MasterCard Worldwide to Strengthen Global Economic Connections with MoneySend Platform

MasterCard Worldwide to Strengthen Global Economic Connections with MoneySend
Platform
MasterCard® MoneySend(TM) to Make Money Transfers Simpler and Easier for Banks
and Cardholders Worldwide

PURCHASE, N.Y., Nov. 17 /PRNewswire-FirstCall/ -- MasterCard Worldwide today
announced that starting in 2010, MasterCard customer financial institutions
will have the capability to offer MasterCard cardholders money transfers from
any MasterCard or Maestro card to any other MasterCard or Maestro card. The
global card-to-card money transfer service will expand the usability and value
of MasterCard products and global payments network by providing its customers
with a convenient and cost-effective money transfer platform enabling
person-to-person payments and cross-border remittances.

For the over 197 million foreign workers worldwide(1) who are sending their
pay packets home to their families, MasterCard MoneySend will help banks
fulfill the market need for a money transfer platform that gives cardholders
control over their money. The platform will support cardholder remittance
payments enabling cardholders to send money that is quickly accessible to the
recipient.

"We are focused on developing convenient and secure solutions for the
day-to-day financial realities of consumers around the world," said Joshua
Peirez, Group Executive, Innovative Platforms, MasterCard Worldwide. "As the
flow of money between global workers and their families continues to grow,
MasterCardMoneySend provides a valuable, convenient and reliable money
transfer option for consumers."

Peirez added, "That we now offer a better alternative for sending and
receiving person-to-person payments is a significant expansion of the
functionality of our network. It will help our customers capture greater
global remittance processing share."

By offering a money transfer option that addresses concerns about the cost,
quality and reliability of available money transfer platforms, MasterCard is
delivering a viable solution to financial institutions. The MasterCard
Worldwide Network provides the infrastructure enabling all transactions to be
processed through cardholders' issuing banks and the MasterCard global payment
network. This will give banks access to the $456 billion(2) global remittance
opportunity while fostering deeper relationships with their cardholders. Asia
Pacific, the Middle East and Africa comprise over 46% of the world's
remittance volumes(3).

"MasterCardMoneySend removes barriers impeding the transfer of money around
the world and provides the global economy with a robust infrastructure that
supports growth in international transfers as consumers continue to remit
funds globally," said Walt Macnee, President, International Markets,
MasterCard Worldwide. "This platform, built on the strength of the MasterCard
Worldwide Network, is a clear example of MasterCard delivering upon its
mission to advance global commerce by giving banks and cardholders access to
secure and convenient money transfers."

MasterCard MoneySend Enables Functional, Reliable Global Money Transfer

The MasterCard MoneySend platform offers the network infrastructure for the
development of a robust global marketplace enabling value, convenience and
reliability for global money transfer. Currently, MasterCardMoneySend
supports money transfer services in 17 countries. The global availability of
the MoneySend card-to-card money transfer service will build upon these
ongoing initiatives utilizing the key insights, including consumer attitudes
and needs and partner integration and interoperability, learned in these
markets to deliver the best possible solutions to all financial institution
customers globally.

New and existing MasterCard financial institutions can participate and offer
the money transfer platform to their MasterCard cardholders through their
online banking websites. The MoneySend platform offers participating customer
financial institutions real-time authorization resulting in faster
disbursement of funds.

MasterCard MoneySend Momentum

-- In 2009, MasterCard goes live with fully-integrated, on-demand
person-to-person mobile payment platform for issuers in the United
States. With the new platform, MasterCard participating bank
customers
in the United States are able to offer Mobile MasterCard MoneySend P2P
payments to their customers.

-- In 2008, Punjab National Bank in association with MasterCard
introduced
MasterCard MoneySend, enabling money transfers from MasterCard or
Maestro accounts held at Punjab National Bank to any MasterCard or
Maestro account at participating banks across India.

-- In 2008, DBS Bank Ltd (DBS) and MasterCard launched MasterCard
MoneySend, enabling DBS customers to make remittances to participating
banks in Indonesia, Malaysia, Philippines, Thailand and India.

-- In 2007, MasterCard Worldwide along with State Bank of India (SBI)
announced the launch of MasterCard MoneySend, allowing consumers to
conveniently send intra-country person-to-person money transfers using
the ATM channel.

About MasterCard Worldwide
MasterCard Worldwide advances global commerce by providing a critical economic
link among financial institutions, businesses, cardholders and merchants
worldwide. As a franchisor, processor and advisor, MasterCard develops and
markets payment solutions, processes approximately 21 billion transactions
each year, and provides industry-leading analysis and consulting services to
financial-institution customers and merchants. Powered by the MasterCard
Worldwide Network and through its family of brands, including MasterCard®,
Maestro® and Cirrus®, MasterCard serves consumers and businesses in more than
210 countries and territories. For more information go to www.mastercard.com.

(1) World Bank (2005)
(2) The Aite Group, projected estimate by 2010 in USD (March 2007)
(3) World Bank (2005)

Contacts: Erica Harvill, MasterCard Worldwide
Erica_harvill@mastercard.com, 914-249-6848

Kaitlin Jaxheimer, Weber Shandwick Worldwide
kjaxheimer@webershandwick.com, 212-445-8261

SOURCE MasterCard Worldwide

Erica Harvill, MasterCard Worldwide, Erica_harvill@mastercard.com,
+1-914-249-6848, or Kaitlin Jaxheimer, Weber Shandwick Worldwide,
kjaxheimer@webershandwick.com, +1-212-445-8261