Which company’s system stores all card acceptance agreements?

The system that stores all card acceptance agreements is associated with American Express. This is because American Express operates differently from other card networks like Visa, MasterCard, and Discover in that it is both a card issuer and a card network. As a result, American Express maintains its own unique processes and systems for managing merchant agreements and card acceptance.

American Express has direct relationships with its merchants, therefore it needs to keep detailed records of the agreements it has with them. These agreements dictate the terms under which merchants can accept American Express cards, including fees, processing standards, and other important details. This centralized system is crucial for ensuring compliance and maintaining consistency across all merchants that accept American Express.

In contrast, companies like Visa and MasterCard primarily act as intermediaries by facilitating transactions between banks and merchants, which means they do not retain the same level of detailed contractual agreements. Similarly, Discover Financial Services operates in a manner akin to Visa and MasterCard regarding seeking partnerships with banks to issue cards and establish merchant agreements.

Thus, American Express's approach gives it the need and capability to manage and store all card acceptance agreements internally, distinguishing it from other payment networks.