CLANAE 64.922—Services provided by purchase and/or credit card entities

Where 64.922 sits

1. K Financial intermediation and other financial services
2. 64 Financial intermediation and other financial services
3. 64.9 Financial services, except those of the central bank and financial institutions
4. 64.92 Credit services n.e.c.
5. 64.922 Services provided by purchase and/or credit card entities

What 64.922 includes

• A purchase card allows its holder to make purchases with the commitment to pay off the outstanding balance by the end of the monthly billing period. A credit card allows its holder to defer payment of the debt incurred over subsequent billing periods, with the corresponding financial cost. In a closed system, a single company manages all aspects of the card (issuance, merchant onboarding, payment and collection of balances, etc.). In an open system, card companies can license the use of their brand; generally, the licensees are banking institutions.

What 64.922 excludes

• The services of companies licensed for open system purchase and credit cards (subclass: where the entity that provides the service is included, according to its main activity, such as banking entities, businesses, etc.).

64.922 in other systems