Card payment schemes (Visa, Mastercard, Amex, Diners…)

Definition

A card scheme is the payment organisation (network) that settles transactions — including Visa, Mastercard, American Express (Amex), Diners Club, as well as JCB or UnionPay. This is not the same as the issuer: a card is issued by a bank or fintech "on the" Visa or Mastercard scheme.

What it means in practice

The scheme mainly determines acceptance — where you can pay — and how foreign-currency transactions are converted (the scheme's rate, on top of which the issuer may add its own markup).

Acceptance

Visa and Mastercard are accepted almost globally. Amex and Diners Club have narrower acceptance, especially outside large chains and abroad — worth checking if you travel a lot.

Why it affects your choice

If you pay or withdraw abroad, scheme acceptance and the conversion method genuinely affect cost and convenience.

Watch out

The currency-conversion fee (FX markup) is usually the issuer's cost added on top of the scheme rate — two different things. Don't confuse the scheme with the card type (debit / credit / prepaid) — that's a separate dimension.

WTP Finance is for information only; we do not give financial advice. Confirm acceptance and costs with the provider.