Definitions

• Physical card - A physical card.

• Virtual card - A digital alternative to the physical card that allows instant issuing.

• Card Scheme - A payment network that facilitates card payments - for example, Visa, Mastercard, American Express, etc.

• Issuer - An organisation member of the international payment card scheme with a license to issue payment cards.

• Price list - Defines the fees applied to cards - for example, card opening fee, monthly fee, and transaction fee.

Cards can also be:

• Main - The first card issued under a card account.

• Supplementary - An additional card that is issued under an existing card account. One card account can have multiple supplementary cards. Each supplementary card has separate limits but shares the same account balance, benefits and privileges as the main card.