Multiple choice technology mainframe

What is Card Association/Interchange in Cards Domain? Give some examples?

  1. It is a payment scheme like American Express.

  2. It is a network through which the authorization takes place. Eg: Mastercard, Visa, Amex, etc.,

  3. It is a financial service which helps card holders to make payment for services or products to obtain cash eg: credit cards, debit cards etc

  4. It is a payment system which facilitates to pay and keep track of expenses.eg: Charge Cards
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Card associations/interchanges are the networks that route authorization and settlement transactions between issuers and acquirers. Examples include Visa, Mastercard, Amex, Discover. Option A only names one association, C describes general card products, and D describes charge card products - not the network infrastructure itself.

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