Visa to Provide Full Range of Payment Services Including Expanded
Debit Platforms and Processing Services
SAN FRANCISCO--(BUSINESS WIRE)--Sept. 15, 2008--National City
(NYSE: NCC) and Visa Inc. (NYSE: V) today announced a renewed and
expanded brand agreement through which National City will continue to
provide its customers with Visa consumer and commercial credit and
check card products, while adding Visa Interlink and PLUS as the
bank's primary PIN debit and ATM networks.
As part of the new agreement, National City also will transition
to Visa Debit Processing Service, which provides single-point access
to global Visa payment products and services, and real time risk
analysis on every online transaction including purchases and ATM
transactions.
"This agreement provides banking services that bring innovative
products and enhanced convenience and security for our customers,
which are key to the ongoing success of our business," said Dan Frate,
Vice Chairman, National City. "We have enjoyed a long standing
tradition of debit and credit service from Visa and are now looking
forward to expanding our relationship to include a wide-ranging debit
payment platform and processing services that we believe will deliver
added value to our customers."
Frate added, "This new association will allow us to grow our card
business and continue our goal of becoming the payment engine for our
customers. Serving as our customer's primary payment processor is the
essential component of our business strategy, both in consumer and
commercial banking."
"National City's choice to add Visa's complete array of consumer
debit products and utilize our debit processing services underscores
the breadth and value of our integrated debit program for financial
institutions and their customers," said Bill Sheedy, President, North
America, Visa Inc. "The opportunity in debit is significant, as
consumers increasingly turn to ready funds for everyday purchases. We
will continue to work closely with National City to develop payment
solutions that best meet the unique needs of its customers and help
the bank to meet its business goals."
About Visa Inc.
Visa Inc. operates the world's largest retail electronic payments
network providing processing services and payment product platforms.
This includes consumer credit, debit, prepaid and commercial payments,
which are offered under the Visa, Visa Electron, Interlink and PLUS
brands. Visa enjoys unsurpassed acceptance around the world, and
Visa/PLUS is one of the world's largest global ATM networks, offering
cash access in local currency in more than 170 countries. For more
information, visit www.corporate.visa.com
About National City
National City Corporation (NYSE: NCC), headquartered in Cleveland,
Ohio, is one of the nation's largest financial holding companies. The
company operates through an extensive banking network primarily in
Ohio, Florida, Illinois, Indiana, Kentucky, Michigan, Missouri,
Pennsylvania and Wisconsin, and also serves customers in selected
markets nationally. Its core businesses include commercial and retail
banking, mortgage financing and servicing, consumer finance and asset
management. For more information about National City, visit the
company's Web site at www.nationalcity.com.
CONTACT: Visa Inc.
Jennifer Doidge, 415-932-2564
globalmedia@visa.com
SOURCE: Visa Inc.