--College Student Credit Card of The Major inequity between Visa, expert Card And American Express--
Sponser LinksThe Major inequity between Visa, expert Card And American Express
American Express credit cards made their nearnessy known in the financial jungle in the early 50's. Visa and specialist Card also came into the scene around the same time and served the same market segment - Credit. There soon advanced their own model for serving the market and established themselves as leaders in the credit card providers the world over.
The Major inequity between Visa, expert Card And American Express
While American Express or Amex as it is popularly known in the European countries has grown to be the most widely recognizable of credit cards and is a name that describes exclusivity in a way. However, not many credit card holders throughout the world know the distinction in the three major players in the credit card industry. surely there is no distinction in the middle of Visa and specialist Card, the main distinction is in the middle of these two players and American Express credit cards - The major distinction is in their style of operation.
Visa Card and specialist Card are primarily methods of development payments. These are tow financial clubs that have grown into institutions by themselves. They negotiate and setup payment systems at different merchant locations over the globe but never issue any credit cards themselves. Visa and specialist Card set up enterprise partnerships with merchant establishments where customers can use the credit cards and banks or financial institutions that surely issue credit cards to their customers. Visa and specialist Card make the payment to the merchant establishments where the cards are used and payment the enterprise that surely issued the card to the customer a fee for development the up front payment on their behalf. The card issuing enterprise on its part charges a fee for issuing the card, an annual rental for the card and an interest on the estimate of payment paid out to the merchant establishment.
These credit card clubs are billed by Visa or specialist Card and they in turn bill the card holder. The holder never pays any cash directly to Visa or specialist Card.
American Express is different in that they have an entirely underground setup. They issue their credit cards under their own name and logo. They also directly make payments to merchant establishments where the card is used. American Express do their own marketing of services to merchant establishments and card customers. The other distinction is that American Express has a minuscule usage through the world while Visa and specialist Card are thorough at over 20 million merchant establishments in over a hundred and fifty countries.
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