NatWest has switched from issuing Visa debit cards to Mastercard, joining Santander UK, HSBC First Direct, and Monzo in series of recent developments that could threaten Visa's lead in the UK debit card market.
The agreement, which covers all NatWest Group brands including Royal Bank of Scotland, Ulster Bank and Coutts, affects 16 million consumer and business customer cards.
Mastercard said in a statement that after all conversions are complete, the switch-over will cover one in three consumer debit cards in circulation in the UK and one in four in Ireland.
Salim Secretary, head of payment schemes and partnerships at NatWest, said: “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.”
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