LONDON, Feb 4 (Reuters) - NatWest has become the
latest British lender to switch to issuing Mastercard
debit cards from Visa, in an agreement that includes 16
million consumer and business customer cards.
Mastercard - long the main provider of UK credit cards - has
been eating into Visa's lead in debit cards after similar
deals with Santander UK and HSBC's First Direct
, while also signing up start-ups including Monzo.
The agreement includes all NatWest Group's brands, including
Royal Bank of Scotland, Ulster Bank and Coutts.
Mastercard said in a statement on Thursday that after card
conversions were complete it would account for around one in
three of all consumer debit cards in circulation by banks in the
UK, and one in four in Ireland.
"We believe this partnership will enable us to offer more
tailored payment options to our customers however they wish to
pay – whether in store, online or via mobile devices," said
Salim Secretary, head of payment schemes and partnerships at
NatWest.
(Reporting by Iain Withers; Editing by Jan Harvey)
HSBC Holdings (HSBA)
Natwest (NWG)