Credit Card Networks
Credit card networks are financial infrastructure platforms that facilitate electronic payment transactions between merchants, card issuers, and acquirers. They provide the backbone for authorization, clearing, and settlement of credit and debit card payments, ensuring secure and efficient transfer of funds globally. Major examples include Visa, Mastercard, American Express, and Discover, each operating proprietary systems to connect participants in the payment ecosystem.
Developers should learn about credit card networks when building or integrating payment processing systems, e-commerce platforms, or financial applications that handle card transactions. Understanding these networks is crucial for implementing secure payment gateways, complying with industry standards like PCI DSS, and optimizing transaction flows for reliability and cost-efficiency. This knowledge is essential in fintech, retail tech, and any domain involving digital payments to ensure seamless user experiences and regulatory adherence.