MasterCard and MobileWay Team Up to Develop Authentication Service for Mobile Commerce

Business Wire, Feb 20, 2001

Business/Technology Editors

PURCHASE, N.Y.--(BUSINESS WIRE)--Feb. 20, 2001

MasterCard International today announced an alliance with MobileWay(TM), a leading provider of global wireless access and content distribution over mobile telephones, to develop and market an authentication scheme that will verify cardholders to merchants and confirm transactions using their wireless devices.

MasterCard and MobileWay also intend to collaborate on development projects to ensure interoperability between MasterCard's electronic payment systems and MobileWay's global data network hub and plan to develop next-generation m-commerce technologies that will benefit MasterCard's member financial institutions, wireless network operators and merchants.

The alliance also includes cooperation on a number of key initiatives with the intent to leverage MasterCard's global payment system and MobileWay's global network by building upon the efforts of the Global Mobile Commerce Interoperability Group (GMCIG), of which both companies are key members.

"Mobile commerce needs to be supported by a secure and robust messaging network," said Art Kranzley, senior vice president, Global e-Business, MasterCard International. "Working with MobileWay, MasterCard intends to deliver m-commerce solutions that will enable mobile operators to provide value added services while boosting cardholder and merchant confidence in the payments portion of m-commerce."

"MasterCard brings its expertise in secure payments, and is a trusted brand for consumers and merchants all over the world," said Patrice Peyret, CEO of MobileWay. "Our alliance will enable both the financial institutions and the merchants to reach the ever-growing community of mobile phone users in a seamless way, regardless of the wireless network technology in use."

MobileWay's alliance with MasterCard will result in a new m-commerce payment solutions scheme for MasterCard's more than 20,000 member financial institutions. Both companies also will benefit from the respective experience and leadership of the other - MobileWay with its wide range of data services, which can be customized and branded on demand, and MasterCard as the most widely-accepted electronic payment brand in the world and a catalyst for the development of m-commerce solutions.

MobileWay and MasterCard International intend to showcase m-commerce demonstrations in the MobileWay booth (#B12 in Hall 2) at GSM World Congress in Cannes, February 20-24.

About the GMCIG

The Global Mobile Commerce Interoperability Group (GMCIG) was formed in June 2000, as an evolution of MasterCard's and Europay's leadership in the area of wireless payment models. The GMCIG offers participants a global and open organization to develop and promote secure wireless payment standards. The organization seeks contributions from all players in the marketplace including network operators, device manufacturers, mobile technology and content providers, financial institutions, and other global payment associations. For additional information, please visit www.gmcig.org.

About MobileWay

MobileWay, Inc., is a leading provider of global wireless access and content distribution via wireless devices. The company's network hub and value-added wireless services are designed to enable network operators and eBusinesses to bring exciting, customized, user-authorized and secure services to mobile consumers. MobileWay, Inc., offers wireless data services that include text messages, chat, ring tones, and m-commerce solutions; and service data such as copyright reports, click-rate reports, phone software updates, and user validation cryptograms. These make it possible for consumers to experience personalized content; connect with communal affinity groups; and securely conduct m-commerce transactions anywhere, anytime from their wireless devices. The result is an innovative way for network operators and eBusinesses to rapidly and seamlessly bring to market new forms of wireless interactivity and revenue-generating services. A North American company with operational headquarters in Paris, France, MobileWay, Inc., has offices located throughout Europe, Asia and the United States. The company can be reached on the Web at www.mobileway.com.

About MasterCard International

MasterCard International has the most comprehensive portfolio of payment brands in the world. More than 1 billion MasterCard(R), Cirrus(R) and Maestro(R) logos are present on credit, charge and debit cards in circulation today. An association comprised of more than 20,000 member financial institutions, MasterCard serves consumers and businesses, both large and small, in 210 countries and territories. MasterCard is the leader in quality and innovation, offering a wide range of payment solutions in the virtual and traditional worlds. With more than 19 million acceptance locations, no card is accepted in more places and by more merchants than the MasterCard Card. In 1999, gross dollar volume exceeded US$725 billion. MasterCard can be reached through its World Wide Web site at http://www.mastercard.com.