offline so that was run and bashed out like oberon Valuations a regular signature card unlike a credit card now debit card interchange is going to be lower than credit because once again there’s no line of credit being taken out on that card it’s actually
just being taken from your checking or savings account or money market account and both debit and credit cards may have rewards attached to them could be air miles Thank You points or cash back so now let’s go ahead and get into who are the players that take place in each and every transaction will you have your consumer you have your processing equipment or that’s provided by the the acquire and then you have
your bank that’s going to help move the money and deposit the monies to the appropriate parties who are the issuers are who are the parties in a transaction well you have your issuers they’re the ones that are going to be once issuing cards to the consumers they assume that consumers credit risk so they’re saying hey Andy I’m going to give it a credit but I’m sure planning on you paying this balance off in time and in the meantime I’m going to go ahead and charge your interest they’re going to generate reports they’re going to provide customer service and they’re going to send monthly statements
showing me the activity that has taken place that month the association’s visa mastercard discover amex those are what we refer to as associations so they’re going to provide the systems the operation some of the networks they provide the risk management and based on what we’re going to be talking about today they are the ones that also determine interchange they provide advertising promotions and they set standards
and rules not only for consumers on what they can and can’t do and how to utilize their credit card but issuers we issuing banks have certain rules regulations and things they need to abide by and then of course banks acquires everybody who is involved have to follow those rules to protect