Mastercard and BOK Financial Corporation announce expanded payments agreement

Mastercard and BOK Financial Corporation (NASDAQ: BOKF) today announced an expanded agreement making Mastercard the exclusive payments network across BOK Financials’ debit and commercial portfolios, as well as extending its relationship with BOK Financials' TransFund processing business. Both companies will build an innovative, inclusive and sustainable future in banking, grounded in the shared values of advancing the communities they serve.

"Mastercard and BOK Financial share a passion and commitment to support and uplift our local communities. BOK Financial is more than a bank – it's a force for good, financial education and opportunity," said John Levitsky, president, U.S. Financial Institutions, Mastercard. “Through our expanded partnership, Mastercard will bring unparalleled expertise, technology, and services to drive new payment experiences, community impact and financial access for BOK Financial and its customers.”

“At BOK Financial, we continue to grow and invest in the future of our communities,” said David Reynolds, director of product management at BOK Financial Corporation. “Our expanded partnership with Mastercard will allow us to deliver a differentiated value proposition for our customers through cutting-edge technology and purpose-driven initiatives. Most importantly, we’re thrilled to be working with a company who holds a steadfast promise of connecting consumers to the things that matter most to them.”

Mastercard and BOK Financial will leverage Mastercard’s network, technology, and services to deliver trust, increase financial access, accelerate innovation, connect consumers with Priceless benefits and experiences and empower small businesses. Together, Mastercard and BOK Financial will:

• Deliver confidence at each transaction: with Mastercard’s leading cyber and intelligence solutions, BOK Financials’ customers will gain access to digital identify and tokenization technology to ensure each transaction is safe and secure.
• Expand inclusion & empower consumers: deliver customer-first banking tools and initiatives focused on providing financial access and literacy.
• Bring value added services to Transfund’s processing business: scale services and payments technology across one of the leading debit processors in the U.S.
• Drive commercial innovation: leverage Mastercard’s commercial portfolio across middle market and virtual card solutions to enable businesses to drive operational efficiencies and intelligent automation for today’s complex business environment.
• Enable Open Banking: leverage Mastercard’s Open Banking solutions to enable seamless account opening and consumer and small business lending solutions​.
• Deliver Priceless Experiences: access to Mastercard’s Priceless events, experiences, and cause-driven initiatives that align with their passions and purpose-driven initiatives.
• Accelerate Main Street: support the dynamic growth of Small Businesses with tools and mentorship resources like Digital Doors 2.0 to advance the communities across the region.
  
  

Additional details around the partnership, including details on new customer cards, will be released later this year.