DEFINITION of 'Banknet'

A global network operated by MasterCard that facilitates the routing of credit card transactions for authorization from almost any point in the world. One of the world's largest global telecommunications networks, Banknet links all MasterCard members and data processing centers into a single financial network. The network enables MasterCard's side of an authorization transaction to be performed in seconds.

BREAKING DOWN 'Banknet'

MasterCard launched Banknet is 1984. The network's hub is located in MasterCard's Global Technology and Operations headquarters in St. Louis, Missouri.

RELATED TERMS
  1. Interbank National Authorization ...

    A network of banks that are affiliated with Mastercard International. ...
  2. MasterCard Acquirer

    A financial institution that accepts and processes transactions ...
  3. Interbank Network for Electronic ...

    Worldwide network that facilitates the transfer of debit and ...
  4. Bank Card

    Any card issued against a depositary account, such as an ATM ...
  5. Associate Bank

    A bank that is affiliated, usually through membership, in a regional ...
  6. Economic Network

    A combination of individuals, groups or countries interacting ...
Related Articles
  1. Investing

    Is Now the Time to Buy MasterCard? (MA)

    MasterCard's strong market position, solid global brand recognition and ongoing partnerships with various merchants should help the company drive higher.
  2. Investing

    MasterCard Stock Trades Ex-Dividend Thursday

    MasterCard will send its dividend payment on Feb. 9 to shareholders of record as of Jan. 9.
  3. Investing

    MasterCard Stock Falls on Q4 Revenue Miss

    MasterCard's stock declined as much as 3.5% after it missed Wall Street's revenue estimates.
  4. Investing

    MasterCard Stock Trades Ex-Dividend Wednesday

    MasterCard Inc. will send its dividend payment on May 9 to shareholders of record as of April 7.
  5. Investing

    MasterCard Insiders Sell Shares (MA)

    Have MasterCard shares become too rich, given that company insiders have sold and continue to sell large chunks of company stock?
  6. Investing

    How Amazon's Sharp Expansion Could Hurt MasterCard

    Amazon's sharp expansion could hurt Mastercard.
  7. Investing

    MasterCard's Stock Can Continue To Rise For Years

    MasterCard stock has had booming lately and appears poised to climb further. Here's why.
  8. Investing

    A Look at MasterCard vs. Visa (MA, V)

    Both firms have performed well despite the low interest rate environment.
  9. Personal Finance

    Visa vs. MasterCard: Is There a Difference?

    Visa and MasterCard are two of the most widely used credit card brands. But are the differences between the two significant enough to influence consumers?
  10. Investing

    MasterCard Stock Upgraded by Wedbush

    On Friday Wedbush analyst Moshe Katri upgraded Mastercard to an Outperform rating from Neutral and issued a 12-month price target of $126, from $99.
RELATED FAQS
  1. Can you use a Walmart credit card anywhere? (WMT)

    Learn where you can use a Walmart credit cards, and find out the details and services provided to Walmart credit card account ... Read Answer >>
  2. Can the Best Buy credit card be used anywhere?

    Learn how the Best Buy credit card can only be used in Best Buy stores and online to make purchases through the Best Buy ... Read Answer >>
  3. How can you cancel your Walmart credit card?

    Learn how to close your Walmart credit card or Walmart MasterCard, and read details about the process of closing those credit ... Read Answer >>
  4. What is the long-term outlook of the telecommunications sector?

    Discover the long-term outlook of the telecommunications sector and the various factors contributing to its continued growth ... Read Answer >>
Trading Center