Fifth Third Bank Signs a Multi-year Contract Extension; Will Continue Issuing Consumer Debit, Small Business Debit, Consumer Credit, Small Business Credit and Commercial Credit MasterCard Cards
PURCHASE, N.Y., April 30 /PRNewswire/ -- MasterCard Worldwide today announced a multi-year contract extension with Fifth Third Bank. Under the agreement, Fifth Third Bank will continue its partnership with MasterCard, issuing Credit and Debit MasterCard cards for both consumers and corporations.
"By extending the MasterCard relationship, Fifth Third Bank cardholders will continue to have access to reliable payment card products that are accepted all over the world," said Charles Drucker, president, Fifth Third Processing Solutions. "We are committed to offering industry-leading payment solutions that deliver real value to our customers."
Fifth Third, holding $119 billion in assets, and operating 16 affiliates with 1,311 full-service banking centers in the U.S., has been issuing MasterCard products since 1980.
"We value our long-standing partnership with Fifth Third Bank and look forward to helping them further grow their payment card business through innovative product offerings and valuable cardholder insights," said Chris McWilton, president, U.S. Markets, MasterCard Worldwide. "With MasterCard, Fifth Third Bank is well-positioned to meet the evolving payment demands of today's consumers and corporations."
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(R), Maestro(R) and Cirrus(R), MasterCard serves consumers and businesses in more than 210 countries and territories. For more information go to www.mastercard.com.
About Fifth Third
Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. The Company has $119 billion in assets, operates 16 affiliates with 1,311 full-service Banking Centers, including 95 Bank Mart(R) locations open seven days a week inside select grocery stores and 2,354 ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Pennsylvania, Missouri, Georgia and North Carolina. Fifth Third operates five main businesses: Commercial Banking, Branch Banking, Consumer Lending, Investment Advisors and Fifth Third Processing Solutions. Fifth Third is among the largest money managers in the Midwest and, as of March 31, 2009, has $166 billion in assets under care, of which it managed $23 billion for individuals, corporations and not-for-profit organizations. Investor information and press releases can be viewed at www.53.com. Fifth Third's common stock is traded on the NASDAQ(R) National Global Select Market under the symbol "FITB."
Media Contacts:
Brian Greehan, MasterCard Worldwide, Tel. +1 914 249 5895, brian_greehan@mastercard.com
SOURCE MasterCard Worldwide
