Becoming a Principal Member
If you are, or wish to be, appropriately licensed as a financial institution in a particular country of region, then it may be possible to become a Licensee (also known as a “Principal Member”) directly of the Card Schemes (in particular, VISA and MasterCard). We have advised a number of non-bank financial institutions on these types of Licensing projects, both for Issuing and Acquiring. Fin-Serv can help:
- facilitate the discussions with the Card Schemes
- develop a business case
- amend regulatory scope
- develop credit/risk policies
- select a core processor
- manage the Card Scheme certification projects
RELATED PROJECTS
- Card Scheme Membership on behalf of several Regulated EU Non-Bank Financial Institutions for the purposes of merchant acquiring and prepaid issuing