TD Bank Picks MasterCard’s Maestro Network

MasterCard and TD Bank announced yesterday (July 29) that the two companies have established a deal that allows the bank to enable MasterCard to route TD Bank’s debit and prepaid card transactions over MasterCard’s Maestro network.

As part of the agreement, TD Bank — one of the 10 largest banks in the U.S. — will leverage Maestro PIN-based debit card network for its payment process. The bank also announced that it will be launching new payment offerings. According to MasterCard, this deal with help extend its presence and services to more customers, including tokenized transactions that provide for more secure transactions for TD Bank’s debit and prepaid cards.

“At TD Bank, we’re focused on providing the highest level of service to our customers and driving innovation to our customers faster,” said Ryan Bailey, Head of Deposit Products, Payments and Non-Real Estate Lending at TD Bank. “Through our partnership with MasterCard we will be able to provide our customers with access to advanced payment solutions and services quickly and efficiently.”

The agreement between TD Bank and MasterCard will go into effect at the start of 2016.

“We are delighted to extend our network to TD Bank, as well as explore opportunities to bring the latest innovation to TD Bank customers,” said Chris McWilton, president, North America, MasterCard.

[vc_row full_width=”” parallax=”” parallax_image=””][vc_column width=”1/1″][/vc_column][/vc_row][vc_row full_width=”” parallax=”” parallax_image=””][vc_column width=”1/1″][vc_separator color=”grey” align=”align_center” style=”” border_width=”” el_width=””][vc_single_image image=”148412″ alignment=”center” style=”vc_box_shadow_3d” border_color=”grey” img_link_large=”” img_link_target=”_blank” css_animation=”left-to-right” img_size=”full” link=”http://www.pymnts.com/whats-hot-today/”][vc_column_text css_animation=””]

To check out what else is HOT in the world of payments, click here.

[/vc_column_text][vc_separator color=”grey” align=”align_center” style=”” border_width=”” el_width=””][/vc_column][/vc_row]