| Contacts |
| Sharon Gamsin MasterCard Worldwide 914-249-5622 |
MasterCard Statement on Interchange Cap on Gasoline Sales
Purchase, NY, June 26, 2008 -
MasterCard heard gasoline dealers’ concerns about fees on rapidly rising gasoline prices and responded. MasterCard has given relief at the gas pump by capping interchange fees on fuel purchases. MasterCard’s cap on interchange fees, which has been in effect since April 2007, applies to MasterCard consumer credit and debit fuel transactions of about $50 or more. In addition to the opportunity to lower fees that this cap creates, gasoline merchants receive tremendous value by accepting MasterCard, through increased sales, greater security and convenience, lower labor costs, and speed for their customers at the pump. Consumers will continue to benefit from purchases that are faster and more convenient when they use their MasterCard cards at the pump.
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 www.mastercardworldwide.com.
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 www.mastercardworldwide.com.