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.
Buy this shirt: Hold my cards I have to go save a life shirt
Comments