MasterCard is to market and distribute eFunds' transaction processing platform and services as part of its debit payments processing programme.
The alliance creates the MasterCard Complete Debit Processing (CDP) brand which features eFunds' end-to-end processing platform as well as services already available under the MasterCard Debit umbrella, including point of sale and ATM brands, consumer, business and premium debit programmes, deposit account consulting and offline/online debit transaction switching.
Richard Lyons, senior vice president, deposit access group, North America, MasterCard International, says: "MasterCard Complete Debit Processing allows financial institutions to go to one source for a single branded, national and global, ATM/debit card programme and underlying debit processing service to support their entire deposit account portfolio."
Arizona-based eFunds says the alliance will provide financial institutions with the technology and resources necessary to profit from every step in the debit transaction processing chain.