ICBA Payments, the payments-services subsidiary of the Independent Community Bankers of America (ICBA), has forged a new partnership with payments giant Mastercard to offer enhanced card and payment services for 1,400 community banks.
Through the new strategic partnership with Mastercard, ICBA Payments aims to help community bankers modernise their card programmes through new innovative features, providing an enhanced customer experience.
“Today, we’re not only upgrading payments but also investing in the future of our local communities,” explained Jacob Eisen, CEO of ICBA Payments. “By partnering with Mastercard, we’re equipping our member banks with innovative, secure, and cost-effective solutions that empower them to support and grow the neighborhoods they serve. Together, we are paving the way for stronger local economies and enduring customer relationships.”
The agreement will see Mastercard manage all cardholder communication and marketing through the transition. Mastercard will also deliver custom-curated joint marketing assets to help improve cardholder activity for ICBA Payments’ member banks.
ICBA Payments will upgrade its sponsored card programmes to Mastercard at no cost and will feature contactless plastics, tokenisation to digital wallets, as well as industry standard 8-digit BINs and business BIN optimisation.
“At Mastercard, we believe that the heart of economic progress lies in the strength of local communities, Marie Elizabeth Aloisi, executive vice president of US market development at Mastercard, also added. “This is where we share likeminded values with ICBA Payments, working to bring more people and businesses into the digital economy. Together, we are enabling community banks to drive financial empowerment, foster local growth, and create a more connected and resilient future for every community they serve.”
ICBA Payments aims to help community banks of all sizes navigate their payment needs to compete and thrive. Collectively, ICBA Payments client banks represent over $43billion in credit and debit sales, $918million in outstandings, with 10 million cards issued, also ranking them as the 10th largest debit card issuer.
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