Public sector lender Syndicate Bank has entered into a deal with global payment service provider, MasterCard regarding the launch of its global debit card.

Both entities have signed a memorandum of understanding (MoU) in this regard. This would offer the cardholders of the bank with an additional e payment channel to carry on transactions with the global debit card.

Talking over the issue, Mr Ravi Chaterjee, Executive Director, Syndicate Bank, said: "The bank continuously endeavours to evolve and enhance the products to provide services for the card members. The new facility will facilitate 360 degree solution to all our existing and prospective customers."

The bank has a customer base of nearly 26 million. The bank wishes to give its customers an added advantage with the ‘Maestro Global Debit Card'. This would allow the customers to choose the Maestro advantage over normal payment needs.

According to Mr T. V. Seshadri, General Manager, South Asia, and Country President, India, MasterCard Worldwide, " This tie-up will help to curtail the inefficiencies related to cash and cheque transactions and meet unique consumer demands with innovative and smarter payment solutions."