SAN FRANCISCO--(BUSINESS WIRE)--Feb. 27, 2001-- MasterCard International today launched MasterSource(TM), a program that offers a web-based ratings system to foster trust between buyers and sellers in e-marketplaces and corporate exchanges. Through Buyer Insight(TM), a co-developed solution from Open Ratings and Dun & Bradstreet, the MasterSource program helps businesses using any MasterCard Corporate Payment Solution(a) make informed, cost-effective, e-procurement decisions based on detailed supplier performance data. In return, sellers can distinguish themselves in the e-marketplace using the system's optional performance analysis. For MasterCard Corporate Payment Solutions cardholders, the fee to access this new program is waived.

"MasterSource operates on the principle that if buyers can access reliable information about potential trading partners, their confidence levels will increase, resulting in more completed transactions through e-marketplaces,'' said Steve Abrams, senior vice president, Corporate Payment Solutions, MasterCard International. "We are pleased to be able to offer this valuable program free of charge to all of our corporate cardholders.''

MasterSource can also be used to compare current trading partners with other merchants within a specified supplier base to ensure optimal value when making purchasing decisions. Through the use of Buyer Insight, the program also provides access to detailed business and financial information about suppliers within a participating exchange network.

Among the e-marketplaces that are implementing MasterSource are GoTradeSeafood, the leading business-to-business Internet seafood trading site and WHN Exchange(TM), a leading e-marketplace to buy and sell the hottest licensed merchandise online. WHN Exchange is built on the Ariba business-to-business commerce platform.

"The new MasterSource program benefits WHN Exchange members by providing buyers and suppliers with critical performance information to help them make confident transaction decisions,'' said Frank Keating, general manager of WHN Exchange. "We are excited to be a part of the MasterSource program and feel that our clients will find enhanced value from our marketplace because of it.''

Sophisticated Performance, Simple Format

Any prospective buyer, whether a small business owner or Fortune 500 procurement officer, can use MasterSource to view Buyer Insight's sophisticated predictive data on select exchanges in an easy-to-understand ratings format.

Through Buyer Insight, Open Ratings and Dun & Bradstreet provide a critical service to help trading partners on public and private e-marketplaces build confidence and strengthen new and existing trading relationships. It is a single point solution for purchasing professionals to obtain and evaluate supplier performance information in real time and across many e-marketplaces. The service combines Open Ratings' patent-pending predictive rating of a vendor's performance -- based on criteria including timeliness, responsiveness and reliability -- and Dun & Bradstreet's global database of unbiased business information. Dun & Bradstreet's information and technology solutions help businesses reduce credit risk, find profitable customers, manage vendors efficiently and collect cash and receivables.

"MasterSource represents a critical step in the mission of Open Ratings to become the global standard for supplier performance ratings systems for all enterprise procurement activity,'' said Stan Smith, CEO, president and founder of Open Ratings. "MasterCard recognizes the need to build confidence between the vast numbers of potential but unknown trading partners and we are pleased that we have been singled out by MasterCard as a key enabler.''

Pattie Maes, Ph.D., founder and director of Open Ratings and associate professor at the MIT Media Lab, commented, "The Internet offers an outstanding opportunity for buyers and sellers to come together and transact with anyone, anywhere, anytime. The alliance between MasterCard and Open Ratings brings together two visionaries using this medium to achieve a common goal: to help companies do business more efficiently and effectively than ever before.''

Maes is associate professor of the MIT Media Laboratory, where she founded and directs the Software Agents Group, and is principal investigator of the e-markets Special Interest Group. Through a grant of $5 million, MasterCard established the MasterCard Future of Transactions Laboratory, which explores innovative technologies that will help consumers, businesses and retailers conduct transactions easily, efficiently and securely.

About MasterCard

MasterCard International has the most comprehensive portfolio of payment brands in the world. More than 1 billion MasterCard®, Cirrus® and Maestro® logos are present on credit, charge and debit cards in circulation today. An association comprised of 22,000 member financial institutions, MasterCard serves consumers and businesses, both large and small, in 210 countries and territories. MasterCard is the leader in quality and innovation, offering a wide range of payment solutions in the virtual and traditional worlds. With more than 19 million acceptance locations, no card is accepted in more places and by more merchants than the MasterCard Card. In 1999, gross dollar volume exceeded US$727 billion. MasterCard can be reached through its World Wide Web site at http://www.mastercard.com.

About Open Ratings

Open Ratings is the global standard for supplier performance ratings for all enterprise procurement initiatives. Open Ratings offers sophisticated supplier performance evaluation systems to the Global 3,000 and the exchanges in which they transact to help purchasing professionals make informed and confident transaction decisions that result in improved performance and reduced costs. Based in Boston, Mass., Open Ratings was founded in May 1999 by MIT scientists Pattie Maes and Giorgos Zacharia, with Stan Smith, former vice president and general manager of Agile Software. Open Ratings' investors include Ampersand Ventures, Atlas Venture and Dun & Bradstreet. More information about Open Ratings can be found at www.openratings.com.

(a) Corporate Payment Solutions cards include: MasterCard BusinessCard® Card, MasterCard Executive BusinessCard Card®, MasterCard BusinessCard Debit Card(TM), MasterCard Corporate Card(TM), MasterCard Corporate Executive Card(TM), MasterCard Corporate Purchasing Card(TM), MasterCard Corporate Fleet Card®, MasterCard Corporate Multi Card(TM) Card, MasterCard Public Sector Travel Card, MasterCard Public Sector Purchasing Card, MasterCard Public Sector Fleet Card, MasterCard Public Sector Multi Card, MasterCard Government Fleet Card, MasterCard Government Purchasing Card, and MasterCard Integrated Solution.

Buyer Insight and Open Ratings are trademarks of Open Ratings, Inc.

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