ICBA Payments and Visa renew four-decade partnership

ICBA Payments, a subsidiary of the Independent Community Bankers of America, announced the renewal of its partnership with Visa Inc. (NYSE: V) that has spanned four decades, according to a press release statement.

The renewed collaboration will continue ICBA Payments' sponsored card programs with Visa, featuring contactless-enabled cards, tokenization for digital wallets, and access to Visa's global network. The partnership also includes comprehensive program support such as cardholder communications, marketing and operational services.

Under the expanded agreement, ICBA Payments will gain streamlined access to Visa Direct, Visa's real-time money movement platform, enabling community banks to deliver faster payment experiences for consumers, small businesses and commercial clients.

"This renewed collaboration reflects our shared commitment to enhancing the delivery of leading-edge payment products and services that align with the mission and model of community banking," said Jacob Eisen, CEO of ICBA Payments.

Bill Dobbins, senior vice president and head of U.S. enablement at Visa, stated that "Visa is proud to be the trusted network for more than 80% of ICBA member banks."

ICBA Payments operates as the 10th largest debit card issuer and 29th largest credit card issuer in the United States, representing over $43 billion in credit and debit sales, $913.4 million in outstandings and 10 million cards issued.

ICBA Payments has been managing payment solutions for community banks since 1985 and serves as a principal member for both credit and debit card programs through its partnership with Visa.

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