Bank of America has extended its debit card processing contract with Visa Debit Processing Service for an additional five years.
Visa DPS, Visa USA's debit processing division, will continue to support the bank's more than 17 million debit cards.
Bob Whyte, debit card executive for Bank of America, says: "Visa Debit Processing Service provides a single-point access solution for all Visa deposit access products, which has simplified our technical infrastructure and reduced our processing costs."
The bank recently committed their PIN-based POS volume to Visa USA's Interlink network and selected Visa DPS as their gateway provider for Interlink and Plus transactions.