MasterCard Joins Forces with Smart Hub, Inc.

Joint Venture Will Accelerate the Delivery of Mobile Payments in Developing Markets

PURCHASE, N.Y.--(BUSINESS WIRE)--MasterCard Worldwide and Smart Hub, Inc., a subsidiary of Smart Communications Inc., the biggest Mobile Network Operator (MNO) in the Philippines, today announced a joint venture to mobilize MasterCard payment solutions for consumers around the world. The partnership brings together Smart Hub Inc.’s tested mobile payments platform and telecom experience and MasterCard’s global brand, resilient network and electronic payments legacy in order to establish an optimal mobile payments infrastructure for the world’s developing economies.

“By combining our assets with MasterCard’s powerful network and brand, we will add strategic value to the mobile payments value chain and help catalyze growth around the world.”

The joint venture between MasterCard and Smart Hub Inc. will leverage the intersection of mobile telecommunications and electronic payments to meet the needs of the expanding mobile payments marketplace and grow their businesses. It will build upon their introduction of the MasterCard Mobile Payments Gateway, an open mobile payment processing platform designed to facilitate MasterCard Mobile Payment Solutions in developing markets, with the first launch scheduled in Brazil with Itaú Unibanco and Redecard, along with mobile network operator Vivo in Brazil.

“Our longstanding commitment to facilitating the development of the global mobile payments marketplace makes the joint venture with Smart Hub Inc. an exciting opportunity for MasterCard to speed up the execution of our mobile payments strategy in developing economies,” said Joshua Peirez, Head of Innovative Platforms, MasterCard Worldwide. “By deepening our relationship, we will empower the one billion mobile phone users without bank accounts around the world¹ by providing a link to the MasterCard Worldwide Network—the global electronic infrastructure facilitating global commerce.”

“We are excited for MasterCard to leverage on Smart’s proven mobile payment technology and experience in delivering mobile financial services to un-banked consumers in emerging markets,” said Danilo J. Mojica, President, Smart Hub Inc. “By combining our assets with MasterCard’s powerful network and brand, we will add strategic value to the mobile payments value chain and help catalyze growth around the world.”

By bolstering the framework for mobile payments in developing economies, MasterCard and Smart Hub Inc. are meeting a societal need in transforming financial services for billions of consumers who have long been excluded from the traditional financial system. With mobile payments, both banked and unbanked mobile consumers will gain access to a wide range of MasterCard Mobile payments solutions that provide greater payment convenience and security over cash—using their mobile phone to make purchases, send and receive money between family and friends, transfer funds between accounts, pay bills, deposit funds such as payroll or social benefits, top up mobile airtime, load value to prepaid accounts, get cash from ATMs, and keep track of their balances and activities with mobile alerts.

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 approximately 22.44 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.

About Smart Communications, Inc.

Smart Communications, Inc. (SMART) is the Philippines' leading wireless services provider with 43.2 million subscribers on its GSM network as of end - March 2010. SMART has built a reputation for innovation, having introduced world-first wireless data services, including mobile commerce services such as Smart Money, Smart Load and Smart Padala. SMART also offers 3G and HSPA services. Its Smart Link service provides communications to the global maritime industry. Smart Broadband, Inc., a wholly-owned subsidiary, offers a wireless broadband service, Smart BRO. SMART is a wholly-owned subsidiary of the Philippines' leading telecommunications carrier, the Philippine Long Distance Telephone Company (PLDT). For more information, visitwww.smart.com.ph.

¹ GSMA, 2009.

Contacts

MasterCard Worldwide

Erica Harvill, 914-249-6848

erica_harvill@mastercard.com

or

Smart Communications, Inc.

Ramon Isberto, 632 5113101

RRIsberto@smart.com.ph

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