back Back

Visa becomes leading scheme provider for Lloyds Banking Group

By Gloria Methri

June 24, 2024

  • Bank of Scotland
  • Europe
  • FinTech
Share

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.”

Previous Article

June 24, 2024

QIB launches Easy Payment Plan for debit card transactions

Read More
Next Article

June 24, 2024

5 FinTechs enhancing Card Payment options in India

Read More






IBSi Daily News Analysis

cloud,

July 19, 2024

Bank of Scotland

SMEs leverage cloud to gain competitive edge, study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

4 BNPL platforms providing financial freedom to consumers in MENA

Read More

Today

Paytm & Axis Bank to offer POS solutions to merchants

Read More

Today

Klarna integrates Sofort payment service with Klarna Payments

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q2 2024
Know More
NextGen WealthTech: The Trends To Shape The Future Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2024