|Tristan Jordan MasterCard Worldwide +1 914 249 5724|
USAA to Implement MasterCard IPS Processing Platform
Financial Institution to Exercise Platform’s Full Debit Issuer Processing Services
“We believe that the capabilities of MasterCard IPS will position USAA to address and adapt to the unique and changing payment needs of our members around the globe while offering the most advanced services,” said David Bohne, President, USAA Federal Savings Bank.
MasterCard IPS is designed to help financial institutions create differentiated products and services and expand their payment portfolios across multiple business channels with efficient administration and minimal infrastructure investment. Issuers will be able to save considerable time and resources when designing and deploying new products and services by simply providing data for the platform’s pre-determined parameters. With its proprietary Portfolio Viewer tool, IPS delivers a 360-degree view of aggregated cardholder intelligence across debit and prepaid products that can help issuers customize their offerings.
“By implementing the debit card processing capabilities of MasterCard IPS, USAA will be able to strengthen its ability to quickly deliver the innovative products and services critical to maintaining its competitive edge,” said Chris McWilton, President, U.S. Markets, MasterCard Worldwide. “USAA is widely known for its rigorous business standards and highest level of member service, and we believe this expanded relationship will increase the value it will deliver to its loyal customer base.”
With more than $31 billion in deposits as of Mar. 31, 2009, USAA Federal Savings Bank is the 23rd largest bank in the nation. USAA has been recognized by BusinessWeek for the past three years as a "Customer Service Champ," highlighting the association’s legendary commitment of providing highly competitive financial products for 7.2 million members.
USAA joins a growing list of issuers that have implemented MasterCard IPS. In May 2009, The Travelex Group, the world’s largest distributor of foreign currency prepaid cards, announced that it will implement the global prepaid transaction processing capabilities of MasterCard IPS to support new and existing consumer and corporate MasterCard Cash Passport™ cards. In December 2008, Swiss Bankers Prepaid Services Ltd. became the first financial institution to take advantage of the platform’s global prepaid transaction processing capabilities. This followed the announcement of a brand-exclusive MasterCard IPS implementation by Security Service Federal Credit Union, the 10th largest credit union in the United States. MasterCard IPS has been named to the “InfoWorld 100,” an award that recognizes information technology projects that use technology in smart, innovative and creative ways to meet business and technical objectives.
Statements in this press release which are not historical facts, including statements about MasterCard’s plans, strategies, beliefs and expectations, are forward-looking and subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements speak only as of the date they are made. Accordingly, except for the company’s ongoing obligations under the United States federal securities laws, the company does not intend to update or otherwise revise the forward-looking information to reflect actual results of operations, changes in general economic or industry conditions, changes in financial condition, changes in estimates, expectations or assumptions or other circumstances arising and/or existing since the preparation of this press release or to reflect the occurrence of any unanticipated events. Such forward-looking statements include, without limitation:
- the ability of MasterCard IPS to enable financial institutions to create differentiated products and services across multiple business channels with efficient administration and minimal infrastructure investment;
- the ability of MasterCard IPS to enable financial institutions to save considerable time and resources when designing and deploying new products and services by providing data for the platform’s pre-determined parameters; and
- the ability of MasterCard IPS to enable financial institutions to strengthen their ability to quickly deliver the innovative products and services critical to maintaining a competitive edge.
About MasterCard Worldwide
MasterCard Worldwide advances global commerce by providing a critical economic link among financial institutions, businesses, cardholders and merchants worldwide. As a franchisor, processor and advisor, MasterCard develops and markets payment solutions, processes approximately 21 billion transactions each year, and provides industry-leading analysis and consulting services to financial-institution customers and merchants. Powered by the MasterCard Worldwide Network and through its family of brands, including MasterCard®, Maestro® and Cirrus®, MasterCard serves consumers and businesses in more than 210 countries and territories. For more information go to www.mastercard.com.