Glossary
What do the technical terms mean
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Payment does not have to be complicated. However, there are technical terms that are often not common.
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Issuer
A card-issuing financial institution or a company that issues credit cards, accepts cardholders' transactions from other member banks or merchants, guarantees payments with the card and collects the transactions made with the card from the cardholder's account.
The card as a payment instrument
A card as a payment instrument can include different types of payment processing. The most important are prepayment or post-payment settlement. While debit cards have a close link to the checking account, credit cards are not linked to a checking account. The issuer is responsible for the security of the issued card, especially in case of credit card fraud, computer fraud and forgery.
Issuing
Issuing creates the distribution of the cards to the end customer, while acquiring creates the contracting company infrastructure without which the card cannot function as a payment instrument. The more contractual partners are available, the more attractive the card is as a payment instrument.