The majority British-owned NatWest Group, recently announced that all its banking brands will be converting and issuing debit cards using the Mastercard label.
The move indicates Mastercard’s drive in ramping up its operations not only across the UK, but also in Scotland and Northern Ireland. The NatWest-Mastercard agreement will cover approximately 16 million debit cards already issued by NatWest Banks, the Royal Bank of Scotland, Coutts snd Ulster Bank.
Although Mastercard is generally known as a credit card company, the firm prefers to be recognized for its technology and capability to provide global payment services.That being the case, it continues to work with financial and banking institutions that in turn offer the Mastercard brand to clients and customers through issuances of credit, debit and prepaid cards.
Mastercard Deemed as a Perfect Match for the NatWest Group
Since the Natwest Group offers both personal and business banking brands as well as insurance and corporate financing, Mastercard’s global payments technology can strategically connect NatWest banks and its brands, to different institutions transacting with consumers, merchants, government offices and other financial organizations.
Mastercard’s popularity led to the growth of its global base; building a vast network of merchants, settlement banks and financial institutions whose end users have expressed satisfaction. The global payments company takes pride that the seamlessness of completing a Mastercard transaction is due to the fact that processing takes only mere milliseconds.