trung gian cho tất cả các sử dụng của thẻ. American Express, Discover và Diners Club là những ví dụ của đóng là một trong nhượng quyền thương mại American Express, Diners Club nhượng quyền thương mại (nay thuộc sở hữu của CitiBank), | Securing Financial Transactions Chapter 6 319 words the same company owns both the cardholder and merchant relationship and steps in as an intermediary for all uses of the cards. American Express Discover and Diners Club are examples of closed is one American Express franchise one Diners Club franchise now owned by CitiBank and one Discover Card company. When a cardholder with a bank card from Bank A uses the card to transact with a merchant whose account is at Bank B and the transaction is processed through a different third party it s called an open-loop system. Bank card systems using Visa and MasterCard are examples of open loops. In reality neither the Visa nor MasterCard companies issue cards directly to consumers. Rather they rely on their member banks to establish the lines and set the terms for consumer credit and debit within their own also rely on the banks to offer the Merchant Services to enable retailers to accept their cards as forms of payment. Typically a merchant s bank will provide such services in addition to the other banking services retailers need. Visa and MasterCard serve as Brand Association authorities that establish and maintain the by-laws that frame the uses of their logos and the accompanying agreements between their member banks. Both Visa and MasterCard claim they each have over 20 000 member banks throughout the world to form their franchises. In a closed-loop system the cardholder and merchant accounts are typically operated on the same systems. Settlement see the next section then becomes a matter of debiting one side of the system and crediting the other side without any need to access the banking network except to collect charges from any other acquirers who may process charges from the closed-loop system brand. Capture and Settlement In settling a batch the card processor must first receive software in Apollo Marketplace s terminal initiates a file transfer that sends it via the private line
