Flagstar Bank in Troy, Mich., has agreed to use NYCE Payments Network LLC as its exclusive carrier for point of sale debit purchases and automated teller machine transactions.
Flagstar previously used several debit networks, including NYCE.
Such exclusive deals have become more common in recent years as debit networks expanded to provide national coverage; in the past, financial companies would need to forge agreements with several regional networks to ensure that customers would be able to use their debit cards anywhere in the country.
"We are confident that NYCE's nationwide network coverage will make our transition to an exclusive relationship worry-free, and we believe that the conversion will result in even more opportunities for increased revenue and cost efficiency," Taryn Barlow, Flagstar's first vice president of retail banking operations, said in a press release.
Fidelity National Information Services Inc., which acquired NYCE and its parent Metavante Technologies Inc. last year, also handles production services for Flagstar's card programs.
