MasterCard Wins ”Most Significant Implementation” Award for PayPass; MasterCard’s Art Kranzley Presented with ”Visionary of the Year” Award

SAN FRANCISCO–At the CardTech/SecurTech industry conference in San Francisco, MasterCard International was presented with two 2006 Breakthrough Awards from Card Technology magazine. MasterCard was presented with the “Most Significant Implementation” award for its MasterCard PayPass contactless payment program. In addition, Art Kranzley, executive vice president, Advanced Payments, MasterCard International, was also presented with Card Technology’s “Visionary of the Year” award, in recognition of his success in forwarding the understanding and use of advanced payment technology.

MasterCard PayPass provides consumers with a fast and convenient alternative to cash for their everyday small purchases. Consumers simply tap their PayPass-enabled card or device on a specially equipped merchant terminal, eliminating the need to fumble for cash and coins, hand their card over to a clerk or swipe the card. Signatures are not required for PayPass purchases under $25, further speeding transaction times. PayPass is ideal for quick payment environments where speed is essential, such as quick serve restaurants, gas stations, drug stores, vending machines, movie theaters, transit and sports facilities.

“The Card Technology 2006 Breakthrough Awards recognize the leading technologies and individual achievements of 2005,” said Donald Davis, chief editor of Card Technology magazine. “Card Technology magazine is pleased to honor MasterCard for its pioneering role and continued leadership in the global rollout of contactless payment technology.”

To date, approximately seven million PayPass cards and devices have been issued to consumers and PayPass is now accepted at approximately 30,000 merchant locations around the world. There are a number of PayPass-related programs currently underway in ten countries around the world. PayPass rollouts and trials have been announced in the United States, Canada, United Kingdom, Japan, Korea, Lebanon, Malaysia, Australia, Taiwan, and the Philippines, with many more programs and rollouts anticipated throughout 2006.

“We are honored to accept these Card Technology Breakthrough Awards on behalf of the many visionaries at MasterCard, and its partners, whose efforts have helped make contactless payments a reality for millions of consumers worldwide,” said Kranzley. “Contactless payment technology benefits all parties in the payment transaction. It helps consumers make faster and more convenient transactions; it helps merchants deliver better service to more customers; and it gives issuers an opportunity to reach merchant sectors that were traditionally dominated by cash.”

For more information about MasterCard PayPass, visit www.mastercard.com/paypass.