Chockstone Works with MasterCard International to Expand and Enable PayPass Solution

PORTLAND, Ore.--(BUSINESS WIRE)--June 26, 2006--Chockstone, Inc., provider of the world's most innovative stored value, customer loyalty and payment processing solutions, announced today that its technology will be enabled to support the MasterCard(R) PayPass(TM) contactless payment solution. PayPass provides consumers with a quicker and more convenient way to pay for purchases, provides merchants with shorter transaction times and delivers enhanced sales on purchases. Chockstone's point-of-sale solutions, credit card gateway, and stored value programs will be enabled to support PayPass at participating merchants, particularly quick service restaurants and convenience stores.

MasterCard PayPass offers a convenient alternative to paying with cash by allowing consumers to make purchases by simply tapping their PayPass-enabled MasterCard card or other device (such as a cell phone or key fob) on a PayPass enabled point-of-sale terminal. A signature is not required for purchases under US $25. An embedded RF tag automatically and securely transfers account information and the sale is completed without the need for signature authorization. As the technology speeds consumers through the check-out process, merchants can experience the benefits of reduced cash handling, improved efficiency and competitive differentiation.

“Chockstone works closely with the leading brands in the retail industry that can benefit from the innovation of PayPass into the customer experience”

"Chockstone works closely with the leading brands in the retail industry that can benefit from the innovation of PayPass into the customer experience," said T.J. Sharkey, vice president, US Business Development, MasterCard International. "One of our primary goals is to provide innovative payment solutions that enhance the relationship between consumers and merchant locations where they make purchases as well as generate a more profitable way for merchants to do business."

PayPass will work seamlessly with Chockstone's market-leading payment processing and stored value programs. Chockstone provides innovative payment and loyalty solutions that deliver promotional offers tailored for each customer at the point-of-sale. Chockstone's technology will enable merchants to provide instantaneous rewards to PayPass users by automatically recognizing the payment method at check-out and delivering redeemable, merchant-designated promotions via their transaction receipt.

"Companies like MasterCard are defining the payment processing industry, and if other market leaders don't adapt, they and their clients will be left behind the curve," said Chockstone Vice President, Professional Services Marc Edmondson. "We are thrilled to enable our clients to be on the forefront of what's certain to be the new paradigm in small-ticket purchasing."

Chockstone clients can enjoy the benefits of MasterCard PayPass beginning in the third quarter of 2006. Participating Chockstone merchants will be able to accept all PayPass transactions, as well as their own RF-enabled stored value and loyalty cards.

About Chockstone

Chockstone provides the most flexible and innovative stored value solutions available to merchants today. Designed to increase customer loyalty and drive profitability, Chockstone's programs are used by leading brands in the retail, restaurant, and convenience store markets. Headquartered in Portland, Ore., Chockstone, Inc. is a privately held corporation. To learn more about Chockstone's products and services, visit www.chockstone.com.

About MasterCard International

MasterCard International (NYSE:MA) advances global commerce by providing a critical link among financial institutions and millions of businesses, cardholders and merchants worldwide. Through the company's roles as a franchisor, processor and advisor, MasterCard develops and markets secure, convenient and rewarding payment solutions, seamlessly processes more than 16 billion payments each year, and provides industry-leading analysis and consulting services that drive business growth for its banking customers and merchants. With more than one billion cards issued through its family of brands, including MasterCard(R), Maestro(R) and Cirrus(R), MasterCard serves consumers and businesses in more than 210 countries and territories, and is a partner to 25,000 of the world's leading financial institutions. With more than 24 million acceptance locations worldwide, no payment card is more widely accepted than MasterCard. For more information, go to www.mastercardinternational.com.