The FINANCIAL -- On July 29, TD Bank announced an agreement with global payments technology company MasterCard to route debit and prepaid card transactions over MasterCard’s Maestro network. Through the agreement, MasterCard will process TD Bank’s debit card and prepaid card PIN transactions. This initiative extends MasterCard’s worldwide presence and breadth of services to TD Bank customers including tokenized transactions, leveraging technology that provides a higher level of security for customer debit and prepaid cards.
“At TD Bank, we’re focused on providing the highest level of service to our customers and driving innovation to our customers faster,” said Ryan Bailey, Head of Deposit Products, Payments and Non-Real Estate Lending at TD Bank. “Through our partnership with MasterCard we will be able to provide our customers with access to advanced payment solutions and services quickly and efficiently.”
“We are delighted to extend our network to TD Bank, as well as explore opportunities to bring the latest innovation to TD Bank customers,” said Chris McWilton, president, North America, MasterCard.
This agreement will take effect in the beginning of 2016 and will bring TD Bank a platform to deliver robust payment options to their customers in an ongoing manner, according to MasterCard.