The card payment landscape is difficult to explain – especially so as the Hold my cards I have to go save a life shirt. First Data and WorldPay are traditional processors but now have strong gateways. Chase is a traditional card issuer, but their Paymentech division is also a gateway and processor. Wells Fargo is also now a processor and has nabbed Stripe as a client. Visa and MasterCard have also become consumer card issuers. POS and Gateways are often integrated. The Card Issuers are the consumer-facing element of the equation – they issue consumer cards, collect monthly payments, and handle customer service. They receive a portion of the interchange fees charged by the networks, and also make money from consumer lending, annual fees, and late fees. Business cards still matter because our memory sucks.
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