Card payment systems
Card payment systems are the networks and infrastructures that process card payments between cardholders, Comerciantes, acquirers and issuers — e.g. Visa, Mastercard, AMEX.
Card payment systems
Card payment schemes (also known as card networks or card schemes) form the infrastructure for all card payment transactions. The best-known are Visa, Mastercard, American Express, Diners Club, and Discover. They define the rules, standards, and technical specifications for processing card payments.
The so-called four-party model includes: the cardholder, the Comerciante, the issuer (card-issuing bank), and the acquirer (merchant acquirer). The card network sits in the middle and facilitates authorization and settlement between the issuer and the acquirer.
American Express and Diners Club use a three-party model: they are both the card network and the issuer — they issue the cards themselves and process the payments directly, without a separate acquirer.
Card payment systems examples
A Swiss online shop accepts Visa and Mastercard via its PSP. The card networks mediate between the shop's acquirer and the customer's issuer.
American Express operates as a closed-loop network: AMEX issues the card, processes the payment, and settles directly with the Comerciante.
Mastercard defines via its scheme rules that all online payments from 2025 onwards must be authenticated using 3D Secure 2.
Card payment systems FAQ
What are card payment systems?
Card schemes such as Visa and Mastercard form the infrastructure for card payments. They define the rules and mediate transactions between the issuer and the acquirer.
What is the four-party model?
The four-party model includes: cardholder, Comerciante, issuer (issues the card) and acquirer (processes the payment). The card network (Visa, Mastercard) stands in the middle and mediates.
What is the difference between Visa and Mastercard?
For Comerciantes and cardholders, there is hardly any difference: both networks have global acceptance and similar fee structures. The differences lie in details such as additional services, insurance, and issuer agreements.
What is the difference between the four-party and three-party model?
In the four-party model (Visa, Mastercard), the issuer and acquirer are separate companies. In the three-party model (AMEX, Diners), the card network is also the issuer — there is no separate acquirer.
