There's a Problem
The problem with the current methods of processing credit and debit card payments? There is too much "Fat":
Card Associations: These are the companies that create credit cards, such as Visa, Mastercard®, and American Express.
Credit Card Issuing Banks: These are financial institutions, such as Chase, Citi, and Wells Fargo, that issue credit cards to consumers.
Credit Card Acquirers: These are also known as acquiring banks, though they don’t all have to be a bank in the traditional sense.
Credit Card Processors: These are the one-stop-shop companies a merchant deals with to set up payment card processing.