Citibank inked a 10-year agreement to align its consumer proprietary credit and debit portfolios to the MasterCard network this year. However, Citi says it will continue to work with other networks, including on consumer co-brands and commercial cards.
Citi Cards says deepening its partnership with MasterCard should speed the delivery of solutions for its consumer, small business and merchant clients, and add meaningful value to Citi.
For nearly 50 years, Citi and MasterCard have worked together to provide credit and debit cards to consumers and businesses of all sizes. Citi was one of the first major bank partners for MasterPass, which allows cardmembers to pay with any enrolled credit card anywhere online or in app, using any device, eliminating the need to enter payment and shipping details for each purchase.
According to CardData, Citibank has 112 million bank credit card and retail cards accounts in North America. Citi also has 79 million card accounts outside the U.S.
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