PURCHASE, N.Y. – MasterCard said yesterday that SunTrust Banks will convert the company's debit card programs to MasterCard.
After the conversion to MasterCard-branded debit cards, which is expected to begin late this year, SunTrust will issue approximately 5 million MasterCard debit cards that can be used everywhere MasterCard debit cards are accepted, including ATMs.
In addition to MasterCard debit cards, SunTrust will expand its current commercial card offering in the future to include MasterCard branded commercial credit cards. SunTrust will continue to offer Visa branded cards as an option for various consumer and commercial credit products.
The terms of the agreement were not disclosed.
