MasterCard announced on Wednesday that it has signed a multi-year contract with KeyBank to deliver new debit payment solutions and processing.
The agreement will allow the Ohio-based KeyBank to integrate MasterCard's world-class processing technologies into a new Debit MasterCard program.
“We're pleased to continue our long-standing relationship with MasterCard,” Key Community BankPresident Bill Koehler said. “The changing dynamics of the payments and debit card space today require new thinking and strategic innovation. Our partnership with MasterCard will allow us to deliver debit and processing solutions that meet the needs of our clients.”
The Debit MasterCard program will add the capability for PIN transactions on signature purchases and ATM withdrawals using MasterCard Integrated Processing Solutions.
MasterCard IPS is a leading debit and prepaid processing platform that offers an innovative processing solution to create differentiated products and services and quickly expand payments portfolios across business channels efficiently with minimal infrastructure investment.
“For more than a decade, we have worked with KeyBank to develop meaningful ways to empower cardholders in their daily financial activities,” Chris McWilton, MasterCard's president of U.S. Markets division, said. “By expanding our relationship, KeyBank has added a flexible foundation to serve the many needs of its cardholders for years to come.”
KeyBank and Mastercard have been partners since 1997, providing consumers with a variety of MasterCard options and solutions.