The MasterCard global survey conducted in 13 countries showed that a growing majority of consumers worldwide believe that one day there will be a cashless society – globally consumers agree that they do not like to carry large amounts of cash and their behaviors, such as unwillingness to wait in line for more than ten minutes for small purchases, are driving growth in cashless payments. Findings from the survey include: • A majority of respondents (56%) believe that one day the world will be a cashless society where credit and debit cards will replace cash and checks for payments • 75% of respondents believe that it is no longer necessary to have lots of cash on hand • Two-thirds of respondents (66%) use cash less often than five years ago to make purchases • Only one-fifth (21%) of consumers are willing to wait in line for more than 10-minutes to make a purchase of less than $25 • About half of respondents (49%) are likely to use a contactless card if provided by their financial institution • 47% of those likely to use a contactless card cite convenience as the greatest benefit of the technology • Aside from convenience, global consumers like the additional security, speed and ease of contactless technology • Women are the most motivated to use contactless payments in order to avoid carrying cash „“This significant milestone for MasterCard exemplifies how we are changing the way that people pay,““ said Art Kranzley, Group Executive, Advanced Payments at MasterCard Worldwide. „“By leading a new wave of payment innovation that is displacing cash while creating a more efficient system of global commerce, MasterCard is making transactions faster, easier, and more secure for consumers, merchants and financial institutions that is also advancing commerce worldwide.““ As of November 2007, there are over 20 million PayPass cards and devices in the market and over 80,000 merchant locations around the world that accept PayPass. There are numerous PayPass-related programs currently underway in 20 countries around the world. PayPass rollouts and trials have been announced in the Australia, Canada, China, France, Indonesia, Italy, Japan, Korea, Lebanon, Malaysia, Mexico, the Philippines, Spain, Switzerland, Taiwan, Thailand, Turkey, the United Arab Emirates, the United Kingdom and the United States. bharth@webershandwick.com www.mastercard.com/paypass