Issuer Definition.

Bank or institution that issues the payer’s card (or holds the account). It authorizes transactions, carries credit and fraud risk on the cardholder side, and earns interchange. It also operates the ACS for 3-D Secure authentication. In the four-party model, it sits opposite the acquirer, connected through the scheme.

See also

→ Acquirer→ Cardholder→ Interchange

Where this term appears

GuideThe four-party modelGuideThe role of banksGuideMerchant, acquirer, PSPGuidePayment schemesGuidePayment regulationGuideAgents, distributors, and banking-as-a-service: who is liable for whatGuidePayments in GermanyGuidePayments in AustriaGuidePayments in the BalkansGuidePayments in the Baltics and FinlandGuidePayments in the Netherlands and BelgiumGuideProtecting customer funds, and what happens when the institution fails

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