Allied Irish Bank and MasterCard have agreed to collaborate to help convert the bank's full debit and ATM-only card portfolios to Maestro.
Under the terms of the agreement, all Allied Irish Bank (AIB) debit and ATM cards will be co-branded Laser Maestro. As a result of the deal, which will come into effect immediately, AIB will double its portfolio of Maestro-branded cards.
The conversion is the largest portfolio migration of its kind ever seen in Ireland and, as a result, AIB and MasterCard will provide a single European payments area (Sepa)-compliant product in the Irish market.
Cardholders will benefit from the international reach of the Maestro brand and the strength of the AIB MasterCard partnership through increased international acceptance of their cards and a common debit card experience across the Sepa region, where paying for something or withdrawing money will cost the same and be as safe as making payments at home.
Linda Reid, senior account manager at MasterCard Europe, said: MasterCard has a long working relationship with AIB, being first selected as their debit partner five years ago, and we are excited to be expanding this relationship and to be supporting AIB as it becomes Sepa-compliant.
Customers will be notified in writing of the migration to Maestro before their current card is replaced.