Itaú and MasterCard Sign Agreement That Expands Relationship
March 16 2015 - 10:49AM
Business Wire
Itaú and MasterCard announced today the signing of a new 20-year
agreement that further strengthens the long-term relationship
between the two companies. As part of the agreement, Itaú and
MasterCard will establish and operate a new electronic payments
network in Brazil. In addition, Itaú will issue payment solutions
including credit, debit and pre-paid cards as part of the newly
created payments network and focus on enhancing the efficiency of
their payment value chain. MasterCard will be responsible for
managing the operations of the new network and transaction
routing.
"This strategic alliance will allow us to focus on growing the
issuing and acquiring operations, especially as it relates to the
new payments network. This will offer access to new payment
technologies, benefit from economies of scale and efficiency, and
capitalize on MasterCard’s experience in managing leading payment
brands," said Milton Maluhy Filho, executive director of Itaú
Unibanco. "We will continue working with other networks to offer
commercial and co-branded cards for the consumer."
“Itau is not only one of the largest issuers in the market, but
also an important strategic partner for MasterCard. For many
decades, we have worked together to provide credit and debit cards
to consumers and businesses of all sizes,” said João Pedro Paro
Neto, president of MasterCard Brasil and Geo South. “As one of the
leading technology companies in the payments industry, MasterCard
is the right company to offer the best solutions to its
partners.”
The realization of the strategic agreement is subject to
approval by regulatory authorities involved.
About Itaú Unibanco
Itaú Unibanco is one of the largest banks on the planet,
with approximately 93,000 employees and operations
in 19 countries throughout the Americas, Asia and Europe.
It is a universal bank with a range of services and products
serving the most varied client profile – both individuals and
companies of all sizes, from major transnational groups to local
micro-entrepreneurs. In Brazil, Itaú has nearly
5,000 full-service branches and nearly 30,000 ATMs.
Itaú Unibanco is recognized for its governance practices and
management, which is focused on the generation of economic, social
and environmental value. With shares trading on the São Paulo
(BM&FBovespa), Buenos Aires and New York stock exchanges, the
company has been a component of the Dow Jones Sustainability World
Index portfolio for the past 15 years.
About MasterCard
MasterCard (NYSE: MA), www.mastercard.com, is a
technology company in the global payments industry. We
operate the world’s fastest payments processing network,
connecting consumers, financial institutions, merchants,
governments and businesses in more than 210 countries and
territories. MasterCard’s products and solutions make everyday
commerce activities – such as shopping, traveling, running a
business and managing finances – easier, more secure and more
efficient for everyone. Follow us on
Twitter @MasterCardNews, join the discussion on
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the Engagement Bureau.
Itaú media
contactsComunicação CorporativaCorporate CommunicationItaú Unibanco HoldingImprensa@itau-unibanco.com.br55 11
5019-8880/8881orMasterCard media contactsAndrea Denadai,
551155080357andrea_denadai@mastercard.com
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