PR - MasterCard Europe and Europay France to Integrate Operations

MasterCard Europe and Europay France today announced an agreement to integrate their operating structures in France, a priority market for MasterCard in Europe. The integration will support French banks’ efforts to provide competitive payment services. Under the terms of the agreement, a new company is to be formed. Additional terms of the agreement have not been disclosed.

The transaction is expected to be completed on April 1, 2008 and will enable French and international banks in France to benefit from a direct relationship with MasterCard Europe for payment services. The two businesses have a history of combining their strengths, with MasterCard International and Europay International having merged their pan-European activities in 2002. Under that agreement, Europay France has acted as a liaison between MasterCard Worldwide and financial institutions in France.

MasterCard Europe has also announced the appointment of Emmanuel Petit as General Manager of the newly-created company. Mr. Petit will be responsible from today for leading the integration process, before assuming the role of General Manager on April 1, 2008. Mr. Petit, who joined MasterCard in 2002, currently leads MasterCard’s relationship with a key banking client in Europe. Mr. Petit will report to Alfredo Gangotena.

Mr. Petit will work closely during the integration process with Mr. Herve Kergoat, currently Country Manager for MasterCard Europe in France. Mr. Kergoat will, from April 1, 2008 assume new responsibilities as head of Business Development, Special Projects.

The agreement is particularly timely given the establishment of SEPA, the Single Euro(pean) Payments Area, the financial infrastructure which will demand that cross-border payment instruments are made available in all Eurozone markets, in addition to national ones.

MasterCard is fully equipped to provide SEPA compliant solutions which will enable banks not only in France, but throughout Europe, to compete effectively both at a domestic and international level. The influence of SEPA has already directly impacted the French domestic market by allowing the issuance of co-branded cards in France since October 2007.

The French market has long been a leader in innovation for the payments sector. French banks were amongst the first to embrace Chip technology, which has played a major role in increasing card payment security in France. November 2007 also marked the French launch of Europe’s first MasterCard® PayPass(TM) contactless payments trial involving co-branded cards. MasterCard is the worldwide leader in contactless payments, with 20 million PayPass cards and devices and 80,000 merchant acceptance locations in 20 countries.