(6 November 2015 – Australia) National Australia Bank (NAB) and Visa have entered a 10-year exclusive agreement in a bid to deliver better and more innovative products for customers.
NAB Group Executive for Product & Markets, Antony Cahill, said the deal was designed to accelerate the delivery of payments innovation and product development for customers.
“Under the terms of the deal, NAB and Visa will work together to deliver improved digital capability and innovative payments solutions to the market,” Cahill said.
“This is another important partnership that will position this bank to act more quickly for our customers with enhanced access to new payments capability, technology and insights.
Visa’s Group Executive for Asia Pacific, Chris Clark, said: “Australian payments are in a time of transformation, from mobile to connected devices to future innovations that haven’t been created yet. We’re looking forward to a productive long term collaboration.”
In a statement, the banks said that partnership “will also boost NAB’s access to and ability to analyse key data, leading to more informed business decisions and therefore better, more relevant products for customers.”