May 05, 2009

Fifth Third Bank ($119 billion in assets) and MasterCard Worldwide have signed a multiyear contract extension. Under the agreement the Cincinnati-based bank, which has been issuing MasterCard products since 1980, will continue its partnership with MasterCard, issuing consumer and small-business debit; and consumer, small-business and commercial credit MasterCard cards.

"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 of Fifth Third Processing Solutions, a Fifth Third business, in a release announcing the agreement. "We are committed to offering industry-leading payment solutions that deliver real value to our customers."

Added Chris McWilton, president, U.S. Markets, MasterCard Worldwide, "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."