What is meant by 'Cards in Force' in payment terminology?

'Cards in Force' refers specifically to the number of active cards that are currently in circulation, reflecting the total count of cards that are actively being used for transactions. This measure is particularly valuable for financial institutions and payment processors as it provides insight into customer engagement and the volume of transactions that can be expected.

Focusing on the active cards, this metric enables institutions to analyze performance trends based on card type (such as credit, debit, or prepaid) and geographic area, aiding in strategic decisions such as marketing, risk management, and customer service. Understanding how many active cards are in force helps assess the overall health of a card portfolio and can indicate customer loyalty and satisfaction.

In contrast, the other options refer to different aspects of card management. The total number of cards issued by banks, regardless of their status, would include inactive or expired cards and does not provide a clear picture of active engagement. Pending credit card applications highlight future potential rather than current activity, while the count of expired cards signifies cards that are no longer in use but carries no value in terms of active customer transactions. Thus, the chosen answer accurately captures the essence of active usage in the payment industry.