MemberIn the context of Visa USA and MasterCard International, a "member" is defined as a financial institution that has been granted membership to either or both of these credit card networks. This membership empowers the institution to issue Visa or MasterCard branded credit and debit cards to consumers and businesses, and to accept transactions processed using these cards. The role of a member is pivotal, as it involves not just the distribution of cards but also the management of associated financial services such as facilitating credit, handling account maintenance, and processing payments.

Members also provide merchant services, which include setting up businesses to accept Visa and MasterCard payments. This role encompasses providing point-of-sale systems, handling transaction processing, and ensuring the security and efficiency of payment acceptance. The benefits of being a member include the ability to tap into additional revenue streams through transaction fees, interest on credit balances, and other financial services related to card usage. Furthermore, offering branded cards can significantly expand a financial institution's customer base, as these cards are often sought after for their convenience and security features.

However, membership comes with substantial responsibilities. Institutions must adhere strictly to the operational, security, and regulatory standards set by Visa and MasterCard. This includes managing the risks associated with credit issuance, such as assessing applicant creditworthiness and setting appropriate credit limits. Members must also navigate the complexities of compliance with network rules, which govern transaction processing standards, security protocols, and dispute resolution among other things. Thus, while the role of a member in these card networks offers significant business opportunities, it also requires diligent management of obligations and risks to maintain the integrity and reliability of the payment systems.