UK's Metro Bank, which is scheduled to open on July 29, 2010, has signed an exclusive five year deal with MasterCard, for payment products.

According to MasterCard, through the new partnership it will support a range of services innovations that will be available to Metro Bank customers, including the ultimate in new account opening convenience. Metro Bank customers will be able to receive fully personalized and ‘ready to go’ MasterCard debit and credit cards.

Metro Bank will become the latest major UK high street bank to provide customers with Debit MasterCard, a new generation debit card which is accepted at over 30 million retail locations and 1.5 million ATMs around the world.

Metro Bank will initially open two stores in London, with plans to open further 12 stores in Greater London over the next two years and expand the store network to more than 200 over the next decade.

Hany Fam, general manager of MasterCard UK & Ireland, said: “The partnership with Metro Bank demonstrates how our innovative approach to payments and genuine commitment to supporting our partners is attracting new entrants to the retail banking market to work with us.”

Craig Donaldson, CEO of Metro Bank, said: “We’re delighted that MasterCard has become our payment partner. Its expertise and support has been vital in bringing Metro Bank to market so quickly. We believe, and know, that UK consumers are looking for a different and better banking experience. Working with MasterCard has enabled us to offer a great range of innovative payment services that will allow us to best serve the banking needs of the consumer and business communities.”