The Anatomy of the Swipe by Ahmed Siddiqui

Author:Ahmed Siddiqui [Ahmed Siddiqui]
Language: eng
Format: epub

The Issuing Bank will have an arrangement with the Program Manager in most cases. It may charge the Program Manager fees for setting up bank accounts, performing compliance audits, and general oversight. This could be flat monthly fees, transaction-based fees, or a percentage of the Interchange revenue earned.

The Issuing Bank is also sponsoring the Bank Identification Number (BIN, which represents the first six digits on the card) that the DonutDash Mastercard goes under. Mastercard will license this number to the Issuing Bank, and thus will charge the bank for this license. Note, Mastercard will not provide a license to a non-bank entity, and thus, every card program requires an Issuing Bank. The Issuing Bank has the option to just pass this cost on to the Program Manager or even add a markup on these items.

Furthermore, the Issuing Bank gets deposits from the Co-Brand Partner for use in spend transactions and may choose to earn interest on these deposits.

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