[For Immediate Release]

MasterCard Pioneers Innovation in Payments with
NFC–Enabled Mobile Phones

MasterCard® PayPass™- enabled “TAP & GOTM” Payments via Mobile Phones

14 April 2007, Hong Kong - MasterCard Worldwide, the Hong Kong Retail Technology Industry Association and the Hong Kong Wireless Technology Industry Association are proud to showcase the innovative Near Field Communications (NFC)-enabled mobile phone with MasterCard® PayPass™ capability. There are a number of MasterCard PayPass-related programs currently under way in fourteen countries around the world.

While Mobile devices with NFC are only beginning to reach the marketplace, they are predicted to become common in the future. “The NFC-capable phone with MasterCard PayPass is set to become the future standard in the payment industry because of its unrivaled convenience and ease of usage. As of 4Q2006, there are nearly 13 million PayPass cards and devices issued globally,” said Danny Cheung, vice president and business manager, Greater China, MasterCard Worldwide. “MasterCard PayPass offers a convenient alternative to cash that allows for smaller transactions to be completed more quickly, securely and easily than ever before”.
MasterCard PayPass is a “contactless” payment program that provides consumers with a fast and convenient way to pay. PayPass users simply need to tap their PayPass enabled phone, card, or device on the PayPass reader and the transaction is complete.

By leveraging Near Field Communication (NFC), card data can be downloaded over the air at the request of the cardholder to enable the NFC mobile phone for a PayPass transaction. The card or phone never has to leave the hands of the consumer to be swiped by the merchant, and PayPass provides consumers with zero liability for unauthorized transactions, just like all MasterCard payment programs.

NFC offers added benefits for merchants and marketers, allowing more options for interactivity with consumers. For example, imagine being able to use your phone for purchasing movie tickets, or scanning it by a “Smart Poster” to receive digital content, such as ring tones, video clips, or getting a special deal on a hot new product “over the air” that may be redeemed at the shop. What’s more, MasterCard PayPass is not limited to mobile phones or actual cards, for it can be utilized in the form of keychains, watches and many other pocket items. The possibilities are infinite for adding convenience and subtracting hassle from the transactions of today’s busy consumers.

“MasterCard has long believed that the mobile phone represents a ubiquitous payment device, largely because consumers continue to grow more comfortable using them for a range of activities beyond making and receiving calls, “ Danny continued. “We are excited to team up with industry leaders such as RTIA, WTIA, ViVOtech and Nokia to develop this forthcoming trend in Hong Kong.”

RTIA and WTIA provides trading and technology platforms respectively within the industry to accelerate and aid industry development and growth. ViVOtech provided NFC payment, over-the-air (OTA) and “Smart Poster” software and services to make possible the well-coordinated trial with the partners.

MasterCard PayPass speeds up the checkout process and reduces the need for cash, taking a lot of the hassle out of shopping. It is ideal for traditionally cash-dominated environments where speed is essential, such as fast-food restaurants, drive-through outlets, convenience stores, movie theaters, pharmacies, vending machines, and toll roads. By the end of 2006, there were already over 46,000 merchants across the world accepting PayPass. With markets including Taiwan and other parts of Asia. During trials in the U.S., MasterCard PayPass saved between 12 and 18 seconds from the average purchase times at drive-through outlets compared to cash.

This innovative new payment method will not only reduce the need for cash, but may also spell the end of paper coupons. Considering all its features and potential for innovative forms of marketing, NFC-enabled devices with MasterCard PayPass capability will no doubt elevate to even greater levels and expand to become an indispensable component of every consumer’s pocket.

Win the Mobile Way
To demonstrate its capabilities, MasterCard is offering the “Win the Mobile Way” game during the entire span of this year’s ICT Expo. To participate, visitors can visit the MasterCard NFC Experience booth no. 5G14, 5H13, 5H15 and grab the latest MasterCard PayPass NFC-enabled phone for a personalized demonstration. Visitors can practice how to “TAP & GOTM“ at all of 10 checkpoints to earn up to $50 mobile money, and the total sum can be used to redeem merchandise at the MasterCard Gift Shop at the booth upon returning the phone, in addition to two free cups of coffee at Buyer’s Lounge, the coffee shop inside the exhibition hall.

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 over 16 billion transactions each year, and provides industry-leading analysis and consulting services to financial institution customers and merchants. 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 http://www.mastercard.com.

Contacts:

Helen Lo, Weber Shandwick for MasterCard Worldwide
(852) 2533 9955, helo@webershandwick.com

Terence Yam, Weber Shandwick for MasterCard Worldwide
(852) 2533 9900, tyam@webershandwick.com