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August 16, 2006

Advanta Rolls Out First Contactless Credit Cards
Advanta Corp. is rolling out its first contactless PayPass-enabled Advanta MasterCard Small Business card in September. It is not only Advanta's first contactless card, but also the first small business credit card to be equipped with PayPass payment technology.

PayPass contactless technology allows customers to tap their Advanta business credit card on a specially-equipped terminal that utilizes a radio frequency chip to complete their transaction at participating retailers and restaurants.

"When MasterCard developed this technology, its benefits were most easily associated with simplifying transactions for the everyday consumer. But it has become very clear that the small business owner can benefit from PayPass just as easily," said Ann Camarillo, executive vice president, MasterCard Worldwide. "Now, small business owners will spend less time standing in line and more time on what it takes to successfully run their business."

In the interest of encouraging small business owners to use the contactless technology, Advanta is working with MasterCard to identify merchants that small business owners do business with in order to grow acceptance of contactless payment cards.

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