CYBG and Mastercard announce 7-year deal
Written by Anthony Strzalek
Mastercard and CYBG, owner of the Clydesdale Bank, Yorkshire Bank and B brands, today announced that they will extend their partnership, with CYBG switching all of their remaining Visa credit cards to Mastercard.
The 7-year agreement means that all CYBG debit, credit and commercial cards will use the Mastercard network.
The renewed partnership also allows Clydesdale and Yorkshire Bank’s business customers to benefit from the enhanced functionality to control and add flexibility to their company’s future spending.
The partnership will leverage Mastercard’s digital payments expertise, fraud analytics and innovation capabilities in order to deliver convenient, safe and secure payment services to the bank and its customers. It will focus heavily on safety and security, using Mastercard innovations to protect CYBG’s customers against fraud.
Since its IPO, CYBG has invested significantly in its digital banking services. Its B brand was launched in 2016 – an award-winning digital banking service that uses a smart app to help customers manage their money.
Fergus Murphy, group customer value director at CYBG, said: “We are delighted to be extending our partnership with Mastercard into a new long-term agreement. This is in line with our continued focus on finding innovative solutions that benefit our customers.”
Mark Barnett, divisional president for Mastercard UK and Ireland, added: “CYBG is an exciting and diverse challenger bank, and already a valued Mastercard partner. Our renewed agreement will see us issuing even more Mastercard cards in the UK, as well as focusing on security and fraud solutions so that CYBG customers can benefit from some of our newest innovations.
“We’re especially excited to support on B – earlier this year we partnered to create a technology showcase within the Clydesdale Bank’s Edinburgh flagship store at the Edinburgh Fringe Festival, and we’ll be bringing it to Studio B in London in 2018.”