Press Office

Auckland, 28 February 2007-MasterCard Worldwide today celebrated the official opening of its first office in New Zealand.

"The increasing size and sophistication of the New Zealand payments market was instrumental in our decision to establish our new office and as a means of further developing our excellent relationships with our customer financial institutions in the country," said Leigh Clapham, executive vice president, Australasia, MasterCard Worldwide.

"MasterCard is constantly innovating, and having a physical presence in New Zealand will enable us to work more closely with our customers to develop MasterCard products appropriate for this market," said Clapham.

Stuart McKinlay has been appointed as the first New Zealand-based country manager for MasterCard. Formerly based in Sydney as vice president, Business Development, MasterCard Worldwide, McKinlay has worked for MasterCard for more than five years and during this time focused on developing relationships with major banks across both sides of the Tasman. He will be supported by former advertising executive Peter Moore, who has been working as consultant to MasterCard in New Zealand for the past year.

"New Zealanders are particularly financially aware and see the benefits of using payment cards of all types as part of their day-to-day lives," said McKinlay. "MasterCard is a brand that many New Zealanders have come to rely on as a result of its convenience and value for both overseas travel and daily purchases."

MasterCard has been a sponsor of the All Blacks since 2003. He said that having a stronger local presence will enhance MasterCard’s commitment to the team.

MasterCard's office is located on Pakenham St in Auckland's Viaduct precinct.

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 MasterCard7reg;, Maestro® and Cirrus®, MasterCard Worldwide serves consumers and businesses in more than 210 countries and territories. For more information go to www.mastercardworldwide.com.