“Česká spořitelna ends partnership with Mastercard and shifts to Visa”

Česká spořitelna, the largest payment card issuer in the Czech Republic, is ending its partnership with Mastercard and replacing its cards with Visa. The change will affect more than 360,000 clients and over half a million payment cards, as the bank plans to continue using only one card association to offer maximum flexibility and efficiently respond to technological innovations in the payment sector while providing benefits to all clients.

The bank will deliver new Visa cards to its clients by the end of July for those who use a Mastercard Standard card and MC Credit Card, while replacing other Mastercard cards may take until the end of the year. The bank reassured its clients that the change will not affect the limit settings for payments and withdrawals from an ATM, but the card number, expiration date, and security code will change.

According to Filip Hrubý, a spokesperson for Česká spořitelna, the use of cards from different card associations complicates the possibilities of technological implementations and loyalty programs or discount promotions for all bank clients. By unifying its card offering under a single association, the bank aims to increase operational efficiency, loyalty program, and promotional opportunities while maintaining high-quality payment services.

The shift to Visa is expected to help ease the transition process for clients as the association has a well-established presence worldwide. Nevertheless, clients should update their card details where they store the card, typically for prepaid services such as Netflix, Spotify, and others, to avoid any inconvenience caused by the change.

Overall, Česká spořitelna’s decision to unify its card offering under a single association shows the bank’s commitment to responding efficiently to technological innovations in the payment sector while ensuring that its clients benefit from the highest quality payment services.

Article by Prague Forum