CB settlement and payment functions
CB and its duties
CB: Universality in a card
CB is an interbank and universal system of payments and cash-withdrawals by card. CB represents more than 10 billion transactions, some 130 banks or member payment institutions, 1.3 million merchants in France and nearly 60 million cardholders. The CB system is managed by an Economic Interest Group (EIG), which ensures its reliability, ergonomic aspects and security.
A few definitions :
- A system is known as a "four-corner model" when it brings four players into contact: the holder of the card, the merchant, the cardholder’s bank (known as the "issuer" because it issues cards) and the merchant’s bank (known as the "acquirer" because it acquires transactions). Example of a "four-corner model" system: CB, MasterCard and Visa.
- A system is known as the "three-corner model" when it relates three players: the cardholder, the merchant and the system that alone issues the cards and acquires the transactions. The banks in the "three-corner model" system distribute and market the system’s products and services. Examples of "three-corner model" systems: Amex, Diners and other private or credit cards.