Accepting the award on behalf of MasterCard, Toni Merschen, Group Head, Chip, MasterCard Worldwide, said: “Contactless payments have a major role to play in the replacement of cash in global commerce. We are delighted to accept the Frost & Sullivan Company of the Year Award as recognition of our market leadership and innovative approach in this area, through our MasterCard PayPass solution. „“Following the successful rollout of MasterCard PayPass in the US, we are delighted to have launched contactless payment initiatives in 2006 with The Royal Bank of Scotland in the UK and Garanti Bank in Turkey .Yesterday we announced our involvement in an m-commerce pilot in France, driven by the EMV OneSmart PayPass contactless application.““ As of Q2 2006, there are nearly 10 million PayPass cards and devices in the market and approximately 32,000 merchant locations around the world that accept PayPass. Interest in PayPass has not been limited to retail establishments. The technology has proved popular in sports facilities, and PayPass is now accepted in many Major League Baseball and National Football League stadiums, as well as at numerous golf events. louise_herbert@mastercard.com www.mastercard.com