How It Works

Card payment business can be confusing for new merchants even for experienced merchants. There are 5 party mainly roles. Let's see following for mores understanding.

• Merchant

  A merchant, that may be you, is an entity that contracts with an acquirer (CB Bank) to accept card payments for goods or services provided.

• Acquirer

  An acquirer (CB Bank) also known as merchant bank that is a financial institution licensed by MasterCard, Visa or UnionPay. The acquirer is set up to connect and process transactions over the card payment network and sell its processing service to merchants.

• Issuer

  Institutions such as banks, credit unions, savings & loan association or even retailers that provide to a consumer through a payment card. Please note that MasterCard, Visa and UnionPay is not an issuer.

• MasterCard, Visa, UnionPay

  MasterCard, Visa and UnionPay are the world-wide network managers. They provide secure and maintain the network that allows transactions between accepting merchants, card issuers and acquirers to happen.

• Card Holder

  Card Holder mean the person whose name is imprinted/embossed on the cards and whose signature appears on the signature panel as the authorized user thereof, or in the case of bearer prepaid/gift card, shall refer to the holder of card.