MasterCard Canada Press Section

Press Releases

MasterCard Sees Enhanced Opportunities in a Dual Environment

TORONTO, November 17, 2008 – MasterCard applauds Canada’s Commissioner of Competition for her determination that duality of credit card issuing and acquiring in Canada is competitively appropriate. Prior to the announcement, the Competition Bureau had favoured non-duality, which did not allow financial institutions to issue or acquire competing card brands.

According to industry statistics, MasterCard has enjoyed the highest increase in purchase volume, card growth, and number of transactions, making MasterCard the fastest growing payments brand in Canada – in a field that includes Interac (Canada’s only debit brand), American Express, and Visa – over the past three years. A dual market will allow MasterCard to build on this trend by providing greater opportunities through access to new issuers and cardholders. Duality will also simplify the Canadian acquiring landscape and will make Canada a more attractive market for MasterCard to expand acceptance and introduce innovation at the point of sale.

“MasterCard owes much of its success in Canada to its strong partnerships with its long-standing financial institution customers,” Kevin Stanton, President, MasterCard Canada, said. “Together, MasterCard and its customers have continually leveraged MasterCard’s brand, technology, and acceptance strength to deliver innovative and high-quality programs to cardholders and merchants. MasterCard’s unique customer focus will be an even greater asset in a dual environment, where MasterCard’s unsurpassed ability to deliver relevant, results-driven, and customized solutions will be a key differentiator and success driver.”

The move to duality will allow improved competition and innovation in Canadian payments for consumers, businesses, and merchants as more financial institutions and their customers gain access to leading-edge technology from MasterCard, such as PayPass™ contactless payments, mobile payments, Multi Card® corporate payments, enhanced e-commerce payments, and an industry-leading global technology platform.

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 18 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


Jennifer Reed
MasterCard Canada

Forward Looking Statements

Statements in this press release which are not historical facts, including statements about MasterCard’s plans, strategies, beliefs and expectations, are forward looking and subject to the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Forward looking statements speak only as of the date they are made. Accordingly, except for the company’s ongoing obligations under the United States federal securities laws, the company does not intend to update or otherwise revise the forward looking information to reflect actual results of operations, changes in general economic or industry conditions, changes in financial condition, changes in estimates, expectations or assumptions or other circumstances arising and/or existing since the preparation of this press release or to reflect the occurrence of any unanticipated events. Such forward looking statements include, without limitation:

• the company’s ability to continue to enjoy the highest increase in purchase volume, card growth, and number of transactions in the industry;

• the company’s ability to gain access to new issuers and cardholders as a result of the Canadian Commissioner of Competition’s decision on duality;

• the company’s ability to expand acceptance and introduce innovation at the point of sale;

• the company’s ability to continue to deliver relevant, results-driven, and customized solutions as a key differentiator and success driver; and

• the company’s ability to provide financial institutions and their customers access to leading-edge technology.

Actual results may differ materially from such forward looking statements for a number of reasons, including those set forth in the company’s filings with the United States Securities and Exchange Commission (SEC), including the company’s Annual Report on Form 10K for the year ended December 31, 2007, the Company’s Quarterly Reports on Form 10Q and Current Reports on Form 8K that have been filed with the SEC during 2008, as well as reasons including difficulties, delays or the inability of the company to achieve its strategic initiatives set forth above. Factors other than those listed above could also cause the company’s results to differ materially from expected results.