US-based Capital Bank has wrapped up the conversion of its debit card portfolio to platinum debit MasterCard-branded cards.
The lender said that the new cards will offer the same benefits Capital Bank cardholders had previously enjoyed, which include zero liability for unauthorised transactions and worldwide acceptance everywhere debit MasterCard is accepted, including ATMs.
Additional benefits include identity theft resolution services, including access to resources that will help restore stolen identities; alerts that provide early detection if personal information is being bought or sold online; emergency card replacement and cash advance services.
Moreover, the cardholders can avail price protection that pays back the difference on most new purchases, if it is advertised for less within the next 60 days.
They can also enjoy extended warranty, doubling the original manufacturer's or store brand warranty for up to one year.
Cardholders are also offered satisfaction guarantee, whereby they can return a product if they are dissatisfied within 60 days of purchase.
MasterCard will serve as the exclusive payment processor of all Capital Bank debit and ATM transactions, which will allow the bank to continue to meet customer needs for innovative, simple, safe and smart payment solutions.
Capital Bank chief technology and operations executive Zahid Afzal said: “We carefully studied the competitive landscape and were really impressed with the processing solutions of MasterCard Payment Transaction Services.
“We are excited to extend and build on our long-standing brand relationship with MasterCard. This new agreement will provide significant cost synergies, while enhancing functionality and security for customers.”
MasterCard senior vice president of North America global products and solutions Rich Rozbicki said: “The new Platinum Debit MasterCard represents convenience, service and value to all Capital Bank cardholders. The additional security layers provided by EMV chips also make the cards one of the safest available on the market today.”