|MasterCard Completes Acquisition of Travelex's Prepaid Card Program Management Assets|
Deal Enhances MasterCard's Global Prepaid Business
PURCHASE, N.Y., Apr 15, 2011 (BUSINESS WIRE) -- MasterCard Incorporated (NYSE:MA) announced today that it has completed its acquisition of the prepaid Card Program Management (CPM) operations of Travelex, at the terms previously announced.
The acquisition of Travelex's CPM operations furthers MasterCard's strategic business goals and strengthens the company's suite of global prepaid business assets. It will allow MasterCard to play a greater role in the prepaid value chain supporting issuers and partners, especially outside of the United States and in the attractive cross-border payments space.
Statements in this press release which are not historical facts, including MasterCard's expectations regarding CPM's capabilities and growth prospects, 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 U.S. federal securities laws, the company does not intend to update or otherwise revise the forward-looking information. In addition, actual results may differ materially from such forward-looking statements for a number of reasons related more broadly to MasterCard's overall business, 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, 2010 and the company's Current Reports on Form 8-K that have been filed with the SEC during 2011. Factors other than those listed above could also cause the company's results to differ materially from expected results.
About MasterCard Incorporated
As a leading global payments company, MasterCard Incorporated prides itself on being at the heart of commerce, helping to make life easier and more efficient for everyone, everywhere. MasterCard serves as a franchisor, processor and advisor to the payments industry, and makes commerce happen by providing a critical economic link among financial institutions, governments, businesses, merchants, and cardholders worldwide. In 2010, $2.7 trillion in gross dollar volume was generated on its products by consumers around the world. Powered by the MasterCard Worldwide Network - the fastest payment processing network in the world - MasterCard processes over 23 billion transactions each year and has the capacity to handle 160 million transactions per hour, with an average network response time of 130 milliseconds and with 99.99 percent reliability. MasterCard advances global commerce through its family of brands, including MasterCard(R), Maestro(R), and Cirrus(R); its suite of core products such as credit, debit, and prepaid; and its innovative platforms and functionalities, such as MasterCard PayPass(TM) and MasterCard inControl(R). MasterCard serves consumers, governments, and businesses in more than 210 countries and territories. For more information, please visit us at www.mastercard.com.
SOURCE: MasterCard Incorporated