To tweet this news, copy and paste http://bit.ly/JQo29F to your Twitter handle with the hashtag #MasterCard, #inControl, #CardBenefits

Philippines, 16 May 2012 - As they have a busy lifestyle, Mike and Anna Lim¹ have turned to payment cards to help them conveniently, safely and easily manage their family’s finances.  However, there are times when they want to exercise more control in spending, especially when it involves family members.

“It would be nice if we could have more financial flexibility by tailoring the use of our payment cards.  Managing our family’s finances would be a lot easier and more secure if we can specify how, when and where our cards are used, and allocate appropriate amounts for each transaction,” says Mike.

Fortunately, Mike and Anna have found the answer with MasterCard inControl^TM Family Solution, a revolutionary suite of services that offers a safe way to provide their family members with access to supplementary credit, debit or prepaid cards and keep within responsible spending boundaries.

MasterCard inControl Family Solutions helps families like the Lims better manage, view and control their purchases with features like merchant category controls, budget and usage controls, geographic controls and even day and time controls, which can be set online and in real time.

Merchant Category Controls

Spending only for the things that matter is important, that is why Mike and Anna ensure that their family members know how to prioritize spending – especially those who live far from home.  “Our son Charlie is studying overseas so it’s important that he knows how to manage money on his own,” says Mike.

With MasterCard inControl Family Solutions, Mike is able to apportion reasonable amounts for important things like a weekly sum for dining, entertainment and groceries, quarterly visits to the bookstore, daily transport fares and all the essentials needed to study and live overseas.  “I can also set alerts on retail purchases, add new category controls or revise our current budget parameters for Charlie when new needs arise,” says Mike.

Anna says these category controls also help her manage the bulk of household spending such as daily dining, weekly gas, monthly bills and yearly holidays.  “What I like best about MasterCard inControl Family Solutions is that it helps us track our budget by alerting us if and when we exceed our planned spending limits,” says Anna.  To further tailor their budget controls, Anna says they have also provided their helper Maria with a prepaid MasterCard card, which has been allocated with a set amount for weekly groceries at their neighborhood supermarket.  Their driver Ralph also has a prepaid MasterCard card with set amount for weekly gas purchases.

Budget and Usage Controls

Anna knows that young cardholders find it challenging to properly use a credit card.  “Our daughter Lisa loves to shop and simply giving her a credit card could be a recipe for financial disaster,” says Anna.  Through MasterCard inControl Family Solutions, Anna gives Lisa the freedom to spend but within a fixed budget.  “We set a monthly spending limit on her card.  This way, she won’t have to keep asking for an allowance.”  Mike adds, “Lisa will also learn how to spend responsibly because she knows she’s not supposed to exceed the amount we have set for her retail purchases each month.  If and when she does, MasterCard InControl will notify me of any unauthorized card use and block all transactions that are deemed inappropriate.”

Geographic Controls

The beauty of having a MasterCard card is that it can be conveniently used in more than 210 countries and territories.  But for security reasons, Mike says there are times when they prefer to use it in one specific country, especially for his mom Ivy who rarely travels overseas.  “Using MasterCard inControl Family Solutions’ country settings feature, we can specify exactly which countries our cards can be used, giving us peace of mind that money can’t buy,” says Mike.

Day and Time Controls

With a child studying overseas, Mike and Anna want to feel assured that Charlie is using his card for school and not for partying.  “Using MasterCard inControl Family Solutions, we can set Charlie’s card to work on specific dates, times and time zones, say, only on weekdays between 6 am and 8 pm, Central European Summer Time.  For the rest of our family, I’ve set our cards to work only between 8 am and 11 pm, since we’re usually in bed by midnight,” says Mike.

MasterCard inControl Family Solutions’ revolutionary features are definitely a boon to families who want more out of their payment cards.

Poch Villa-Real, country manager, MasterCard Philippines said, “MasterCard inControl Family Solutions reflects our focus on using the latest technology, consumer trends and our global network to provide unparalleled card functionality.  With MasterCard inControl Family Solutions, we empower cardholders to efficiently manage their finances and give them a clearer picture of their spending behavior.”

Indeed, MasterCard inControl Family Solutions gives families increased transparency, greater spending confidence and enhanced security, making family financial management easier and more convenient.

About MasterCard

MasterCard (NYSE: MA), www.mastercard.com, is a global payments and technology company. It operates the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard’s products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MasterCardNews, join the discussion on the Cashless Conversations Blog and subscribe for the latest news.

Contacts:

Judith Marie Dayrit, (632) 841-6800, judith_dayrit@mastercard.com

Edd Fuentes, (632) 893-9355, info@fuentesmanila.com  

First, I recommend finding an ideal travel card.  I like my World Elite MasterCard because it has great travel, service and rewards benefits.  Whether you love cruises, are an airline loyalist or want a card that saves you on foreign transaction fees, the right card is out there to fit your travel style.  Check out our website to find the card that makes the most sense for you.

Next, I like to get the most out of my card while planning my trip. There are many exciting card benefits that you might not realize exist.  For example, when I’m looking for things to do during a stay in the city, I contact the World Elite Global Concierge Service to pre-book dining and entertainment or access  Priceless Cities offers.  Whether taking the train into New York or flying to London, I know I can book unforgettable experiences with my MasterCard card.  When planning trips to new destinations, I turn to my World Elite MasterCard card, which includes the benefits of a personal travel advisor available 24/7, travel upgrades, late check out and special savings and offers.

Finally, the last thing I like to check off my pre-vacation list is worry.  That’s why I rely on electronic payments over cash and traveler’s cheques, especially when travelling abroad.  Using payment cards is safer and more convenient than carrying around large amounts of foreign currency or traveler’s cheques.  The World Elite MasterCard  offers protections – including extended warranty on purchases, trip cancellation insurance, and Emergency Card Replacement, so the trip you’ve spent months dreaming about won’t be ruined, even if the unexpected occurs.

Tell us, what credit card benefits do you most take advantage of when you travel?

O’Malley will become MasterCard’s Chief Payment System Integrity Officer responsible for the management of global strategies that address enterprise-wide information security, customer security and risk services, fraud investigations, and fraud management solutions. O’Malley also will join the MasterCard Operating Committee. O’Malley replaces Wendy Murdock, who is taking on the role of Group Executive, Policy and System Integrity Development, focusing on strategic outreach to policymakers globally on data security and fraud management issues.

O’Malley has more than 25 years of experience in senior management positions at various U.S.-based financial institutions, with a primary focus on fraud prevention and asset recovery, financial risk and loss mitigation, product development, and leadership development. She has served on MasterCard’s Global Fraud Advisory Committee since 2000 and is a frequent speaker at industry conferences, including the MasterCard Global Risk Management Conferences.

Having built her career within USAA Federal Savings Bank in San Antonio, O’Malley has served in a number of roles, including: Vice President of Collections, Recovery and Fraud Control with responsibility for payment risk management for USAA banking and insurance products; and Vice President and Executive Director of Account Services with responsibility for fraud control and back office operations; and Assistant Vice President and Banking Counsel. Most recently, Nancy was Vice President of Asset Recovery for Security Service Federal Credit Union where she served as the senior officer responsible for collections, recovery and loss mitigation operations.

“I’m pleased to announce the appointment of Nancy O’Malley as MasterCard’s Chief Payment System Integrity Officer,” said Noah Hanft, MasterCard General Counsel and Chief Franchise Integrity Officer. “Nancy is a proven leader with a deep understanding of the payment card industry. Her leadership and extensive experience in multiple areas of the financial services business combined with her fraud management experience will greatly benefit our customers and advance MasterCard’s ongoing commitment to protect the integrity of the payment card industry.”

About MasterCard Worldwide

MasterCard (NYSE: MA), www.mastercard.com, is a global payments and technology company. It operates the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard’s products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter@MasterCardNews, join the conversation on The Heart of Commerce Blog and subscribe for the latest news.

Source: MasterCard Worldwide

MasterCard Worldwide
Jim Issokson, 914-249-6286
James_issokson@mastercard.com

]]> http://newsroom.mastercard.com/press-releases/mastercard-names-nancy-omalley-as-chief-payment-system-integrity-officer/feed/ 0 http://newsroom.mastercard.com/2012/05/14/the-wireless-world-was-buzzing-about-payments-in-the-big-easy-2/ http://newsroom.mastercard.com/2012/05/14/the-wireless-world-was-buzzing-about-payments-in-the-big-easy-2/#comments Mon, 14 May 2012 06:35:43 +0000 Joanne Trout http://newsroom.mastercard.com/?p=16574 Read More]]> As the wireless industry gathered this week at CTIA in New Orleans, we saw an emerging part of our business – mobile payments – take center-stage. This truly is an exciting time as MasterCard and other technology providers converge and collaborate with the best and brightest in the wireless world. Your mobile phone is poised to become a powerful commerce tool that fundamentally changes the way you shop and pay for goods.

At CTIA, we unveiled PayPass Wallet Services, a suite of services that gives people a safe, simple way to pay for goods whether in-store or online. (You can watch the announcement here). We introduced the Mobile Payments Readiness Index (MPRI), highlighting the challenges we face in creating a world where mobile payments is a reality for more people. We’re all going to have to work together to bring this technology to consumers.

On a related note, we also just opened up a slew of APIs that will foster collaboration by giving developers access to the MasterCard network to create their very own innovative apps. These announcements and others made us stand out. LAPTOP gave us the “Best of CTIA Wireless 2012″ award for “Best Mobile Payment Technology.”

But this is just the beginning for mCommerce. As Gary Flood, President of Global Products and Solutions, outlined in his CTIA keynote address, we’ve started down a path that takes us from a world beyond cash into a world beyond plastic (watch the highlights here). For years, we’ve been known as the brand behind the plastic card. We’re about to be known as the tech company making payments happen seamlessly through computers, tablets and smart phones.

As we evolve our business, our end objectives remain much the same – making the buying experience safe, simple and smart for consumers. So stay tuned and keep the ideas coming. CTIA was just a sneak-peek for what’s to come. For more detail, visit our CTIA Digital Press Kit.

The launch of the Young Entrepreneurs initiative is great news for 700 young people in Delhi and Mumbai who will learn how to start and grow their own small businesses.  It also confirms the growing recognition that public/private partnerships offer the most productive ways to create long-term, sustainable change in our communities.

I am very pleased we are partnering with MasterCard Worldwide in this endeavor.  IYF has been engaged in India for over a decade, working with tested partners such as the Community Collective Society for Integrated Development to improve the prospects of India’s young people.  And MasterCard has demonstrated its commitment to financial inclusion, through teaching entrepreneurship and financial literacy.  Together, we know there are simply not enough jobs in the private sector for the 12 million youth who enter India’s labor market every year to find decent employment. These creative and ambitious young people need alternative ways to support themselves, their families and build their futures.   This new initiative means hundreds of emerging young entrepreneurs can build their own businesses, and in many cases provide much needed jobs within their communities.

Each of the world’s 1.2 billion young people holds this same potential to lead productive lives and contribute to society.  Yet most don’t have the resources to realize their potential. And let’s face it, time is running out to turn the global demographic youth bulge into an economic and social asset.

IYF recently published “Opportunity for Action: Preparing Youth for 21^st Century Livelihoods,” which describes the enormous needs facing today’s young people. It concludes with a call to action that demands that efforts to solve these problems be collective, massive, and global.  Young Entrepreneurs serves as a model for what IYF and MasterCard Worldwide, and a growing number of global companies, hope will snowball into a long term  commitment to prepare young people everywhere for a decent job or successful business.

As I get ready to moderate our  Cashless Conversation  today, here  at our company’s headquarters in Purchase, NY, I have been reflecting on why we at MasterCard believe a world beyond cash is a better world:

• It’s a safer world.

For consumers, as they have to worry less about being mugged or losing their wallet.

For societies, as a lot of criminal activities rely on cash.

• It’s a simpler world.

Where retailers get guaranteed payment, and don’t have to worry about handling cash.

Where consumers need only one payment card or device to pay online, in-store or abroad.

• It’s a smarter world.

Where businesses and consumers manage their budgets and payments at their fingertips.

So what is MasterCard doing to advance a world beyond cash? We can break it down into three areas:

• Expanding card acceptance – to convert cash-heavy geographies and categories (eg. toll-roads, parking facilities, transit, or any micro-merchant).

•  Engaging consumers – to understand what makes them replace cash and to tailor our products based on those insights.

• Partnering with governments around the world – to build more efficient payment systems.

Last week we started a contest among our community as to why they are ditching cash, and it’s interesting to see that they are ditching cash for many of the same reasons why we believe in a world beyond cash…not to mention all those benefits, you simply cannot get with cash. 

So tell me, do you believe in A World Beyond cash?  Let us know and don’t forget to join our #CashlessConvo on Twitter today at 10:45 am (ET).

How do people use cash? Does the way that they use cash ultimately affect their costs, and how?

The Center for Emerging Market Enterprises has a yearlong research project spanning consumers, merchants and financial institutions, entitled The Cost of Cash in the United States. Our study looks at patterns of cash use and the frictions of cash on a total-cost-of-ownership basis.

Cash without a doubt has virtues: nearly universal acceptance, zero startup costs, no annual fee, and no downtime. These benefits come with tradeoffs: higher costs and risks for savings, borrowing, payments, and insurance. Still, mobile money and would-be cash killers haven’t quite been able to replicate cash’s key virtues: privacy, budget discipline, and transferability.

We are studying which costs and risks scale with cash use: transaction fees, security risks, logistics and shoe leather costs. Preliminary findings suggest a few important drivers of cash costs. Consumers show a huge generational gap in cash balances. Merchants have taken on the challenges of POS cash back, while the number of ATMs nationally has declined slightly for the first time in decades. Depository institutions are outsourcing cash processing and insourcing Fed deposits, largely out of sight but with potentially big impacts on expenses. Unbanked and underbanked consumers effectively have a heavier asset allocation in cash, while facing higher prices for expensive à-la-carte financial services.

We also held an on-campus contest, the Cashless vs. Cardless Smackdown, during which students gave up either cash or cards for a week in April and blogged their experiences.

We are excited to engage in a discussion of the future of cash with MasterCard executives and David Wolman.

If successful, the Competition Bureau’s actions could expose Canadian consumers to unfair checkout fees or gouging when they use their cards to pay. Under our rules, merchants are free to encourage consumers to use other forms of payment and even to offer discounts for cash, cheque or any other payment option the merchant prefers.

In addition, MasterCard Canada’s Honour All Cards rule protects consumers by eliminating the uncertainty about whether and where their cards will be accepted. Preventing merchants from picking and choosing which MasterCard cards they accept is recognized as an important consumer protection and, for this reason, no jurisdiction in the world has banned the Honour All Cards rule.

We intend to vigorously defend the merits of our pro-consumer policies to ensure our cardholders continue to be protected.

###

MasterCard (NYSE: MA) www.mastercard.com, is a global payments and technology company. It operates the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard’s products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MasterCardNews, join the discussion on the Cashless Conversations Blog and subscribe for the latest news.

To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/May2012/08/c5542.html

SOURCE: MasterCard Canada

Yvonne Catty MasterCard Canada (416) 365-5554 /Yvonne_catty@mastercard.com

And these are just the latest announcements and actions on MasterCard’s part in helping us all to advance to a world beyond cash.  Yes, a world beyond cash, it’s happening everywhere..just take a look at recent news, whether it’s about mobile payments, countries like Sweden and Italy promoting cashless societies, or governments like the U.S. retiring the paper check or Canada eliminating the penny.  And if that wasn’t enough, our recent study shows how American consumers are using less cash today than 10 years ago.

On Thursday, May 10 we’re continuing the dialogue and hosting a Cashless Conversation with our employees and some very special guests, and we want you to join us!  Send us your comments and questions below, follow the #CashlessConvo on Twitter, and join us on @MasterCardNews for a special Twitter café from 10:45 a.m. – 11:00 a.m. (eastern).  Here’s our line-up:

 Thursday, May 10^th Cashless Conversation hosted by MasterCard

• 9:15am (eastern) panel discussion (follow live tweets via #CashlessConvo) moderated by Carlos Menendez, Group Executive, Global Debit, MasterCard, and featuring:

Ann Cairns and Gary Flood, MasterCard

David Wolman, Author, The End of Money

Dr. Benjamin Mazzotta, Postdoctoral Research Fellow for Inclusive Growth at the Center for Emerging Market Enterprises, The Fletcher School at Tufts University, who is studying the Cost of Cash

Cashless Pioneers from around the world (including Walt Henderson of the U.S. Treasury and Magnus Nilsson from iZettle in Sweden)

• 10:45am (eastern): Open up the Twitter café via #CashlessConvo for a live interactive twitter discussion with our executives and special guests.

In the days following the event, be on the look out for more as we’ll be sure to share some video snippets of the panel discussion for you to review.

We’re looking forward to the conversation!

Italy is a beautiful and ancient place, and I’ve always been awestruck by the ancestral relationship that we’ve had with coins. In Rome, the city where I live, I often visit the ancient ruins of “Mercati di Traiano”, the old roman market square.  So many trades and businesses began there, and it’s fascinating to think about its history and the importance of the ancient coins and their impact on commerce overall.

But on the other side of the coin..so to speak, Italy is also a country full of old habits, among which there is the old way to pay.  Which got me thinking and led to the development of the “No Cash Day” project, an initiative I hope will help transform our country’s old commerce habits and allow us to benefit from the value of electronic commerce. But in order to do so, I quickly realized that we had to change our perspective about cash.

Why not mention the negative aspects of coins and banknotes?

Why not examine the reasons why Italians are so in love with the “old” cash?

I believe that promoting a life beyond cash should not only be a target for payment companies, but also for governments because less cash means less corruption, less tax evasion, and less crime. I am proud to say that Italy’s Government and Ministry of Economic Development is now sponsoring our initiative!

Last June, we challenged bloggers to live a week without using cash and to find a way to live a normal life, whether they lived in a big city or in the province. The diaries they produced have been incredible, and I will never forget the post of the blogger that won the contest – he managed to buy a slice of melon in the street of a small town using only his credit card!

Now we are working on the second edition of NoCashDay, and I hope that it will become an international opportunity to understand that we must assume a responsible use of cash.

We have not yet confirmed where the debate will take place, but I think it would be really interesting to find a way to facilitate the discussion from the old roman market, with the precise objective to bury the old coins inside an open air museum.

Time passes by, and so our habits do, and what hope remains is only the beauty of our historical past, and continued drive to become more modern…

To stay in touch here our links:

https://www.NoCashDay.org

Facebook

Twitter

 To tweet this news, copy and paste http://bit.ly/Iy6s7u  to your Twitter handle with the hashtag #MasterCard, #UAE, #Mobile, and #Shopping

Dubai, 26 April 2012: Online shopping is growing increasingly popular in the UAE, according to the results of a recent MasterCard survey. Results of MasterCard’s survey on online shopping behavior revealed that 42% of UAE shoppers accessed the internet for online shopping in 2011; up from 33% in 2010. The survey also found that shopping via mobile phones is increasing, with 15% of consumers surveyed planning to do so in the coming months.

The survey found the greatest proportion of online spend is occurring on airline sites, with 78% of UAE respondents preferring to purchase tickets online rather than at traditional outlets. Other leading categories are apps (76%), coupon/deal sites (68%) and music download sites (64%).

On average, 33% of respondents who visit retailer websites when online shopping indicated that they visit luxury or high-end goods sites. The survey also found that the most popular online purchasing website for UAE  respondents is Emirates Airlines (10%), followed by Cobone (8%)[1].

Raghu Malhotra, division president, Middle East & North Africa, MasterCard Worldwide said: “The UAE is undoubtedly the retail hub for the Middle East and it is not surprising that the country has one of the fastest rates of adoption when it comes to innovative trends such as online and mobile shopping. It is encouraging to note that UAE consumers are increasingly looking to shop online in order to capitalize on the efficiency, safety and convenience of online shopping channels.”

Attitude Towards Online Shopping

In terms of attitudes towards online shopping, 65% of respondents indicated that they prefer a hotline for enquiries when shopping online. Additionally, 62% of consumers who shop online said that they tend to read online reviews of products before purchasing, and 62% of consumers who shop online said that they tend to go to the same sites when they have used them before. However, 43% of consumers in the UAE still do not feel secure shopping online.

Amongst the top factors impacting online shopping, respondents chose price/value of the items (85%), secure payment facility offered by site (85%), convenient payment methods (82%), reputation of the website (81%) and website being user-friendly (79%).

In addition, 79% of consumers plan in advance about products or services they will shop for before going online. Consumers’ research is mostly done through general internet browsing (67%), exploring merchant websites (58%) and talking to friends or family members (43%).

Other Key Findings:

• Cross-border Shopping: The survey also found that respondents spend 32% of their time on foreign retailers’ websites. Respondents are most likely to purchase airline tickets (26%) and clothing/accessories (11%) from these foreign websites. In contrast, the main barriers to cross-border shopping were consumers’ perceptions that products are available locally (48%), buying locally is more convenient (45%) and that buying locally is cheaper (45%).

• Mobile Shopping: In terms of mobile shopping trends, the survey indicates strong potential for growth in the UAE, as 12% of individuals surveyed made purchases through their mobile phones in recent months. Apps (36%), cinema (24%) and airline (23%) were the top three categories purchased by consumers in the UAE through their mobile phones. Among those who did not purchase through their mobile phones recently, an additional 15% of respondents are likely to do so in the coming months.

• Ethical Spending: The MasterCard survey also explored the reasons and channels for “responsible” purchasing. It found that approximately 50% of individuals purchased items in the last 2-3 years because of one or more ethical reasons, like products based on fair trade principals or if products are environmentally friendly. Approximately 35% of individuals who purchased items because of ethical reasons did so online.

The survey was conducted from 05 December 2011 to 06 January 2012 and reached 12,500 consumers from 25 markets[2] across APMEA. The survey and its accompanying reports do not represent MasterCard financial performance.

NOTE TO EDITORS: More information and previously released MasterCard survey results can be found at www.masterintelligence.com.

Index on Online Shopping

The MasterCard Index on Online Shopping targeted 500 respondents, aged 18-64 years old, per market. All respondents were part of the banked population, access the internet at least once a week and are representative in terms of age and gender of the online population in that market.

The survey was conducted online between 5 December 2011 and 6 January 2012 in 25 countries, including: Australia, China, Hong Kong, Japan, U.A.E., Korea, India, Singapore, Thailand, South Africa, Malaysia, New Zealand, Taiwan, Philippines, Indonesia, Qatar, Vietnam, KSA, Egypt, Morocco, Oman, Kuwait, Lebanon, Nigeria and Kenya.

Please note that there is no 2010 data available for Vietnam, KSA, Egypt, Morocco, Oman, Kuwait, Lebanon, Nigeria and Kenya, as they were not part of the 2010 study. Please also note that there is no 2009 data available for Indonesia and Qatar, as they were not part of the 2009 study.

The 2011 report included new sections – Shopping Through the Smart Phone; Cross-border Shopping and Ethical Spending.

MasterCard and its Suite of Research Properties Asia/Pacific, Middle East & Africa

The MasterCard Worldwide Index suite in Asia/Pacific, Middle East and Africa includes the long-running MasterCard Worldwide Index of Consumer Confidence, as well as the MasterCard Worldwide Index of Women’s Advancement, Online Shopping, Index of Financial Literacy, and the Index of Global Destination Cities. In addition to the Indices, MasterCard’s research properties also include a range of consumer surveys including Ethical Spending and a series on Consumer Purchasing Priorities (covering Travel, Dining & Entertainment, Education, Money Management, Luxury and General Shopping).

MasterCard also regularly releases Insights reports providing analysis of business dynamics, financial policies and regulatory activities in the Asia/Pacific, Middle East and Africa region. Over 80 Insights reports have been produced since 2004.
MasterCard has also released a series of four books on Asian consumer insights, authored by Dr. Yuwa Hedrick-Wong, Global Economic Advisor for MasterCard Worldwide and published by John Wiley & Sons.

About MasterCard

MasterCard (NYSE: MA) is a global payments and technology company.  It operates the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard’s products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Learn more at www.mastercard.com, follow us on Twitter @MasterCardNews or join the conversation on Cashless Conversations Blog.

# # #

Contacts:

Nadia Ejaz; GolinHarris – Dubai; Tel:  +971 4 3323308; Email: nejaz@golinharris.com

Jandré Nieuwoudt; GolinHarris – Dubai; Tel:  +971 4 3323308;  Email: jnieuwoudt@golinharris.com

“As Australia’s largest leading technology and entertainment retailer we’re obsessed about a great customer experience and the payments piece is an important part of this experience. The future of retailing is about a harmonious experience both in-store and online, and with the PayPass Wallet Services we feel we’ll be able to provide innovative payment solutions to our customers to deliver on this.”

Richard Murray, CFO, JB Hi-Fi

“As a retailer, most third-party services we analyze force us to make a trade-off. We gain some small piece of functionality in exchange for a slightly compromised customer experience. PayPass Online is different. This product facilitates sales without becoming a middleman in the transaction. We receive full ownership of our customer data and the money flows through our merchant account as usual. That means our PayPass Online orders enjoy our negotiated processing fees and require no special processing.”

Andrew Hoefener, COO, RunningShoes.com

“As a quintessential small business operating in today’s tough marketplace environment, UniformsAndScrubs.com is always looking for ways to add value to our customers and differentiate ourselves from the competition.  PayPass is a great solution that meets these goals by giving our customers a secure and efficient method for payment that makes the transaction, particularly in the mobile environment, a much easier way to buy online.  By pioneering this solution, it puts us at the forefront of ecommerce providers in our industry, and hopefully in the forefront of our customers’ minds when they need to buy scrubs.”

Michael G. McGrath, Owner, UniformsAndScrubs.com

“I’m ecstatic to be chosen as a Beta Merchant for PayPass because it means providing my customers with additional confidence and convenience with their online purchase. Especially since we cater to many tech savvy customers, offering PayPass is our way of utilizing technology to stay ahead of our competitors. As a small business owner, I naturally gravitate to PayPass since MasterCard does not act as a middleman.  Instead, it offers a convenient service I’d recommend without reservation.”

Kristen Wentrcek CEO, WINTERCHECK FACTORY®

Financial Institutions

“PayPass Wallet is an ideal solution for EURO 6000 because it allows us to offer a digital wallet for our own customers at the same time it enables global acceptance and simplifies their experience as user.”

Agustin Marquez, CEO of EURO6000

“We are excited to offer our customers PayPass Wallet, providing a simple and secure way to pay. Additionally, PayPass Wallet provides us with a flexible platform that can scale as consumers and merchants adopt mobile proximity payments.”

Jon Groch, Director of Bankcard Strategy and Innovation, Fifth Third Bank

“We understand the strategic importance of achieving true convergence in acceptance, security and simplicity across channels including the digital ones. MasterCard’s PayPass Wallet will help all the industry make real progress towards attaining that goal in the shortest timeframe possible.”

Maria Lorenzo, Director Card Payments, Grupo Banco Popular

“At BBVA Group, we aim to deliver customer experience tailored to meet their needs, and customers require an easy and convenient way to operate anytime, anywhere. PayPass Wallet is an example of a solution that adds value in this line.”

Grupo BBVA

“ICBA Bancard is excited to work with MasterCard Worldwide on the launch and implementation of PayPass Wallet Services, a transformational digital payments product – which we believe will enhance the product and cardholder experience for all of our community banks clients.”

Joe Shallow, Executive Vice President, ICBA Bancard

“Today’s PayPass Wallet Services launch puts payment power in the hands of consumers. Metro Bank is dedicated to excellent customer service and consumer choice, and welcomes this industry innovation.”

Aisling Kane, Chief Operations Officer, Metro Bank

“PSCU is excited to be the first in the credit union marketplace to test MasterCard’s PayPass Wallet Services. We are committed to embracing new payments technologies so we can deliver bold and innovative services to our member-owner credit unions to help them attract and retain members and expand revenue.”

Michael Kelly, President and CEO, PSCU 

“RBS Citizens Financial Group is excited to be one of the first banks to provide customers with the expanded convenience and payment options made possible through PayPass Wallet Services. This partnership with MasterCard is an example of our commitment to make it easy for Citizens Bank and Charter One customers to manage their finances when, where and how they want.”

Geoffrey Thomas, Executive Vice President and Head of Everyday Banking, RBS Citizens Financial Group

Technology Partners

“Apriva is very pleased to work with MasterCard in developing its PayPass Wallet Services, which provides a compelling framework for facilitating mobile commerce among merchants, financial services providers and consumers. Flexibility, scalability and choice will be increasingly important for all stakeholders who are looking to leverage the inherent benefits of mobile commerce. MasterCard PayPass Wallet Services creates a ubiquitous environment that will support all facets of the M-commerce ecosystem even as technologies and consumer preferences continue to evolve.”

Paul Coppinger, President, Apriva

“Providing the best payment experience for the world’s leading mobile app stores and content providers is at the core of our business. Our support for PayPass Wallet Services will enable our wide range of digital merchants to enable mobile users to quickly and easily pay from their mobile device.”

Ray Anderson, CEO, Bango

“CardinalCommerce is committed to enabling our merchant customers’ seamless support to a myriad of secure payment methods through a single connection to our platform. PayPass Wallet Services is an exciting innovation that will provide value to our merchants by allowing their customers an easier and more secure way to pay. Through this partnership we will be making PayPass Online immediately available to our merchant network and plan to enable thousands of merchants over the coming months.”

Tim Sherwin, Co-Founder and EVP of Strategic Alliances for CardinalCommerce 

“Consumers today require more convenient, personalized and seamless shopping and banking experiences. By delivering PayPass Wallet Services as part of our Digital River World Payments solution, we will be able to offer merchants not only more payment choices, but also a secure and streamlined process, regardless of the consumer’s wallet preference.”

Souheil Badran, Senior Vice President and General Manager, Digital River World Payments

“We’re continually looking for ways to help our customers deliver superior mobile experiences to their end consumers.  MasterCard’s flexible approach allows us to deliver a digital platform that integrates with our existing programs and ultimately improves the mobile shopping experience for consumers.”

Robin Kearon, VP Channels & Alliances, Kony Solutions, Inc.

“We built our network on the belief that consumers want a full range of options when they shop, and tools to get the job done efficiently.  With PayPass, our partners can give consumers the freedom to choose how they want to pay, and check out quickly and easily when they do.”

Dan Hess, CEO, Local Offer Network

“Ogone is dedicated to making it easier for the consumer to pay online and for the retailer to be paid. PayPass Wallet Services is a payment wallet solution designed to simplify the shopping experience while providing flexibility and choice to consumers and merchants. It was therefore an obvious decision for us to partner with MasterCard to offer PayPass Wallet Services as part of our unrivalled portfolio of payment solutions.”

Marcus W. Mosen, Chief Commercial Officer, Ogone Payment Services

“A wallet on your smartphone promises convenience and security at a new level. Within just a few years the traditional wallet in developed economies will be a thing of the past. I’m delighted that PayPass will enable 40,000 Sage Pay merchants to offer their customers more choice of how to pay online, and over time, in store through contactless, for the fast growing number of consumers with NFC-enabled devices.”

Simon Black, CEO, Sage Pay

“The launch of the PayPass Wallet Services strengthens the partnership between Mastercard and SIA allowing us to offer a new wallet service to the leading financial institutions in our markets. Our solution is foreseen to be fully integrated with PayPass Wallet Services, leveraging the wide PayPass acceptance network. Furthermore, the possibility to use the same wallet for SIA digital payment services, from mobile top-up, P2P money transfer, e-commerce and proximity mobile payments, will boost the convergence of the different customer experiences in a safe, easy and quick way”.

Nicola Cordone, Deputy Managing Director, SIA

NEW ORLEANS, May 7, 2012 /PRNewswire/ — CTIA BOOTH # 6135 – MasterCard (NYSE:MA) today announced PayPass Wallet Services, a new global offering for banks, merchants and partners that will make it faster and easier for their customers to make purchases in stores or online by allowing them to securely pay with a simple click of the mouse, touch of the tablet screen or tap of the smartphone.

To view the multimedia assets associated with this release, please click: http://www.multivu.com/mnr/55963-mastercard-simplifies-shopping-with-launch-of-paypass-wallet-services

(Photo: http://photos.prnewswire.com/prnh/20120507/MM01703 )

PayPass Wallet Services delivers three distinct components — PayPass Acceptance Network (PayPass Online and PayPass Contactless), PayPass Wallet and PayPass API. These services enable a consistent shopping experience no matter where and how consumers shop, as well as a suite of digital wallet services, and developer tools to make it easier to connect other wallets into the PayPass Online acceptance network.

American Airlines and Barnes & Noble will be among the first merchant partners to incorporate the PayPass Online checkout button on their websites, and American will integrate PayPass Wallet into its mobile application.

“Consumers are looking to pay for goods when, how and where they choose. Merchants want flexibility to easily accept digital payments so they can convert more browsers to buyers both online and in store,” said Ed McLaughlin, chief emerging payments officer, MasterCard. “We realize that when it comes to payments, no single wallet will rule them all. PayPass Wallet Services simplifies the shopping experience while providing flexibility and choice to merchants, banks and consumers.”

PayPass Wallet Services includes:

• PayPass Acceptance Network (PayPass Online and PayPass Contactless) – Provides a globally consistent way to help merchants accept electronic payments across multiple channels whether the purchase is made in a store at the point of sale with Near Field Communication (NFC) technology or online using a computer, tablet or smartphone.  PayPass Online also provides consumers with a simple check-out process by eliminating the need to enter detailed shipping and card information with every purchase.
• PayPass Wallet – A full suite of digital wallet solutions enabling banks, merchants and partners to white label their own wallets. It makes online shopping safe and easy by allowing consumers to store payment and shipping information in one, convenient and secure place. The wallet is open, which means that consumers can use American Express, Discover, Visa and other branded credit, debit and prepaid cards.
• PayPass API – Allows partners to connect their own digital wallets into the PayPass Acceptance Network, leveraging MasterCard’s check-out, fraud detection and authentication services and enabling their customers to make purchases wherever PayPass is accepted – online and in store.

MasterCard will make PayPass Wallet Services available to partners in the third quarter of 2012, initially in the U.S., Canada, U.K. and Australia and, subsequently, will include other countries. PayPass Wallet Services will be expanded to the point of sale over time to create an end-to-end shopping experience for consumers providing additional value-added services such as: at-a-glance account information before making a purchase; spending controls and alerts received in real time; and delivery of targeted offers, coupons and enhanced loyalty programs.

“At American Airlines, we’re passionate about giving our customers more flexibility and functionality on their mobile devices,” said Richard Elieson, managing director, Interactive Marketing at American Airlines. ”By integrating PayPass into our mobile app, payment transactions become fast and easy and provide the security you would expect from a brand like MasterCard.”

“Consumers are at a pivotal point now where smartphone adoption has exploded and well over 50 percent of Americans now own one,” said Marc Parrish, vice president of retention and loyalty marketing for Barnes & Noble.com. “The technology that will allow customers to make mobile payments at the point of sale has already begun to make a difference, and Barnes & Noble is proud to be leading retail in this technology shift.”

Leading merchant, financial institutions and technology partners that are working with MasterCard to support the launch of PayPass Wallet Services include:

• Financial institutions: Banesto, Bank of Montreal, Commonwealth Bank, Citibank, EURO6000, Fifth Third Bank, Grupo Banco Popular, Grupo BBVA, ICBA, Intesa Sanpaolo, Metro Bank, National Bank of Canada, PSCU, RBS Citizens Financial Group, SEB Kort AB Sweden, Sovereign Bank, Swedbank Sweden and Westpac.
• Merchants: American Airlines, Barnes & Noble, Jagex, JB Hi-Fi, MLB Advanced Media (MLB.com), Newegg, Runningshoes.com, TigerDirect.com and Wine Enthusiast Companies.
• Technology partners: Apriva, Bango, Beanstream, CardinalCommerce, C-SAM, Digital River, Intel, Kony Solutions, Inc., Local Offer Network, mFoundry, Moneris Solutions, Ogone Payment Services, Sage Pay, SIA and Vantiv.

At 8:30 a.m. EDT (7:30 a.m. CDT) tomorrow, Tuesday, May 8, MasterCard will host a conference call for the investment community with Ed McLaughlin, MasterCard’s chief emerging payments officer, to discuss this announcement.  The dial-in information for this call is 866-202-4683 (within the U.S.) and 617-213-8846 (outside the U.S.) and the passcode is 26280608.  A replay of the call will be available for one week thereafter.  The replay can be accessed by dialing 888-286-8010 (within the U.S.) and 617-801-6888 (outside the U.S.) and using passcode 50876454.

The live call and the replay, along with supporting materials, can also be accessed through the Investor Relations section of the company’s website at www.mastercard.com.

About MasterCard Worldwide

MasterCard (NYSE: MA), www.mastercard.com, is a global payments and technology company. It operates the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard’s products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MasterCardNews, join the discussion on the Cashless Conversations Blog and subscribe for the latest news.

About American Airlines

American Airlines, American Eagle and the AmericanConnection® carrier serve 260 airports in more than 50 countries and territories with, on average, more than 3,500 daily flights. The combined network fleet numbers more than 900 aircraft. American’s award-winning website, AA.com®, provides users with easy access to check and book fares, plus personalized news, information and travel offers. American Airlines is a founding member of the oneworld® alliance, which brings together some of the best and biggest names in the airline business, enabling them to offer their customers more services and benefits than any airline can provide on its own. Together, its members and members-elect serve more than 900 destinations with more than 9,000 daily flights to 150 countries and territories. American Airlines, Inc. and American Eagle Airlines, Inc. are subsidiaries of AMR Corporation. AmericanAirlines, American Eagle, AmericanConnection, AA.com, and AAdvantage are trademarks of American Airlines, Inc. AMR Corporation common stock trades under the symbol “AAMRQ” on the OTCQB marketplace, operated by OTC Markets Group.

About Barnes & Noble, Inc.

Barnes & Noble, Inc. (NYSE:BKS), the world’s largest bookseller and a Fortune 500 company, operates 691 bookstores in 50 states. Barnes & Noble College Booksellers, LLC, a wholly-owned subsidiary of Barnes & Noble, also operates 641 college bookstores serving over 4.6 million students and faculty members at colleges and universities across the United States.  Barnes & Noble conducts its online business through BN.com (www.bn.com), one of the Web’s largest e-commerce sites, which also features more than two million titles in its NOOK Bookstore™ (www.bn.com/ebooks). Through Barnes & Noble’s NOOK™ eReading product offering, customers can buy and read digital books and content on the widest range of platforms, including NOOK devices, partner company products, and the most popular mobile and computing devices using free NOOK software. Barnes & Noble is proud to be named a J.D. Power and Associated 2012 Customer Service Champion and is only one of 50 U.S. companies so named.

Forward-Looking Statements

Statements in this press release which are not historical facts, including statements about MasterCard’s plans, strategies, beliefs and expectations, are forward-looking and subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.  Forward-looking statements speak only as of the date they are made.  Accordingly, except for the company’s ongoing obligations under the U.S. federal securities laws, the company does not intend to update or otherwise revise the forward-looking information to reflect actual results of operations, changes in financial condition, changes in estimates, expectations or assumptions, changes in general economic or industry conditions or other circumstances arising and/or existing since the preparation of this press release or to reflect the occurrence of any unanticipated events. Such forward-looking statements include, without limitation:

• The company’s ability to make PayPass Wallet Services available beginning in the third quarter of 2012, including in each of the U.S., Canada, the U.K., Australia and additional jurisdictions thereafter; and
• The company’s ability to expand PayPass Wallet Services over time to create an end-to-end shopping experience by providing additional value-added services.
• The company’s ability to work with various merchants, financial institutions and technology partners to support the launch of PayPass Wallet Services.

Actual results may differ materially from such forward-looking statements for a number of reasons, including those set forth in the company’s filings with the Securities and Exchange Commission (SEC), including the company’s Annual Report on Form 10-K for the year ended December 31, 2011, the company’s Quarterly Reports on Form 10-Q and Current Reports on Form 8-K that have been filed with the SEC during 2012, as well as reasons including difficulties, delays or the inability of the company to achieve its strategic initiatives set forth above.  Factors other than those listed above could also cause the company’s results to differ materially from expected results.

Media Contacts

Media Relations: Brian Gendron, 914-249-1284, brian_gendron@mastercard.com

Investor Relations: Greg Boosin, 914-249-4565, investor_relations@mastercard.com

SOURCE MasterCard