On-us transactions

Payment card transactions where the issuing bank and the acquiring bank are identical. This situation is prevalent in closed payment card systems. In a wider sense on-us transactions occur where the issuing bank and the acquiring bank are separate entities but pertain to a common group of banks. This situation typically arises where issuing banks set up a joint venture which acquires merchants. Transactions between this acquirer and its shareholders are often labelled "on-us" transactions, although strictly speaking issuing and acquiring banks are separate entities.