Secure and Reliable MasterCard Prepaid Solutions Continue to Drive
Sector's Innovation and Success
PURCHASE, N.Y., and ZURICH, Switzerland, Dec. 18 /PRNewswire-FirstCall/ --
MasterCard Worldwide today announced that Swiss Bankers Prepaid Services Ltd.
will become the first financial institution to take advantage of the global
prepaid transaction processing capabilities of MasterCard Integrated
Processing Solutions (IPS), the debit and prepaid processing platform
introduced earlier this year.
(Logo: http://www.newscom.com/cgi-bin/prnh/20061031/MCLOGO )
MasterCard IPS delivers a world-class processing infrastructure with
scalability, reliability and security, as well as flexible and rich
functionality. The IPS platform also delivers operational efficiencies through
integrated exception and fraud management automation tools.
"MasterCard IPS provides a great platform that will enable us to continue
to grow our business and provide cardholders with safe and convenient access
to funds anywhere in the world," said
Thomas Beck
, Managing Director, Swiss
Bankers Prepaid Services Ltd. "Our Travel Cash Maestro card is used in more
than 120 countries in multiple currencies where every transaction must be
processed flawlessly. This platform gives us and our cardholders the
confidence when making purchases with a MasterCard-branded product while
traveling abroad. It also gives us the flexibility to offer them additional
services, while making our internal processes more efficient," added Beck.
Through a single connection, MasterCard IPS seamlessly integrates
market-proven software into the MasterCard Worldwide network, enabling
financial institutions to expand their portfolios across business channels
with minimal infrastructure investment and quick and efficient administration.
Swiss Bankers Prepaid Services is the second financial institution to
implement MasterCard IPS after Security Service Federal Credit Union, the 10th
largest credit union in the United States with more than $4.6 billion in
assets. MasterCard now provides Security Service FCU with brand-exclusive
debit network solutions and issuer processing in the United States.
"Through our complete service offering -- from the functionality of our
product platform to the reliability and security offered by IPS -- our
financial institution customers can access a broad range of differentiated
solutions to maximize efficiencies and drive their businesses forward," said
Gary Flood
, President, Products & Services, MasterCard Worldwide. "MasterCard
IPS provides a critical advantage to our customers around the world by
enabling them to take advantage of the tremendous opportunities that debit and
prepaid offer."
MasterCard continues to drive the shift toward electronic payments and
enable financial institutions to leverage opportunities around the world by
offering product solutions, advisory services and world-class payment
transaction processing. Prepaid is now one of the fastest-growing payment card
categories with more than $680 billion in global volume expected by 2015,
according to a 2008 Boston Consulting Group study commissioned by MasterCard.
"MasterCard is focused on leveraging the strength of our global network,
processing capabilities, strong partnerships and product development platform
to drive business results for our issuers and partners around the world," said
Bruno Baugnies, Senior Vice President, Global Technology and Operations,
MasterCard Europe. "We are pleased to work with Swiss Bankers to implement the
first prepaid solution with IPS. This agreement builds on our strong
partnership with Swiss Bankers and underscores our commitment to deliver the
full suite of products and services our customers need to succeed."
The first global prepaid agreement for IPS continues the advances
MasterCard has made in the prepaid sector. As a global leader in prepaid,
MasterCard develops innovative product propositions that capitalize on
opportunities to create a competitive advantage. In 2008, MasterCard continued
to deliver solutions for a broad range of industries around the world with a
focus on public sector, corporate and consumer reloadable programs.
MasterCard IPS this year was named to the "InfoWorld 100," an honor given
by InfoWorld's editorial staff honoring the 100 companies that make the best
use of technology to enhance their business. The awards acknowledge
information technology projects that use technology in smart, innovative and
creative ways to meet business and technical objectives.
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 more than 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(R), Maestro(R) and Cirrus(R), MasterCard
serves consumers and businesses in more than 210 countries and territories.
For more information go to www.mastercard.com
About Swiss Bankers Prepaid Services, Ltd.
Swiss Bankers Travelers Cheque Center was founded in 1975 by a number of
banks. Today, the successful company has a new legal entity. The former
ordinary partnership has been dissolved to make room for a joint stock company
known as Swiss Bankers Prepaid Services Ltd. Under the new company name, the
business is to further develop its strong market position in the area of
prepaid modes of payment.
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 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 ability of MasterCard IPS to enable financial institutions to
expand their portfolios across business channels with minimal
infrastructure investment and quick and efficient administration;
-- the ability of MasterCard IPS to allow financial institution customers
access to a broad range of differentiated solutions to maximize
efficiencies and drive their businesses forward;
-- prepaid remaining one of the fastest-growing payment card categories;
-- the ability to leverage the strength of MasterCard's global network,
processing capabilities, strong partnerships and product development
platform to drive business results for issuers and partners around the
world; and
-- the ability for MasterCard to continue to be a global leader in
prepaid by developing innovative product solutions.
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 Securities and Exchange Commission (SEC), including the company's
Annual Report on Form 10-K for the year ended December 31, 2007, the Company's
Quarterly Reports on Form 10-Q and Current Reports on Form 8-K 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.
SOURCE MasterCard Worldwide
CONTACT: Naya Larsson, MasterCard Worldwide, +1-914-249-3916,
naya_larsson@mastercard.com; or Bernhard Mors, MasterCard Europe,
+32-498-58-50-57, bernhard_mors@mastercard.com/