Mastercard and BOK Financial expand payments partnership

Wednesday 31 January 2024 11:57 CET | News

Mastercard and BOK Financial Corporation have announced an extended partnership, with Mastercard becoming the exclusive payments network for BOK Financial's debit and commercial portfolios.


This agreement also includes an extension of the relationship with BOK Financial's TransFund processing business. The collaboration aims to drive innovation and sustainability in banking, emphasizing their shared commitment to community advancement.

David Reynolds of BOK Financial highlights the shared commitment between Mastercard and BOK Financial to uplift and strengthen local communities. He emphasizes that BOK Financial extends its focus beyond traditional banking services by prioritizing financial education and creating opportunities for individuals. Through the expanded partnership with Mastercard, Reynolds suggests that Mastercard will contribute its knowledge, advanced technology, and services to introduce innovative payment experiences. Additionally, he mentions that this collaboration will have a positive impact on the community by improving financial access for both BOK Financial and its customers.

Mastercard and BOK Financial Corporation have announced an extended partnership, with Mastercard becoming the exclusive payments network for BOK Financial's debit and commercial portfolios.


He emphasizes the company's dedication to fostering the growth and prosperity of the communities it serves. Reynolds highlights that the strengthened partnership with Mastercard allows BOK Financial to offer distinctive benefits to its customers through innovative technology and intentional initiatives. Reynolds expresses enthusiasm about collaborating with a company that shares their values and commitment to prioritizing consumers' needs and interests.

A vision of the future

Mastercard and BOK Financial plan to leverage Mastercard's network, technology, and services to enhance trust, expand financial access, foster innovation, provide Priceless benefits to consumers, and support small businesses. Together, they aim to:

  • Ensure secure transactions: By utilizing Mastercard's cyber and intelligence solutions, BOK Financial customers will benefit from digital identity and tokenization technology to enhance transaction security.

  • Promote inclusion and empower consumers: Implement customer-centric banking tools and programs focused on improving financial access and literacy.

  • Enhance services for TransFund's processing business: Expand services and payments technology across one of the leading debit processors in the US.

  • Drive commercial innovation: Utilize Mastercard's commercial portfolio to offer middle-market and virtual card solutions, enabling businesses to improve operational efficiencies and leverage intelligent automation.

  • Enable Open Banking: Utilize Mastercard's Open Banking solutions to facilitate seamless account opening and provide lending solutions for consumers and small businesses.

  • Offer Priceless Experiences: Provide access to Mastercard's Priceless events, experiences, and cause-driven initiatives aligned with purpose-driven initiatives.

  • Support Small Businesses: Assist in the growth of small businesses with resources like Digital Doors 2.0, aimed at advancing communities across the region.

More details about the partnership, including information on new customer cards, will be disclosed later in 2024.

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Keywords: partnership, payments network, financial services, credit access, credit card, debit card
Categories: Payments & Commerce
Companies: Mastercard
Countries: World
This article is part of category

Payments & Commerce


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