TD Bank to leverage MasterCard’s Maestro PIN-based debit card network for payment processing and roll out of new payment offerings
CHERRY HILL, N.J., July 29, 2015 – TD Bank, America’s Most Convenient Bank®, today announced an agreement with global payments technology company MasterCard to route debit and prepaid card transactions over MasterCard’s Maestro network. Through the agreement, MasterCard will process TD Bank’s debit card and prepaid card PIN transactions. This initiative extends MasterCard’s worldwide presence and breadth of services to TD Bank customers including tokenized transactions, leveraging technology that provides a higher level of security for customer 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.”
“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.
This agreement will take effect in the beginning of 2016 and will bring TD Bank a platform to deliver robust payment options to their customers in an ongoing manner.
MasterCard is a technology company in the global payments industry. We operate the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard’s products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MasterCardNews, join the discussion on the Beyond the Transaction Blog and subscribe for the latest news on the Engagement Bureau.
About TD Bank, America’s Most Convenient Bank®
TD Bank, America’s Most Convenient Bank, is one of the 10 largest banks in the U.S., providing more than 8 million customers with a full range of retail, small business and commercial banking products and services at approximately 1,300 convenient locations throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and Florida. In addition, TD Bank and its subsidiaries offer customized private banking and wealth management services through TD Wealth®, and vehicle financing and dealer commercial services through TD Auto Finance. TD Bank is headquartered in Cherry Hill, N.J. To learn more, visit www.tdbank.com. Find TD Bank on Facebook at www.facebook.com/TDBank and on Twitter at www.twitter.com/TDBank_US.
TD Bank, America’s Most Convenient Bank, is a member of TD Bank Group and a subsidiary of The Toronto-Dominion Bank of Toronto, Canada, a top 10 financial services company in North America. The Toronto-Dominion Bank trades on the New York and Toronto stock exchanges under the ticker symbol “TD”. To learn more, visit www.td.com.
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