IN POLAND, MASS TRANSIT GETS A LIFT FROM MASTERCARD PAYPASS

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1 IN POLAND, MASS TRANSIT GETS A LIFT FROM MASTERCARD PAYPASS GROWTH IN PAYPASS USAGE FOR TRANSIT IN WARSAW AND WROCLAW 190% IS NEARLY TWICE THAT FOR OVERALL PAYPASS GROWTH IN POLAND. 1 EXECUTIVE SUMMARY Background In just a few years, Poland has become one of the top contactless markets in the European Union. By 2Q2011, Poland ranked as Europe s third-largest PayPass market, based on the number of acceptance locations The fourth-largest PayPass market in Europe, based on the number of cards issued 2 With mass transit the fastest-growing area for contactless-enabled payment cards and devices worldwide, Warsaw and Wroclaw took the initiative to leverage contactless technology to the benefit of both their transit systems and their riders. Objectives Polish transit authorities wished to enhance rider convenience and speed of entry, improve operational efficiency and control, and promote greater use of the mass transit system. Payment card issuers seek to accelerate consumer acceptance and usage of contactless-enabled payment cards and to attract new customers with innovative contactless transit solutions. Solution Warsaw and Wroclaw, in partnership with Mennica, 3 introduced transit solutions that feature contactless capability on mobile ticketing terminals, an innovation enabling on-board ticket purchases without cash for the first time in Poland, and on stationary ticketvending machines. In both cities, Citi Handlowy introduced a PayPassenabled Debit MasterCard hybrid card the first in Poland that integrates both global payment capability and the local Mifare transit ticketing application. Results In 2Q2011, PayPass transactions for transit in Warsaw and Wroclaw increased by 190% over 1Q2011, the first full quarter after launch, nearly double the growth rate for total PayPass transactions in Poland. Preliminary results indicate that the total number of rides taken on Wroclaw buses and trams has increased, which may lead to increased fare collections. 4 Citi Handlowy reports it issued over 16,000 MasterCard PayPass hybrid cards, and 70% of these cardholders were new customers. AUGUST 2011

2 Background MasterCard PayPass contactless payments were first piloted in Poland in late By early 2010, Poland was on target to become one of the top contactless markets in the European Union, with contactless transactions expected to accelerate significantly. 5 By 2Q2011, Poland had become the fourth-largest PayPass market in Europe, based on the number of cards issued, and Europe s third-largest PayPass market, based on the number of acceptance locations. 6 (For more information on PayPass in Poland, see The Contactless Revolution, MasterCard case study, September 2010.) Shortly after the Poland PayPass launch, the MasterCard team in Poland began to focus on transit as a key enabler of this innovative technology. Contactless payments are a natural fit with public transportation, making mass transit a fast-growing area for contactless-enabled payment cards and devices worldwide. In Poland, hundreds of thousands of consumers use public transportation daily, riding buses, trams, and subway lines, and MasterCard PayPass enabled cards and devices offer a convenient alternative to cash: a simple Tap & Go can make it faster, easier, and in some cases, less expensive to purchase fares. By working with financial institutions and transit operators, MasterCard sought to introduce acceptance in transportation and expand PayPass issuance and use. In 2007, with its focus on two of the country s largest cities, Warsaw and Wroclaw, MasterCard entered into discussions with Mennica Polska S.A., the Mint of Poland. Mennica had expanded its sphere of business beyond the production of currency to include electronic payments, and it was interested in adding contactless capability to its ticket distribution systems. Mennica quickly recognized the technology s advantages in the transit space. MasterCard and Mennica approached Warsaw s city government and Municipal Transport Authority (Zarząd Transportu Miejskiego, or ZTM), and Wroclaw s city government and Transport Association to introduce and promote the use of contactless payment solutions in their transit systems. Both cities are well-known as early adopters of new technology. Emphasizing the transaction speed of contactless payments, the technology s potential for reducing ticket-distribution costs, its convenience for riders, and its mobile payments future-proofing advantages, MasterCard and Mennica found both cities highly receptive to the contactless proposition. The Warsaw Public Transport System Poland s capital and its largest city, Warsaw boasts a welldeveloped public transport system that includes a subway line, some 200 bus lines, and approximately 30 tram lines. Metro Warszawskie, the rapid transit subway system, has 21 stations along its north south route and serves over half a million people daily. Tickets can be purchased at stationary ticket-vending machines. Located at major subway stations, train stations, and on the street, the machines accept cash and payment cards (credit, debit, prepaid) and dispense paper tickets for a variety of short-term fares. These tickets may also be purchased on board buses and trams and at designated shops. In addition, riders can load long-term fares (e.g., monthly passes) onto city cards issued by ZTM, which uses the Mifare transit ticketing application. These fares may be purchased and loaded at ticket-vending machines and other locations. The Wroclaw Public Transport System Wroclaw, Poland s fourth-largest city, offers an extensive public transport system with over 75 bus lines and more than 21 tram lines. Tickets can be purchased at newsstands, kiosks, ticket-vending machines located at the bus/tram stops, and other outlets. At the vending machines, coins are the primary method of payment, while the remaining outlets also accept payment cards (credit, debit, prepaid). As in Warsaw, riders can choose from a variety of fares, and long-term fares (e.g., monthly passes) are loaded onto transit cards issued by the city, which uses the Mifare transit ticketing application. Prior to the launch of the PayPass solution, tickets for a variety of fares could also be purchased directly from the driver on board a bus or tram. The on-board price included a significant surcharge of up to 50%, and only cash was accepted. 2

3 At the same time, the MasterCard team in Poland conducted discussions with Citi Handlowy, an innovative bank with a growing presence in the country, on the potential of another MasterCard solution, the MasterCard PayPass hybrid card, for supporting the bank s cardholder acquisition and usage efforts. The hybrid card integrates the standard PayPass functionality for retail purchases, and a separate application to support proprietary, closed-loop transit applications, such as Mifare. With the hybrid card, consumers have the convenience of using a single card for both public transportation as well as everyday purchases. Citi Handlowy was interested in developing a new product that focused on cardholders daily purchases and that had the scalability to justify the development of a new type of business. Transportation was a natural category to target as it was heavily used by consumers, allowing the bank to engage business commuters, students, and others. By supporting transit payments, the bank could offer a product that would build a bridge between daily commuting spend and everyday payments, such as coffee, newspaper, and groceries. The bank approached the city governments and transit authorities to propose the introduction of the MasterCard PayPass Hybrid Card Solution. objectives Building on Poland s early adoption of contactless technology and focusing on transportation systems, MasterCard partnered with Mennica, Citi Handlowy, and the acquirers First Data Poland (FDP) and Six Multipay to accomplish several important objectives. Expand Noncash Payment Options for Transit Fare Payment Transit operators in Warsaw and Wroclaw were interested in offering passengers additional payment options for transit fare payments. By expanding support for noncash payment options, the transit operators expected to Lower operating costs by reducing the need to handle cash and by shifting a percentage of transit fare-card issuance to financial institutions Deliver added convenience for riders Leverage new technology to enhance operational efficiency, speed rider entry into the transit system, and future-proof the fare-collection system Increase Contactless Acceptance in Transit Both Mennica and the acquirers aimed to Increase electronic payment options for transit ticketing to reduce cash usage Expand PayPass contactless acceptance technology into a new merchant category, transportation Grow the number of acceptance locations by supporting terminalization at stationary and mobile ticketing machines Increase contactless payment card usage by demonstrating the speed and convenience of PayPass Acquire New Customers and Stimulate Card Use On the issuing side, Citi Handlowy intended to leverage the introduction of contactless payment capability in the important everyday category of transit to create a valuable promotional platform and differentiating factor that would Attract new customers to its account base Stimulate greater use of its payment cards Move its cards to top of wallet Strengthen customer loyalty By integrating the payment functionality, enhanced with the contactless capability, and the Mifare transit ticketing application on a single card, the bank hoped to introduce added value and convenience for its current and prospective customers. Solutions Noncash/Contactless Payment Options A number of innovative contactless transit payment solutions including, for the first time in Poland, the ability to use a contactless payment card to purchase a ticket directly on buses and trams have been implemented in Warsaw and Wroclaw to provide convenient electronic payment options for passengers. Mobile Ticketing Solution PayPass on Buses and Trams Convinced that contactless payments provide important value for both the ridership and the transit system, and wanting to differentiate its system as an innovator, the city of Wroclaw issued an RFP in 2009 for new mobile (i.e., wireless) ticketing machines for use on city buses and trams. Proposals had to include functionality for contactless payment cards. For the first time in Poland, passengers would be able to purchase a ticket on board without using cash. Mennica was awarded an exclusive contract with the city government of Wroclaw and the Transport Association to install the mobile ticket-vending machines. Working with FDP and Mennica, MasterCard conducted a small pilot in October 2010, and systemwide installation began a month later. By February 2011, the machines had been installed in all the city s buses and trams. 3

4 The machines allow riders to select from a menu of available fares from single ride to time-limited passes (up to three days) for on-board purchase. Riders make their ticket purchase by simply tapping their PayPass-enabled card or via other payment card options. The machine provides a paper ticket that contains information about the type of fare, its price, and the time and place of purchase. As a result, the transit operator was able to discontinue use of cash for on-board ticket purchases and eliminate cash handling and manual ticket distribution by drivers, along with the associated surcharge. Transaction speed is critically important in a transit environment. The majority of PayPass transactions are authorized offline, and they offer the fastest payment option, with the entire transaction from ticket selection to tap to issuance taking only a few seconds. Other payment interfaces (e.g., chip, magstripe) are authorized online via a wireless connection and can take as long as 10 to 12 seconds. With the new machines, riders have a fast, easy, convenient, and less expensive way to purchase tickets. Previously, riders wishing to avoid the on-board surcharge and the need to carry the correct currency would have to purchase a ticket before entering the vehicle, which delayed their arrival at the stop. Now, they can go straight to their stop, so they re less likely to miss their bus or tram. They don t need cash, and the transit operator has waived the surcharge for on-board purchases. Allowing the riders to quickly purchase their tickets with PayPass can speed up the boarding process, as well, and allows drivers to focus on their primary responsibility, driving the vehicle. By eliminating cash payments on vehicles and automating the ticketing process, the transit operator can potentially benefit from reduced dwell time for the bus, which increases route efficiency. Additionally, the city can benefit from reduced operating expenses associated with the handling, transporting, and securing of cash. To reduce the possibility of PIN theft in the crowded confines of a vehicle and to streamline the boarding process, Mennica eliminated PIN pads from the new machines. Purchases are limited to 50 PLN (i.e., 50 zlotys, the local currency) to comply with the MasterCard requirement for PIN validation for purchases above that amount. This fraud-protection measure permits purchase of short-term fares only. Stationary vending machines and the Internet must be used to purchase long-term (e.g., monthly) fares, which must be loaded onto the rider s Mifare transit ticketing application. Stationary Ticketing Solution PayPass on Ticket-Vending Machines To provide a faster, convenient, and innovative payment option for riders, the City of Warsaw and ZTM decided to implement contactless technology on stationary ticketing machines. Mennica was awarded the contract for ticketing distribution and began installing the contactless-capable machines in July The machines have been installed at metro stations and on the street at major bus and tram stops. By 1Q2011, approximately 160 machines were operational in the Warsaw metropolitan area. The machines enable riders to purchase a wide variety of fares for the subway, buses, and trams. Riders simply choose the desired fare and tap with their PayPass card or device on the contactless terminal to make the purchase. Paper tickets are dispensed for short-term fares and are validated on first entry. Long-term fares must be loaded onto the rider s Mifare transit ticketing application, which the rider then uses to enter the system. The contactless functionality, with fast EMV offline authorization, allows riders to buy tickets much more quickly than with cash or contact credit or debit cards, all of which are also supported: from tap to authorization requires only a few hundred milliseconds. 4

5 As a result, queue lines for ticket purchasing can potentially move more quickly, allowing riders to travel faster. Contactless payment also offers greater convenience because it frees riders from having to plan ahead and carry the correct coinage, or having to change notes to acquire the needed coins. In addition, with the introduction of the fast contactless ticketing option, transit operators can potentially benefit from a reduction in cash use and associated operating expenses. Rider Awareness To promote passenger awareness of this convenient new payment mechanism on the transit system, each city undertook a public relations campaign that included a variety of media. To support the cities efforts, MasterCard, FDP, and Six Multipay sponsored promotional marketing activities. Contactless payment instructions along with a film demonstration were made available on the Mennica website. Additionally, instructions were provided on the ticketing machines, and posters were placed in vehicles, at stations, and in surrounding areas. Debit MasterCard Hybrid Card In October 2010, Citi Handlowy began issuing the Citibank Municipal Payment Card in Warsaw. Integrating the PayPass-enabled Debit MasterCard card with the Mifare application, it was the first of its kind in Poland. In May 2011, the Citibank Urbancard, a technologically identical hybrid card, was introduced in Wroclaw. 7 According to Sebastian Geldner, head of Transactional Banking, Citi Handlowy, the bank saw the advent of contactless transit payments as an opportunity to attract new customers, increase card use, move its cards to top of wallet, and strengthen customer loyalty. With a history of differentiating its products through the added convenience delivered by innovative, value-added services, Citi Handlowy was attracted to the MasterCard PayPass Hybrid Card Solution, which combines traditional payment functionality with an independent transit application. The MasterCard PayPass Hybrid Card Proposition The bank worked closely with MasterCard on a broad spectrum of issues, from technology to branding to marketing, in developing its hybrid card proposition. Then, the bank approached ZTM to propose issuance of a new Citi card that would integrate the payment functionality of a PayPass-enabled Debit MasterCard card with the local Mifare transit ticketing application. The card would allow riders to purchase tickets with the MasterCard PayPass or another payment functionality (e.g., chip), load long-term fares onto the same card via the Mifare application, and make everyday purchases. ZTM found the MasterCard PayPass Hybrid Card Solution a highly attractive opportunity to introduce an innovative solution that could benefit the citizens of Warsaw by reducing operating expenses while at the same time increasing rider convenience. The buying and issuing of proprietary plastic cards for the transit system represents a significant expense for transit operators, but with the hybrid card solution, Citi Handlowy would take responsibility for installing the Mifare application and issuing the card. This shift of operational responsibilities to the bank could potentially reduce the number of cards issued by ZTM. Card Features In addition to the payment and transit capabilities, Citi Handlowy s MasterCard PayPass hybrid cards offer several valuable features: Transportation savings: As a value-added service, cardholders benefit from discounts on the purchase of long-term bus, tram, or subway tickets with the Citi Handlowy Debit MasterCard card. Debit hybrid cardholders receive a 10% discount if they have receipts of at least PLN 1,500 monthly on the current account. Holders of both the debit and credit cards can receive a discount of up to 20% if they meet the debit requirement and use their credit card at least once a month. Personalization: The card is personalized with both the name and photo of the cardholder, and it is available at Citi Handlowy branches and at other select locations in both cities. Instant issuance: In both Warsaw and Wroclaw, the Citi Handlowy card can be issued quickly, during Transportation is heavily used by consumers on a daily basis. It presents an opportunity for building a kind of bridge between the daily behavior of consumers and the financial services our bank offers. Sebastian Geldner Head of Transactional Banking 5

6 a single visit to the branch, unlike a municipal card, which typically requires a wait of several days. Parking: In Warsaw, the card supports the city s municipal parking application, offering an added convenience by giving cardholders a single card for all their transportation needs. Municipal ticket: In Wroclaw, the card can be used as an electronic entry ticket to public city facilities, such as the zoo or the aqua park. 8 In addition to PayPass, the Citi Handlowy hybrid card also supports all modern features available for debit cards, such as EMV technology, cashback transactions, and e-commerce transactions. Card Promotion In Poland s competitive payment card market, says Geldner, most banks offer similar payment functionality and waive most service fees. To differentiate itself to consumers, Citi Handlowy focused on marketing the card s unique transportation and city application features. As a special launch promotion, the bank waived the standard monthly fee during the first several months. In both Warsaw and Wroclaw, Citi Handlowy invested in mass-marketing promotional campaigns for the Debit MasterCard hybrid card, including print ads in vehicles and stations and at stops, display ads that covered the entire side of vehicles, billboards, radio spots, and Internet advertising. One very successful marketing program was Citi Handlowy s giveaway of an ipod shuffle to the first 3,000 cardholders who either had an 1,500 PLN inflow to their current accounts or performed at least one POS transaction with a credit card. The bank also organized a robust marketing effort on the street and in branches. At high-traffic locations on the street, dedicated agents equipped with laptops and printers initiated contact with consumers on their way to work and provided a quick and convenient way to apply for the hybrid card. Results The citizens of Warsaw and Wroclaw have embraced using PayPass for their daily transportation needs, says Michal Skowronek, MasterCard country head of Poland. The impressive growth in usage that we ve seen and the growing interest in the Citi Handlowy card clearly demonstrate that consumers understand the speed and convenience that PayPass offers in the transit system as well as in the retail environment. PayPass activity in Poland has certainly generated impressive numbers: The number of PayPass-enabled cards in circulation in Poland has grown dramatically, tripling in a single year (2Q2011 versus 2Q2010). In 2Q2011, the number of PayPass transactions for transit in Warsaw and Wroclaw increased by 190% over 1Q2011, the first full quarter after launch, nearly double the growth rate in overall PayPass transactions in Poland. By 2Q2011, PayPass transit transactions reached 7% of total PayPass transactions in Poland, despite the fact that transit accounted for only 2% of the country s PayPass-enabled terminals. Mennica is the second-fastest-growing merchant for PayPass in Poland in 1H2011, with 126,861 total transactions. PayPass is growing overall card spend at Mennica, most likely by displacing cash. In the year ending 2Q2011, overall spend in transit more than doubled, growing by 107%. In transit, cardholders prefer PayPass. In 2Q2011, PayPass spend for transit fare purchases grew 228% over 1Q2011, while standard credit and debit card transit spend continued to grow, but only by 25% over the same period. 9 Clearly, transit can help drive transactions and spend on PayPass-enabled cards. According to Michal Miernecki, project manager, Electronic Payments Development Department, Mennica, use of Wroclaw s mobile ticket machines has been very high, especially among younger riders, who quickly adapted to the new contactless option. Although it is still early, Miernecki notes that preliminary results indicate that with more riders and more efficient system controls, transportation revenues for the city government may be higher. This, he believes, is a result of the greater ease and convenience in using the public transportation system that the new machines have introduced. With the elimination of cash from on-board purchases, the city has been able to increase the efficiencies of and its control over the ticketing system. The new machines have enabled improvements in tracking ticket purchases and reducing inaccurate handling of cash. We expected this kind of payment to explode because there is no need to change notes and coins. What is more, PayPass is faster than cash for both the riders and the driver. Michal Miernecki Project manager, Electronic Payments Development Department Mennica 6

7 New Transit Implementations As a result of the initial success in Warsaw with stationary machines, discussions are under way to introduce the mobile contactless payment option on 20 of the city s transit vehicles. In Wroclaw, the success with mobile devices is now generating interest in extending contactless capability to stationary machines. Meanwhile, other cities are taking notice of the successes in Warsaw and Wroclaw. In Lodz, for example, Mennica has rolled out the first stage of a mobile solution similar to that introduced in Wroclaw, with wireless contactlesscapable terminals already on 55 buses, with another 50 scheduled for the second stage. An Issuing Success Introduced in Warsaw in October 2010, the Citibank Municipal Payment Card had been issued to some 16,000 cardholders in Warsaw and Wroclaw through 1H2011 and has generated impressive early results: New customer acquisition: Citi Handlowy has met its goal of attracting new customers with the MasterCard PayPass Hybrid Card Solution. Nearly 70% of those acquiring the hybrid card are new to the bank. Payment usage: Although it is still early, Citi Handlowy is seeing some benefits when comparing the performance of hybrid cards to standard cards: Over the first seven months, the transportation card was used on average 45% more in POS transactions. Average overall spend on hybrid cards is similar to that on standard cards, but due to the increase in low-value payments, the average ticket size is 35% less. 10 We ve been pleased with the reception the citizens of Warsaw have given the Citibank Municipal Payment Card, says Geldner. This solution has helped to differentiate our bank and our payment products, and demonstrate not only our innovative thinking, but also our dedication to making our customers lives easier and more satisfying. We feel that the integrated card will contribute substantially to our objectives attracting new customers, driving card transactions and spend, and helping us to build our business in Poland. Citi Handlowy reports that it has additional expansion plans in other cities and expects to incorporate valueadded services to attract new customers and promote the convenience of its card for everyday use. In September 2011, another financial institution, Bank Zachodni WBK (BZWBK), entered the transit space, issuing a prepaid MasterCard PayPass Hybrid Card Solution in Poznan for access to the city s transit system. The card includes both a proprietary Mifare/ chip transit application as well as standard prepaid functionality for use in daily purchases. BZWBK chose the prepaid solution to expand the card s appeal to a broader audience, including individuals without a banking relationship, such as young people. Positive Coverage The media attention surrounding the cities investment in the public transportation system has been very positive. Many news articles have reported favorably on the improvements that Warsaw and Wroclaw have made. Lessons Learned Overall, the introduction of PayPass-enabled ticketvending machines in Warsaw and Wroclaw moved quickly and smoothly, with few disruptions. Both cities were strongly supportive of the projects, which aligned well with their interests, and their support helped smooth the process. Both technical and product development learnings were gleaned from the projects. Certification of New Devices While PayPass has been in market for a number of years, these projects broke new ground by introducing PayPass into the transit systems of the Polish cities. As with any new project, having the flexibility and time to accommodate new requirements is important. While many devices support PayPass, the New Hybrid Card Offerings Building on its success in Warsaw and Wroclaw, Citi Handlowy has also begun issuing a MasterCard PayPass Hybrid Card Solution in Tricity Metropolis (comprising the cities of Gdansk, Gdynia, and Sopot, with a population of approximately 1 million). Tricity has four independent transit agencies, and the new Debit MasterCard hybrid card includes the PayPass payment functionality and a Mifare transit application that accommodates all four agencies. 7

8 terminal readers for the mobile project, provided by Vivotech, had to be certified for the first time at the start of the Wroclaw project. For MasterCard, Card Type Approval was required to verify that this product demonstrated conformance to the EMV specifications. The Wroclaw implementation was therefore extended by a couple of months to enable the certification of this new device. With the initial certification complete, the readers can be easily rolled out to other projects in the future. Wireless Connectivity As in any wireless implementation, telecom functionality is a critical component and can present specific challenges. Early in the launch, some riders reported problems purchasing tickets for online transactions. Upon investigation, Mennica found the wireless GPRS connection on the vehicles sometimes timed out, particularly if the vehicle was moving. Troubleshooting identified a problem with the vehicles modems, which were replaced. According to Mennica, the replacements have significantly reduced the frequency of this problem. Since most transactions occur offline, the majority of riders were not directly affected. Nevertheless, it is recommended that transit agencies carefully evaluate their hardware, choose an appropriate data plan that optimizes data usage, and work with their network carrier to manage network dormancy issues that may arise. really worthwhile to seek out and implement such innovations, says Geldner. But if a bank is entering an area that is not familiar for us, transit was an area where we had no expertise you need to analyze every single detail of your project very carefully. Conclusion As demonstrated in other cities from New York to Taipei and confirmed in Warsaw and Wroclaw, PayPass contactless payment capability adds a quick and convenient way for consumers to pay for transit tickets, both in stationary and mobile ticketvending environments. For transit agencies and city governments, contactless solutions can help reduce ticketing costs and cash handling, increase ridership, and improve the riders experience. For issuing financial institutions, transit presents opportunities in the areas of customer acquisition, card use, and loyalty, while acquiring institutions can benefit from a potentially significant increase in transactions. The involvement of MasterCard in these projects, our broad understanding of the intricacies and business challenges of the transit industry, and our continuing drive for innovative solutions will help us deliver the fare-payment tools of the future for agencies large and small. We are committed to working with transit agencies worldwide as they develop their plans to take advantage of contactless transit payment solutions. New Product Development Geldner noted that new operational processes e.g., personalizing the transit application, integrating the customer photo, ensuring compatibility between the payment and transit applications must be carefully accounted for in the business and implementation plans. The intellectual and financial effort required to implement this innovative, value-added solution certainly has the potential to translate into a positive business benefit financial results, the number of customers acquired, and so on. So it s 1 2Q2011 versus 1Q2011. MasterCard data. 2 MasterCard data. 3 Mennica Polska S.A. (Mint of Poland), which manages the ticket distribution system. 4 Source: Mennica Polska S.A. 5 Zblizeniowe karty platnicze w Polsce rok 2009 (Contactless Payment Cards in Poland 2009), Dr. Michael Polasik, Polasik Research, January MasterCard data. 7 The Warsaw card was also offered on a contact-only credit platform. In Wroclaw, only the PayPass-enabled Debit MasterCard version is currently available. 8 Sources for card features: Citi Handlowy Launches First Payment Public Transport Card in Poland, Citi Handlowy press release, 8 October The First Payment Card & Public Transport Travel Pass in Wroclaw, Citi Handlowy press release, 27 May All figures in this paragraph are derived from MasterCard data. 10 All information in this paragraph has been supplied by Citi Handlowy. MasterCard Worldwide is at the heart of commerce. Our understanding of how and why commerce is conducted allows us to create more advanced methods of payment that fuel economic connections and drive real business value MasterCard. Proprietary and Confidential. All rights reserved. 8

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