Raiffeisenbank to replace Mastercard with Visa

Raiffeisenbank has announced it will cease issuing Mastercard branded cards, transitioning its clients exclusively to Visa. The bank plans to replace existing Mastercard holders with new Visa cards throughout 2027. The bank will contact clients progressively to facilitate the exchange, regardless of the current card's expiration date.

This shift affects specific benefits, particularly for Exclusive Account holders. Previously, clients could choose between Visa Gold and Mastercard, which included four Lounge Key airport lounge entries. Under the new arrangement, clients will hold a Visa Gold card, with the option to provide a second card to a partner or family member to maintain account benefits. While Raiffeisenbank was one of the few Czech institutions offering a choice between both providers, other banks like Fio, mBank, and Komerční banka also offer similar selections.

The transition is described as a standard business negotiation between banks and payment networks. Both Mastercard and Visa are US-based corporations with similar global infrastructures and major shareholders, such as BlackRock and Vanguard. For the average consumer, daily functions including in-store payments, ATM withdrawals, and digital wallet integration via Apple Pay or Google Pay will remain unchanged.