News

AFFN signs agreement with MasterCard International's online debit network

November 16, 2004

TAMPA, Fla. - The Armed Forces Financial Network and MasterCard International have announced a network alliance that will give AFFN-branded cards access to Maestro merchant and Cirrus ATM terminals worldwide, according to a news release. AFFN cardholders will now have access to more than 7 million merchants and 935,000 ATM locations.

AFFN is an electronic funds transfer network that supports 355 chartered military banks and defense credit unions that provide financial services to 89 million U.S. Armed Forces and civilian personnel cardholders on and around military installations worldwide.

Effective in the first quarter of 2005, cards carrying the AFFN-brand mark will be accepted for purchases and/or cash withdrawals at Maestro merchant and Maestro/Cirrus ATM locations.

AFFN qualified BINs will be added to Maestro/Cirrus BIN tables and merchants will treat AFFN like Maestro, the release added. The agreement does not require production of new card stock or include new branding or membership standards.

"Our member financial institutions can now deliver an even higher level of service and ensure that soldiers deployed at a moment's notice will always have their personal funds close at hand," said Larry Borden, executive vice president, Armed Forces Financial Network.