MasterCard Signs Up Lloyds TSB

26th April 2007

Mastercard and LLoyds TSB have signed a deal to issue most of the bank's credit cards using the MasterCard brand. The deal is one of the largest of its kind ever seen in the UK and will see a doubling in the size of MasterCard branded Lloyds TSB credit cards in issue over the next year.

"We have a very strong relationship with MasterCard and are delighted to enter into this partnership. The relationship allows us to develop unique products with MasterCard to meet our customers' everyday payment needs and build even greater security to protect our customers against credit card fraud" said Colin Walsh, Lloyds TSB Credit Card Director.

"This deal represents a significant landmark in the evolution of our UK business and underscores our commitment to forging deeper relationships with our key banking customers. Our ability to provide banking customers with a combination of market expertise and analysis, as well as innovative and profitable product solutions has played an essential role in helping us to clinch this deal. We're delighted that Lloyds TSB, as a major High Street banking player, has chosen to partner with us" said a Mastercard spokesman.

As an addition to the MasterCard credit cards available, the bank will continue to offer a Lloyds TSB balance transfer offer on credit cards with American Express branding.