Visa and M&I Bank Continue 30-Year Partnership
Wisconsin-Based Bank to Continue Issuing Visa Credit, Debit and Commercial Solutions
SAN FRANCISCO--(BUSINESS WIRE)--Dec. 3, 2008--Visa Inc. (NYSE: V) today announced it has signed a seven-year agreement to renew its partnership with Wisconsin-based M&I Marshall & Ilsley Bank (M&I Bank), an affiliate of Marshall & Ilsley Corporation (NYSE: MI). M&I Bank's relationship with Visa began in 1977.
Under the terms of the agreement, Visa will provide payment programs for credit, debit, prepaid and commercials cards, as well as merchant acquiring services. As consumers increasingly look for more choices in how they control their funds, Visa provides a range of electronic payment product services that deliver greater choice, convenience, and security.
"Over the past 30-plus years, Visa's broad range of payment services has helped us deliver on our promise to provide high quality products and services to our customers," said Brian Bieger, senior vice president, M&I Bank.
"From credit and debit cards to commercial cards, Visa has worked closely with M&I Bank over the years to provide more convenient, secure and reliable payment options for their customers," said Bill Sheedy, President, North America, Visa Inc. "We look forward to building on our long-standing partnership and continue to meet the changing needs of cardholders as we migrate away from paper-based payments toward electronic payments."
About Visa Inc.
Visa Inc. operates the world's largest retail electronic payments network providing processing services and payment product platforms. This includes consumer credit, debit, prepaid and commercial payments, which are offered under the Visa, Visa Electron, Interlink and PLUS brands. Visa enjoys unsurpassed acceptance around the world, and Visa/PLUS is one of the world's largest global ATM networks, offering cash access in local currency in more than 170 countries. For more information, visit www.corporate.visa.com
About M&I Bank
M&I Bank is an affiliate of Marshall & Ilsley Corporation (NYSE: MI), a diversified financial services corporation headquartered in Milwaukee, Wis., with $63.5 billion in assets. Founded in 1847, M&I Marshall & Ilsley Bank is the largest Wisconsin-based bank, with 193 offices throughout the state. In addition, M&I has 52 locations throughout Arizona; 32 offices in Indianapolis and nearby communities; 31 offices along Florida's west coast and in central Florida; 15 offices in Kansas City and nearby communities; 24 offices in metropolitan Minneapolis/St. Paul, and one in Duluth, Minn.; and one office in Las Vegas, Nev. M&I's Southwest Bank subsidiary has 17 offices in the greater St. Louis area. M&I also provides trust and investment management, equipment leasing, mortgage banking, asset-based lending, financial planning, investments, and insurance services from offices throughout the country and on the Internet (www.mibank.com or www.micorp.com). M&I's customer-based approach, internal growth, and strategic acquisitions have made M&I a nationally recognized leader in the financial services industry.
CONTACT: Visa Inc.
Jennifer Doidge, +1-415-932-2564
Source: Visa Inc.