Card payment systems
Card payment schemes 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 systems (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 the processing of card payments.
The so-called four-party model comprises: the cardholder, the comerciante, the issuer (card issuer) and the acquirer (payment processor). The card network stands in the middle and mediates authorisation 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 system 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 network: AMEX issues the card, processes the payment, and settles directly with the Comerciante.
Mastercard defines via its scheme rules that all online payments must be authenticated with 3D Secure 2 from 2025.
Card payment systems FAQ
What are card payment systems?
Card schemes like Visa and Mastercard form the infrastructure for card payments. They define the rules and mediate transactions between issuer and acquirer.
What is the four-party scheme?
The four-party scheme comprises: cardholder, Comerciante, issuer (issues the card) and acquirer (processes the payment). The card scheme (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 scheme (Visa, Mastercard), the issuer and acquirer are separate entities. In the three-party scheme (AMEX, Diners), the card network is also the issuer — there is no separate acquirer.
