Issuing bank
From Wikipedia, the free encyclopedia
An issuing bank is a bank that offers card association branded payment cards directly to consumers.
[edit] Detail
The issuing bank assumes primary liability for the consumer's capacity to pay off debts they incur with their card.
In the case of credit cards, the issuing bank extends a line of credit to the consumer. Liability for non-payment is then shared by the issuing bank and the acquiring bank, according to rules established by the card association brand.
[edit] Statistics
Worldwide, over 1.5 billion payment cards are in circulation[1] .[2]
