Local Credit Cards
The license is issued for card acquiring by the largest payment systems such as Visa, Mastercard and American Express, and grants its owner with the right to process and clear credit and debit card transactions. In order to obtain the such acquiring license, the financial institution first needs to go through the procedure of obtaining a banking license, and on its completion to purchase software for the payment gateway. The next step involves searching for a registered organization, which would be able to evaluate the software and certify it under the Data Security Standard Payment Card Industry (PCI DSS). After the financial institution possesses the banking license and owns a certified payment gateway, it can apply to card associations for obtaining of an acquiring a license.