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Bank Card

A bankcard is a credit card that is issued by either a Visa or a MasterCard sponsored bank or lending institution. The other types of credit cards, such as American Express, Diners Club, or Discover, are not issued by a sponsored bank, but directly by the company.

Most customers use bankcards when they are making purchases using a credit card. Also, most merchants accept bankcards through Visa or MasterCard, but not all merchants accept the other types of credit cards.

When considering the type of transaction process a business wants to be involved in, the business owner needs to decide what type of credit card they want to accept. There is added cost to accepting cards other than bankcards, and the merchant needs to decide if that cost is worth the added customers it might bring. Keep in mind that almost everyone has a Visa or MasterCard if they own a credit card at all.

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