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London, UK, Tuesday 10 April 2012MasterCard today announced a new partnership with The Prince’s Trust to help tackle youth unemployment across London and the South East through entrepreneurship. MasterCard’s support will help The Prince’s Trust to transform the lives of young people, enabling them to make a positive contribution to the local economy by equipping them with the skills to improve their future prospects.

As the latest Patron supporter of the youth charity, MasterCard will provide funding in the 2012-2013 financial year to support up to 94 young people through The Prince’s Trust’s innovative Enterprise Programme, while the company’s employees will actively participate in volunteering and fundraising activities.

The Enterprise Programme enables young people aged 18-30 who are interested in self employment to test their business ideas, or identify whether self employment is the right choice for them.  Depending on the outcome, they can receive the support and, where needed, the financial assistance to start a business, or help in achieving a different goal in employment or training.

Marion King, President of MasterCard UK & Ireland, said:

“We’re delighted to be working with such a prestigious charity in the UK. The Prince’s Trust’s Enterprise Programme aligns perfectly with our global drive to improve financial inclusion through entrepreneurship and we hope our support can help secure sustainable livelihoods for the young people taking part this year. We’re also getting behind this as an organisation by creating a number of exciting volunteering and fundraising opportunities for our employees.”

Laura Wyatt-Smith, National Head of the Enterprise Programme at The Prince’s Trust, said:

“The Prince’s Trust is extremely grateful to be working with MasterCard. At a time when youth unemployment has reached record highs, their support will enable The Trust to work with some of the most disadvantaged young people across London and the South East to help create the next generation of entrepreneurs.”

During 2010-2011 financial year, The Trust helped more than 5,576 young people through the Enterprise Programme, with over 800 based in London and the South East. More than three quarters of them successfully moved into training, education, employment or self employment.

MasterCard’s philanthropic efforts are focused on furthering financial inclusion through entrepreneurship. Supporting entrepreneurship helps individuals overcome barriers to financial inclusion and ultimately achieve positive economic outcomes for themselves, their families and their communities. Through MasterCard’s core competencies, technology, people and charitable giving, the company helps make a difference to people’s lives around the world.

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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 conversation on The Heart of Commerce Blog and subscribe for the latest news.

About The Prince’s Trust

The Prince’s Trust helps change young lives in the UK through practical and financial support, developing skills as well as confidence and motivation.  Since the charity was founded by HRH The Prince of Wales in 1976, it has helped over 650,000 young people across the UK and continues to support 100 more every working day. More than three in four young people helped by The Prince’s Trust move into work or training. Further information about The Prince’s Trust is available by calling 0800 842 842 or at www.princes-trust.org.uk.

For further information, please contact:

Doyel Maitra, Communications, MasterCard UK & Ireland

Tel: +44 (0)7912 579087, doyel_maitra@mastercard.com