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Visa becomes leading scheme provider for Lloyds Banking Group

By Gloria Methri

June 24, 2024

  • Bank of Scotland
  • Europe
  • FinTech

Visa, Lloyds Banking Group, Lloyds Bank, Halifax, Bank of Scotland, MBNA, FinTech, Digital Payments, FinTech, UKLloyds Banking Group and Visa have expanded their 40-year partnership in the UK, with Visa becoming the leading scheme provider for Lloyds Bank, Halifax, Bank of Scotland and MBNA consumer and commercial customers.

Under the partnership, Lloyds Banking Group and Visa plan to launch a series of products and services across the Group’s brands to help customers best manage their financial and lifestyle needs. The agreement also enables greater use of Visa’s fraud prevention capabilities.

Visa will continue to provide all Lloyds Banking Group’s consumer and business debit cards, including over 30 million Visa credentials already in issue, as well as the majority of consumer and commercial credit cards. Around 10 million cards will migrate to Visa by the end of 2026.

Marc Lien, Credit Cards Managing Director at Lloyds Banking Group, said, “Our expanded partnership with Visa brings significant benefits to our customers, offering a seamless way to make payments. In addition, we have a range of upcoming innovative new products and services. We look forward to sharing the details of these with customers in the future.”

Mandy Lamb, Managing Director, UK & Ireland at Visa, said, “We are excited to take our long-standing partnership with Lloyds Banking Group to the next level, building on 40 years working together, delivering solutions that customers use and love. Together, we’ll be enhancing the experience for debit card users whilst launching innovative new products and services for credit card users, too. All Visa’s products and services are underpinned by our global commitment to be the best way to pay and be paid, supported by our market-leading £8 billion investment in technology over the past 5 years and our fraud-fighting solutions, meaning fraud levels remain negligible on cards.”

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