An issuing bank, also referred to as a “card issuer,” is a member of a card network that provides credit and debit cards to consumers. These financial institutions offer banking services to customers, enabling individuals to make purchases using payment cards.
In essence, issuing banks are responsible for issuing credit and debit cards to approved cardholders. They act as intermediaries between consumers and card networks such as Visa and Mastercard. While the card networks maintain ultimate control over cards bearing their logos, issuing banks play a significant role in managing these cards and assuming a substantial portion of the associated liability.
The issuing bank’s primary responsibility is to assign credit and debit cards to approved cardholders, serving as the issuer and manager of these cards. While there are other third-party service providers that support card-not-present merchants with various services like web hosting, SSL certificates, shopping carts, and payment gateways, the key players outlined above are the primary entities involved in the transaction process.
The issuer of your credit card is typically indicated by the name or logo displayed on the card. It’s important to differentiate between the card network (such as Visa or Mastercard) and the issuer itself.
In case you are unable to locate the issuer’s name or logo on the card, you can utilize the bank identification number (BIN) imprinted on the card to help identify the institution. The BIN serves as a unique identifier associated with the issuer and can assist in determining the bank or financial institution behind the card.
Written by Andrii Vovk