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Australia, 23 January 2008 - Australian businesses now have access to greater security, convenience and control of their spending, with the launch of the Westpac Business Debit MasterCard card.

As the first debit MasterCard card programme for businesses in Australia, this card is set to take the place of cheques in cashless business transactions, making payments quicker, more secure and convenient.

The Westpac Business Debit MasterCard card will now be available for Westpac business accounts. Businesses will still have the option of a Handycard or cheque book.

Leigh Clapham, executive vice president, Australasia, MasterCard Worldwide, said the launch of this new product will be particularly beneficial for Australian small and medium-sized enterprises (SMEs) and growing businesses.

"Australian SMEs, which need to keep a watchful eye on their spending, can reconcile every transaction back to the individual cardholder. Business owners can also have multiple additional cardholders at no additional cost," said Clapham.

The introduction of debit products tailored for businesses is good news for SMEs and other businesses alike, making a wider range of options for managing payments available and ensuring access to products that will support the growth of a business.

"MasterCard is committed to delivering payment products that contribute to the business operator in a positive way – providing the resources and tools for more secure, convenient and responsible spending," said Clapham.

"Westpac Business Debit MasterCard cardholders also have the added convenience of using their card at over 25 million acceptance locations worldwide, including over the phone and internet, wherever MasterCard is accepted. Cardholders will also have access to MasterCard Global Service, an emergency customer service where they can report or replace lost or stolen cards, anywhere, anytime – a service that is perfect for business travellers on the road," added Clapham.

According to Westpac’s Peter Hanlon, business financial services group executive, “We believe the Westpac Business Debit MasterCard card has the potential to change the way small businesses transact, in particular replacing cash and cheques.

"Small and medium-sized businesses tell us that the major issues they face are managing cash flow and the drag that the associated red tape and administrative tasks have on their time. We believe that our new debit card will make business easier for them by reducing their reliance on debt and helping them to manage cash flow."

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 Worldwide serves consumers and businesses in more than 210 countries and territories. For more information go to www.mastercard.com.

Melissa Devine, 02 9818 0950, mdevine@ppr.com.au
Michael Pooley, 02 9818 9310, mpooley@ppr.com.au