Banc of California Teams with MasterCard for Debit Card Program

Feb 10, 2016, 09:00 ET from Banc of California, Inc.

IRVINE, Calif., Feb. 10, 2016 /PRNewswire/ -- Banc of California announced today it has teamed with MasterCard for its debit card program, and will transition its existing debit card portfolio from Visa in the second quarter of 2016.

"The growth and expansion of our payments business is key to our mission of empowering California's private businesses, entrepreneurs and communities," said J. Francisco A. Turner, Chief Strategy Officer for Banc of California.  "Our alliance with MasterCard will enable us to increase the profitability of this business and expand our capabilities within payment processing."

Banc of California will offer debit cards tailored to the needs of their diverse depository customers, representing over 60,000 depository accounts.  Debit cards will include premium award programs, enhanced security features and Banc of California's concierge services. 

"We congratulate Banc of California on becoming a MasterCard issuer," said John Ainsworth, executive vice president of North America, MasterCard.  "We are proud that Banc of California has selected MasterCard as their debit card network and we look forward to working with them as they grow their payment solutions business."

Additionally, Banc of California announced it has hired Ben Kessler as Managing Director, Payment Solutions to lead all payment related activities.  Mr. Kessler joins Banc of California from Earthport, a financial services payments organization, where he was Vice President, Global Account Management.  Previously, Mr. Kessler was with MasterCard Worldwide, where he served for 8 years and most recently as Vice President, Global Relationship Manager.  Additionally he comes with experience in senior roles at Canadian Imperial Bank of Commerce and American Express.  Mr. Kessler holds a B.A. from Brandeis University and a M.B.A. from New York University.

About Banc of California, Inc.
Banc of California, Inc. (NYSE: BANC) provides comprehensive banking services to California's diverse private businesses, entrepreneurs and homeowners. Banc of California operates over 100 offices in California and the West.

Forward-Looking Statements This press release includes forward-looking statements within the meaning of the "Safe-Harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements are necessarily subject to risk and uncertainty and actual results could differ materially from those anticipated due to various factors, including those set forth from time to time in the documents filed or furnished by Banc of California, Inc. with the Securities and Exchange Commission. You should not place undue reliance on forward-looking statements and Banc of California, Inc. undertakes no obligation to update any such statements to reflect circumstances or events that occur after the date on which the forward-looking statement is made.

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SOURCE Banc of California, Inc.