Yana discusses a topic today that is a little technical, but still a question she gets asked all the time. Listen as Yana spends a little time talking about the difference between issuing banks and acquiring banks or issuers and acquirers roles as it applies to the card industry. Issuer is a financial institution that gives the consumer a card, while acquirers are services that are merchant-focused. Yana hits on things you should know about these two services, plus much more on this Compliance That Makes Sense episode. 

Want more? – Subscribe to Yana’s super popular newsletter everyone is talking about!

If you enjoy this episode, please share it with friends, leave comments and reviews, and join the conversation. 

Today’s episode:

• [00:34] Hello, my friends, welcome back!
• [01:19] Yana shares the difference between issuing and acquiring and what they do.
• [03:14] Yana speaks about how acquirers are services that are merchant focused.
• [05:02] Yana discusses some important things to understand about the setup of the card industry.
• [07:43] Every time a merchant gets paid, there is a fee that the card issuer and others receive.
• [09:09] There is a major disparity between issuers and acquirers; one does things for free because they have less risk while the other charges fees because they have more risk.
• [11:27] Yana shares an example of how the card industry tries to rebalance and shift responsibility for potential losses.
• [14:01] Listen as Yana gives some scenarios of what could be in place and the variations’ requirements.
• [16:28] Yana highlights the fact that everything she mentioned in this episode is related to the card industry and Fiat funds.
• [18:04] Thank you for listening!

Show links:

• Follow Yana on Instagram and check out our new training calendar for the latest workshops and training.
• FinTech Compliance for Startups – https://yana-afanasieva.mykajabi.com/yes