Visa and Mastercard Membership

Eternity Law International helps banks, EMIs, PIs, fintech firms, and other regulated entities gain admission into international card-network programmes. We evaluate the direct and the sponsored ways to Visa Mastercard membership, set up BIN access, and supervise the issuing and acquiring aspects of a programme.

What the right arrangement depends on is the applicant’s licensing, the legal base that the applicant is going to be enrolled in, the services one is going to offer, and the assets and capabilities regarding the programme that the applicant is likely to be part of. 

What is Visa and Mastercard Membership?

Paying and receiving through international networks involve banks and businesses among other parties. One way is that an authorised entity which seeks payment network access sets up communication and transaction lines for the different roles. On the other hand, an approved intermediary can be used and an entity might be allowed by the brand to work directly on it.

As the first step in choosing a pathway, applicants should evaluate:

• existing rights of the applicant;
• where one conducts its business;
• programme that the applicant intends to be part of;
• the amount of capital;
• how the applicant handles processing;
• manual or automated controls;
• technical infrastructure.

Visa vs Mastercard Membership at a Glance

A direct relationship may involve Visa Principal Client status. With Mastercard, direct participation may involve a Mastercard Principal Customer status. The permitted scope depends on the applicant and network approval.

Which Model Is Right for You?

The structure should correspond with the organisation’s capabilities and programme size.

Have any questions?

Fill out the form and our lawyer will contact you to discuss the details and offer you the best solution for your needs

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Visa Principal Membership

It provides direct participation for eligible organisations approved by Visa. Depending on the scope, a Principal participant may be able to:

• Issue Visa debit, credit or prepaid cards;
• Conduct Visa acquiring;
• Arrange BINs;
• Work with approved processors;
• Participate in settlement;
• Operate branded programmes.

When asking how to obtain Visa Principal membership, one should review its Visa issuing license, capital, governance, internal controls and technical capabilities before proceeding.

Mastercard Principal Membership

It allows an approved organisation to work directly within the Mastercard network for authorised activities. These may include:

• Issuing;
• Mastercard acquiring;
• BIN and ICA arrangements;
• Processing;
• Settlement;
• Programme administration.

When asking how to get Mastercard Principal membership, it is important to remember that direct issuing remains subject to existing Mastercard issuing license and approval.

Visa Associate Membership, Mastercard Affiliate Membership and BIN Sponsorship

Principal participation is not the only route into the payment card scheme membership.

Visa participation can allow an eligible organisation to operate through a Principal participant. Mastercard provides a comparable arrangement through an approved Principal.

BIN sponsorship may suit newly established EMIs, PIs and fintech companies that want to launch a card issuing program without immediately handling every function associated with direct participation.

Requirements for Visa and Mastercard Membership

1. Financial Permission and Statutory Permissions
2. Financial Capacity
3. AML/KYC and Risk Management
4. Technical and Operational Readiness
5. Business Plan

How to Become a Visa or Mastercard Member

For those who want to know how to become a Visa member or how to become a Mastercard member, it is important to remember that the project normally starts with an assessment of the applicant’s authorisation, jurisdiction, permitted offerings, resources and intended activities.

A typical project may include:

• Eligibility assessment;
• Selection of structure;
• Gap analysis;
• Preparation of corporate, financial and programme materials;
• Communication with the relevant network;
• Technical onboarding, BIN setup, processing and settlement.

Final approval and the permitted scope remain with the relevant network.

Card Issuing, Acquiring and Payment Network Access

Clients may refer to Visa issuing permit, Mastercard issuing permit, card issuing permit or merchant acquiring license when describing their intended services. In practice, several elements need to work together:

1. Financial permission
2. Regulatory permissions
3. Card network membership or sponsorship
4. BIN
5. Processor
6. Abidance
7. Settlement
8. Technical implementation

A card issuing programme may involve debit, prepaid or credit products, physical or virtual cards, BIN configuration, tokenisation and 3-D Secure.

Assistance

Eternity Law International assists with such projects.

Our services may include:

• Eligibility assessment;
• Structure analysis;
• Request preparation;
• AML/KYC materials;
• BIN sponsorship and processor structuring;
• Issuing and acquiring support;
• Financial licensing;
• Acquisition of existing regulated organisations.

From Financial Licensing to Card Programme Launch

Our involvement can cover:

1. Financial Licence
2. Visa
3. Mastercard Membership
4. BIN & Processing
5. Compliance
6. Technical Implementation
7. Card Programme Launch

This brings the main legal, operational and technical elements together through one advisory team.

Apply for Membership or Acquire an Existing Fiscal Institution

Organisations essentially have two ways of doing things.

Apply for Visa / Mastercard Membership for the qualifying banks, EMIs, PIs and other organisations who wish to establish their own connection with the relevant payment networks.

Acquire an Existing Financial Institution is targeted at the investors and companies who wish to have an authorised organisation that already has Visa or Mastercard relationships, BINs, issuing capabilities or acquiring arrangements.

Eternity Law International is able to evaluate both methods that are hinging on the applicant’s nation, authorisation, programme, budget, and launch plans.

FAQ

Have any questions?

Fill out the form and our lawyer will contact you to discuss the details and offer you the best solution for your needs

Send Request