News
MasterCard Strikes Exclusive Five Year Deal with Metro Bank
Metro Bank, the first UK high street bank to launch for more than 100 years, will exclusively use MasterCard payment products when it opens for business on Thursday 29 July 2010.
MasterCard has invested significantly in the new partnership and is supporting a range of innovations that will be available to Metro Bank customers, including the ultimate in new account opening convenience. Metro Bank customers will be able to receive fully personalised and ‘ready to go’ MasterCard debit and credit cards.
The service will follow the same stringent due diligence and credit check processes that typically force customers of other banks to wait as long as two weeks for their new cards.
In an important strategic milestone for MasterCard, Metro Bank will become the latest major UK high street bank to provide customers with Debit MasterCard, a new generation debit card which is accepted at over 30 million retail locations and 1.5 million ATMs around the world.
The tie-up with Metro Bank - which is launching a revolutionary retail store model for high street banking - highlights MasterCard's commitment to delivering innovative payment solutions for consumers and businesses.
MasterCard’s support has also played a key role in helping Metro Bank successfully come to market within a year of its formation.
Hany Fam, General Manager, MasterCard UK & Ireland, said:
“We share a common vision with Metro Bank in putting the consumer at the heart of the payment proposition. We're delighted to be working together to bring a breath of fresh air to high street banking in the UK.
“The partnership with Metro Bank demonstrates how our innovative approach to payments and genuine commitment to supporting our partners is attracting new entrants to the retail banking market to work with us.”
In these chastened economic times, Metro Bank will offer unparalleled service and convenience to both its personal and business customers. The bank will be the first to open its doors seven days a week with stores open from 8am until 8pm Monday-Friday, 8am-6pm on Saturdays and 11am-4pm on Sundays.
Craig Donaldson, Chief Executive Officer of Metro Bank, said:
“We're delighted that MasterCard has become our payment partner. Its expertise and support has been vital in bringing Metro Bank to market so quickly.
“We believe, and know, that UK consumers are looking for a different and better banking experience. Working with MasterCard has enabled us to offer a great range of innovative payment services that will allow us to best serve the banking needs of the consumer and business communities.”
Metro Bank is initially opening two stores in London, with a further 12 planned in Greater London over the next two years. Metro Bank plans to grow its store network to more than 200+ over the next decade.
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