Royal Bank of Scotland PLC reportedly has charged Visa Inc. with administering its debit-card business, with Visa swiping the account from Purchase, N.Y.-based MasterCard Inc.
RBS will continue to process credit card transactions on MasterCard”™s network, according to a report in The Wall Street Journal.
RBS is based in Edinburgh, Scotland and is building an Americas headquarters building in Stamford. In 2004, the company spent $360 million to acquire the credit card business of People”™s United Financial Inc., and continues to run the business in Bridgeport.
Combined with its Providence, R.I.-based subsidiary Citizens Financial Group, RBS ranked among the top 10 banks nationally last year in debit transaction volume, according to figures from Nilson Report.
