ADVERTISEMENT

Debit cards included in revised MasterCard, Bank of America pricing agreement

By

MasterCard reported that operating subsidiary MasterCard International has revised its agreement with Bank of America in regards to certain pricing arrangements for BofA's use of MasterCard services in the U.S. and overseas.

Compare Prepaid Credit CardsAccording to a Securities and Exchange Commission filing, MasterCard stated that the agreement was updated "to include new pricing arrangements in exchange for transaction volumes related to the issuance of MasterCard-branded debit cards by Bank of America."

At present, Bank of America issues Visa-branded debit cards, with a spokeswoman for Bank of America noting that the bank currently does not issue MasterCard-branded debit cards.  MasterCard International provides Bank of America with core authorization, clearing, and settlement services.  MasterCard also offers some supplemental user-pay services to Bank of America.

The SEC filing did not make clear whether leading U.S. retail-banking company BofA would begin issuing MasterCard-branded debit cards, and a MasterCard spokeswoman declined to go into detail in regards to the filing.

 

Published: January 3, 2007


Join the discussion
We encourage an active and insightful conversation among our users. Please help us keep our community civil and respectful. For your safety, do not disclose confidential or personal information such as bank account numbers or social security numbers. Anything you post may be disclosed, published, transmitted or reused.

If you are commenting using a Facebook account, your profile information may be displayed with your comment depending on your privacy settings. By leaving the 'Post to Facebook' box selected, your comment will be published to your Facebook profile in addition to the space below.

The editorial content on CreditCards.com is not sponsored by any bank or credit card issuer. The journalists in the editorial department are separate from the company's business operations. The comments posted below are not provided, reviewed or approved by any company mentioned in our editorial content. Additionally, any companies mentioned in the content do not assume responsibility to ensure that all posts and/or questions are answered.




Follow Us


Updated: 12-08-2016


Weekly newsletter
Get the latest news, advice, articles and tips delivered to your inbox. It's FREE.


ADVERTISEMENT