ICBA Payments, the payments subsidiary of the Independent Community Bankers of America (ICBA), announced its partnership with Mastercard (NYSE: MA) to offer upgraded card and payment services for community banks.
The alliance with Mastercard will “help community bankers bolster and modernize their card programs through new innovative features, providing an enhanced customer experience.”
ICBA Payments CEO Jacob Eisen said:
“Today, we’re not only upgrading payments but also investing in the future of our local communities. By partnering with Mastercard, we’re equipping our member banks with innovative, secure, and cost-effective solutions that empower them to support and grow the neighborhoods they serve. Together, we are paving the way for stronger local economies and enduring customer relationships.”
As explained in a blog post, Mastercard will now manage “all cardholder communication and marketing through the transition.”
Through this partnership, Mastercard will deliver “custom-curated joint marketing assets to help improve cardholder activity for ICBA Payments’ member banks.”
As part of its agreement, ICBA Payments will “upgrade its sponsored card programs to Mastercard at no cost and will feature contactless plastics, tokenization to digital wallets, and industry standard 8-digit BINs and business BIN optimization.”
Marie Elizabeth Aloisi, executive vice president, US Market Development, Mastercard said:
“Together, we are enabling community banks to drive financial empowerment, foster local growth, and create a more connected and resilient future for every community they serve.”
Powering the potential of ICBA members through payments-related innovation, education and advocacy, ICBA Payments “helps community banks of all sizes navigate their payment needs to compete.”
As mentioned in the announcement, ICBA Payments, a wholly owned subsidiary of the Independent Community Bankers of America® (ICBA), has been “managing payments solutions for the nation’s community banks since 1985.”
They help power the potential of ICBA members through payments-related innovation and education to “help community banks navigate the payments ecosystem and select suitable offerings at favorable pricing—helping community banks compete and thrive.”
Mastercard powers economies and empowers people in “200+ countries and territories worldwide.”
Together with customers, they’re reportedly building a “sustainable economy where everyone can prosper.”
They support a range of digital payments choices, “making transactions secure, simple, smart and accessible.”
Their technology and partnerships and networks “combine to deliver a set of products and services that help people, businesses and governments realize their potential.”