Issuing services may include authorization and card personalization.

• A. Card personalization only.
• B. Authorization only.
• C. Card personalization and issuance fees.
• D. Authorization and card personalization (issuing services).

Answer: (D)

Issuing services cover the functions an issuer provides to support a card program, and two core activities are involved: authorization and card personalization. Authorization is the real-time decision that approves or declines a transaction, confirming the card, account, and available funds or credit. Card personalization is the process of producing the physical card and encoding it with the cardholder’s details—name, PAN, expiration, and other data—so the card can actually be used. Both pieces are essential: you need a card that is properly personalized and a system that can authorize its use during transactions. The other options are incomplete or introduce a concept (like issuance fees) that isn’t what issuing services are describing.