Of these system functions, the first question is probably the most critical, as it drives enterprise merchant card acceptance and consumer demand for branded cards for specific social networks. Most Chinese consumers only know that they have a visa or Mastercard, not through the issuing commercial bank. This is not a coincidence,payment gateway system architecture， but part of a carefully crafted brand strategy at the card association/network where they fund and drive the creation of issuer-agnostic, consumer-friendly card features and programs like Zero Liability or Travel/ Accident/lease car insurance, etc., merchant-specific loyalty program promotions.
The issuer is the bank that issued the payment card. They provide two broad functions:
Demand generation on the consumer side. This includes:
Consumer Marketing and Acquisition
credit risk analysis
Certification and Authorization Approval
Receipt, processing and Storage of Issuer Transactions
Credit/Debit Card Maintenance (Settlement, Statement, payment Collection)
Larger banks have scale in the economic process in-house, but outside the top 10 banks, for smaller credit unions, this is often outsourced to third parties such as FDC or FIServ.
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