MasterCard and Telefónica Reach Multi-Year Regional Credit Co-brand Agreement

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Marcus Molina MasterCard Worldwide 305-539-2320

Janet Rivera-Hernández MasterCard Worldwide 305-539-2304

MasterCard and Telefónica Reach Multi-Year Regional Credit Co-brand Agreement

Partnership spans 11 countries in Latin America

Miami and Madrid, August 02, 2010 - MasterCard Worldwide and Telefónica, world- leading payment and telecommunications companies respectively, reached a multi-year credit co-brand agreement targeting Telefónica’s mobile phone customers. As part of the deal, MasterCard and Movistar, a Telefónica brand, will issue co-branded credit cards in 11 countries across Latin America including: Argentina, Colombia, Ecuador, El Salvador, Guatemala, Mexico, Nicaragua, Panama, Peru, Uruguay and Venezuela.

In addition, MasterCard will process the Movistar-MasterCard co-brand card transactions in the majority of the aforementioned markets. The Movistar-MasterCard co-branded cards are expected to provide Movistar customers with a number of benefits for using their cards. Benefits include, but are not limited to, discounts at Movistar and the ability to accumulate points that can be exchanged for phone equipment or additional airtime.

“The launch of co-branded credit cards reinforce Telefónica’s customer development and loyalty strategy,” said Luis Miguel Gilperez, Director of Mobile Business, Telefónica Latin America. “MasterCard is an excellent partner for this program - its expertise, combined with the strong presence of both companies in the region is the perfect recipe for success.”

“We are pleased to partner with the leading telecommunications company in Latin America," said Richard Hartzell, President, MasterCard Latin America and Caribbean region. “Telefónica’s selection of MasterCard in this important program, demonstrates our strength in the payments industry and ability to offer high quality products, industry leading insights and unmatched processing capabilities.”

“This new agreement will allow us to offer millions of Telefónica subscribers in the Region, including those who are currently unbanked, access to financial products that are secure, convenient and flexible,” commented Noel Lustig, Head of Commerce Development, MasterCard Latin America and Caribbean region.

This is not the first time MasterCard has partnered with Telefónica. The two players currently have co-brand programs in Chile and Brazil.

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 22 billion transactions each year, and provides industry-leading analysis and consulting services to financial-institution customers and merchants. Powered by the MasterCard Worldwide Network and 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.mastercard.com. Follow us on Twitter: @mastercardnews.