Card Product

A card product is a distinct kind of payment card that an issuer designs and offers to a particular group of customers. Each product combines a card network, a funding type, such as credit, debit or prepaid, a market segment, such as consumer, small business or corporate, and a set of features including limits, fees, interest rates, rewards, insurance and design. Card networks also define their own product tiers, for example classic, gold, platinum or infinite levels for consumers and separate business and purchasing products, and these tiers affect the interchange rates merchants pay and the benefits cardholders receive. Issuers launch, change and retire products as part of their card strategy, usually under a card programme run with networks and processors. Distinct BIN ranges are often assigned to each product so that it can be recognised in authorisation and reporting. Related ideas include card programs and commercial cards.