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  • MasterCard enters into agreement to acquire Provus - the leading independent Turkish payment solutions provi...

MasterCard enters into agreement to acquire Provus - the leading independent Turkish payment solutions provider

Acquisition will strengthen MasterCard's processing capabilities and ability to offer value-added services in the region.
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Business Wire via ITWeb,
Purchase, New York, 10 Oct 2013

MasterCard (NYSE: MA) today announced it has entered into an agreement to acquire Provus Bilisim Hizmetleri A.S. (Provus), Turkey's leading independent payment solution and processing provider. The acquisition will build on MasterCard's strategy of increasing its processing presence in high-growth markets and deliver superior processing solutions and innovative, value-added services for both financial institutions and customers in the emerging prepaid and mobile payments space. This transaction, which is subject to regulatory approval, is anticipated to close in the fourth quarter of 2013.

Founded in 2001 and headquartered in Istanbul, Provus' customer base includes financial institutions, telecommunication service providers and retailers. Provus' payments solutions business includes issuer and acquirer processing, prepaid solutions and ATM processing services.

Commenting on the acquisition, Javier Perez, President, MasterCard Europe, said: "The acquisition of Provus enables MasterCard to continue developing innovative solutions to add value to our customers, and increases our processing presence in Europe. Turkey continues to be a very exciting and growing market and this acquisition provides an important platform that will enable us to not only serve customers locally but also to continue to deliver innovative payment solutions across the region."

Tunc Dasar, CEO, Provus, said: "Today's announcement represents an exciting new chapter for our business, which has been delivering cutting-edge payment solutions and processing services for both traditional and non-traditional customers in Turkey. We look forward to the future as part of the MasterCard family and are focused on delivering innovation in payment solutions and processing to the widest possible audience."

Terms of the deal were not disclosed.

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MasterCard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. It operates the world's fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard's products and solutions make everyday commerce activities - such as shopping, travelling, running a business and managing finances - easier, more secure and more efficient for everyone. Follow MasterCard on Twitter @MasterCardNews, join the discussion on the Cashless Pioneers Blog, and subscribe for the latest news on the Engagement Bureau.

Forward-looking statements

Statements in this press release that 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 dates they are made. Accordingly, except for the company's ongoing obligations under the US 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 financial condition, changes in estimates, expectations or assumptions, changes in general economic or industry conditions 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, statements related to the Company's ability to:
*get the regulatory approval to allow closing the transaction in the fourth quarter of 2013; and

*continue to grow its processing presence in Europe, serve customers locally and deliver innovative payment solutions across the region.

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 31 December 2012, the company's Quarterly Reports on Form 10-Q and Current Reports on Form 8-K that have been filed with the SEC during 2013, 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.

View this news release online at: http://www.businesswire.com/news/home/20131009006018/en

Rose Beaumont
Senior Vice-President
(+3) 22 352 5235
rose_beaumont@mastercard.com

Selin Semigolu
Communications Manager
(+90) 212 351 9900
selin_semigolu@mastercard.com

Barbara Gasper
Executive Vice-President
(+1) 914 249 4565
investor_relations@mastercard.com