Scheme Definition.
A payment network that defines brands, rules and infrastructure. It covers international card schemes (Visa, Mastercard, Amex), domestic ones (Cartes Bancaires (CB) in France, girocard in Germany, Bancomat in Italy), and the SEPA interbank schemes run by the EPC (SCT, SCT Inst, SDD, SRTP). The scheme sets interchange (within regulatory caps), arbitrates disputes and earns its revenue from scheme fees. Joining one requires a license, compliance and participation in settlement.
See also
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 BelgiumGuidePayments in Germany, Austria, and Switzerland