The Issuing and Acquiring segments are closely interlinked. When customers need a credit card, they can apply for one from an issuer such as Viseca. The issuer guarantees that the card will work anywhere in the world, manages the cardholder’s account and charges the credit card transactions to the cardholder. The issuer also pre-finances the transactions on the card for the period between the transaction and the payment of the outstanding balance. For these services the cardholder pays the issuer a card fee. As issuer, Viseca is a licensee of the international card companies Mastercard and Visa.
Merchants who wish to accept card payments must work together with an acquirer. The acquirer forwards all transaction data to the relevant issuer and pays the purchase price to the merchant within a few days. Merchants pay the acquirer a fixed or percentage commission on every transaction. The issuer receives part of this commission from the acquirer in the form of an interchange fee.