MasterCard Partners with the American Payroll Association as the Exclusive Sponsor of Money Matters National Education Day

PURCHASE, N.Y., Feb. 23 /PRNewswire/ -- MasterCard Worldwide today announced that it is the inaugural and exclusive platinum sponsor of Money Matters National Education Day, part of the American Payroll Association's (APA) National Payroll Week (Sept. 6-10, 2010). Held on Sept. 9, 2010, MasterCard Money Matters National Education Day is devoted to helping youth entering the workforce understand their paychecks and the payroll withholding system. As a leader in prepaid payroll distribution, MasterCard will be helping to educate the APA's program participants about prepaid payroll cards and the benefits they offer.

During Money Matters National Education Day, APA member payroll professionals will visit local high schools and youth groups to hold payroll classes around the country. The APA has teamed up with the National Council on Economic Education to create a special lesson plan that teaches students new to the workforce or about to enter the workforce about the elements of a paycheck, the amount of taxes they can expect to have withheld, and how those taxes are calculated. In 2009, more than 600 volunteers and 56,000 high school students participated in the program.

"At MasterCard, we believe a solid understanding of the payroll system is essential to achieving financial literacy and success. That's why we're proud to sponsor Money Matters National Education Day, which helps today's young people, who may be receiving their first paychecks, better understand where their paychecks come from and where their money goes," said Laura Kelly, Senior Vice President, Global Prepaid & Healthcare Solutions, MasterCard Worldwide. "As a leader in prepaid, we understand that educating the workforce of tomorrow about the security, flexibility and convenience of prepaid payroll cards over cash and check is crucial – particularly as many employers move toward prepaid payroll cards."

As part of MasterCard Money Matters National Education Day, MasterCard will also sponsor four scholarships for junior and senior high school students for continued education, including one Scholarship Grand Prize of $5,000 and three Scholarships of $1,000. Students who demonstrate an understanding of the MasterCard Money Matters National Education Day curriculum are eligible for the prizes and will be chosen at random from a pool of eligible participants. Scholarships are sponsored by MasterCard and managed by the APA.

"Money Matters National Education Day is a volunteer-run event that strives to educate students about their paychecks and the payroll system. We're excited to partner with MasterCard as the inaugural sponsor," said Dan Maddux, Executive Director, APA. "We look forward to working with MasterCard to help students understand the payroll system and the benefits of payroll cards."

Prepaid payroll cards are an easy and cost-effective alternative to paper check payroll distribution. For employers, prepaid payroll cards can save time and money by streamlining the payment process and improving the employee payday experience. For employees, prepaid cards offer a simple and secure way to make purchases, pay bills and access funds at ATMs. For employees without bank accounts, prepaid cards can also make it easier to manage finances than with cash or check.

For more information about MasterCard Money Matters National Education Day, visit www.nationaleducationday.com. More information about National Payroll Week is available at www.nationalpayrollweek.com.

About MasterCard

MasterCard Worldwide advances global commerce by providing a critical economic link among financial institutions, businesses, cardholders and merchants worldwide. As a franchisor, processor and advisor, MasterCard develops and markets payment solutions, processes approximately 22 billion transactions each year, and provides industry-leading analysis and consulting services to financial-institution customers and merchants. Powered by the MasterCard Worldwide Network and through its family of brands, including MasterCard®, Maestro® and Cirrus®, MasterCard serves consumers and businesses in more than 210 countries and territories. For more information go to www.mastercard.com.

About APA

The American Payroll Association is the nation's leader in payroll education, publications, and training. The nonprofit association conducts more than 300 payroll training conferences and seminars across the country each year and publishes a complete library of resource texts and newsletters. Every year, nearly 20,000 professionals attend APA training sessions. Visit APA online at www.americanpayroll.org.

SOURCE MasterCard Worldwide