Mastercard Worldwide Page 2 Name Appears Here

Biography

Stephen Carnevale Vice President, U.S. Commerce Development New Markets and Consumer Bill Pay MasterCard Worldwide

Stephen Carnevale is Vice President, U.S. Commerce Development for MasterCard Worldwide. Mr. Carnevale oversees MasterCard’s business development activities for the following industries: Utilities; Insurance; Telecommunications; Cable/Satellite; Real Estate/Property Management; Government; Education; Mass Transit; Nonprofit Organizations. In his role, Mr. Carnevale is responsible for expanding MasterCard acceptance in an effort to drive card-based volume and transaction growth for the company. He is also responsible for expanding MasterCard’s reach within the EFT bill pay market through the company’s RPPS service. He directs a team of account managers who are responsible for developing relationships with the key category leaders within the targeted industries. Mr. Carnevale is also responsible for ongoing development of two acceptance programs which support merchants within the bill pay categories. They are the “Service Industries Incentive Program” and the “MasterCard Utility Industry Program”.

Prior to his current role, Mr. Carnevale served as Vice President, Retail Markets for MasterCard’s U.S Acceptance group (which is now known as U.S. Commerce Development) where he managed key relationships within the retail sector including Home Depot and JC Penney. Through these relationships, he was responsible for driving business development initiatives across several areas including co-branding, marketing and technology.

Mr. Carnevale first joined MasterCard in 1995 after a successful career in Sales Management at Entertainment Publications, Inc. Early on at MasterCard, he was responsible for business development within the Entertainment category, as well as starting up a new business unit which produced a revolutionary market information tool utilizing MasterCard’s transactional purchase data in order to provide a comprehensive understanding of consumer shopping behavior across both traditional and online retail channels.

Mr. Carnevale is a graduate of Muhlenberg College with a degree in Business and Communications.