ABN Amro has selected MasterCard as its preferred payment card brand in more than 60 countries under a multi-year agreement.
Under the agreement, MasterCard will work with ABN Amro to develop its existing payment card business and will support the Dutch bank's entry into new markets.
An important element in the partnership will be to strengthen ABN Amro's MasterCard portfolio in the Netherlands, by focusing on innovation of the product line and increasing the profitability of the existing card business.
Gerard Hartsink, senior EVO, for ABN Amro corporate centre says the deal "will create added value for our customers and also cost synergies for our group".
He explains that although ABN Amro will continue its multi-brand strategy in selected markets, MasterCard will be the bank's preferred business partner and preferred payment card brand world-wide.
The card payment organisation has put together a dedicated team that will work with the bank in each of MasterCard's five regions.