015 - Issuing Banks and Acquiring Banks: What are their different roles in the card industry

<p><span style="font-weight: 400;">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</span> <a href= "https://directory.libsyn.com/shows/view/id/compliancethatmakessense"> <span style="font-weight: 400;">Compliance That Makes Sense</span></a> <span style= "font-weight: 400;">episode. </span></p> <p><span style="font-weight: 400;">Want more? - Subscribe to Yana's</span> <a href= "https://competitivecompliance.lpages.co/linkedin-connection/"><span style="font-weight: 400;"> super popular newsletter</span></a> <span style= "font-weight: 400;">everyone is talking about!</span></p> <p><span style="font-weight: 400;">If you enjoy this episode, please share it with friends, leave comments and reviews, and join the conversation. </span></p> <p><strong>Today's episode:</strong></p> <ul> <li><span style="font-weight: 400;">[00:34] Hello, my friends, welcome back!</span></li> <li><span style="font-weight: 400;">[01:19] Yana shares the difference between issuing and acquiring and what they do.</span></li> <li><span style="font-weight: 400;">[03:14] Yana speaks about how acquirers are services that are merchant focused.</span></li> <li><span style="font-weight: 400;">[05:02] Yana discusses some important things to understand about the setup of the card industry.</span></li> <li><span style="font-weight: 400;">[07:43] Every time a merchant gets paid, there is a fee that the card issuer and others receive.</span></li> <li><span style="font-weight: 400;">[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 fe