New York and Purchase, N.Y: Citigroup and MasterCard have signed a new and expanded 10-year agreement, they announced. Citi will begin aligning the company’s consumer proprietary credit and debit portfolios to the MasterCard network in 2015.
Citi will continue to work with other networks, including on consumer co-brands and commercial cards.
CEO of Citi Cards Jud Linville said, “Citi’s new global agreement with MasterCard harnesses the size and strength of Citi’s Card franchise, creating a path with MasterCard to influence the future of payments – from global acceptance to the creation of enhanced digital payment capabilities. Deepening our partnership with MasterCard should speed the delivery of solutions for our consumer, small business and merchant clients, and add meaningful value to Citi.”
