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04 Feb 2021 | 08:37

NatWest switches to Mastercard debit cards from Visa

(Sharecast News) - NatWest has switched to issuing Mastercard debit cards from Visa, in an agreement that includes 16m consumer and business customer cards.

The agreement with Mastercard also includes all of NatWest Group's brands, including Royal Bank of Scotland, Ulster Bank and Coutts, Reuters reported.

The bank is the latest UK lender to switch as Mastercard is eating into Visa's lead in debit cards. Mastercard has already struck deals with Santander UK and HSBC's First Direct.

Mastercard said in a statement on Thursday after the change that it would account for around one in three of all consumer debit cards in circulation by banks in the UK.

"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.
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