Press Release Details

PARSIPPANY, N.J., July 19, 2016 (GLOBE NEWSWIRE) -- Avis Budget Group (NASDAQ:CAR) today announced that MasterPass by MasterCard is now a payment option for customers. Travelers can now pay for rentals in advance with a new digital payment option when they make reservations on Avis.com or Budget.com. Avis Car Rental and Budget Car Rental are the first car rental providers participating in the digital payment service.

Avis and Budget customers who select the Pay Now option on Avis.com or Budget.com will get the lowest rates available online by paying in advance. Now, these customers can also enjoy the speed and convenience of using MasterPass by clicking the "Buy with MasterPass" button, signing into their MasterPass account and paying for their car rental reservation with their stored method of payment.

"MasterCard processes billions of transactions each year, so we're thrilled to team up to offer MasterPass users a convenient way to prepay their Avis or Budget rental," said Scott Deaver, executive vice president and chief marketing officer, Avis Budget Group. "This initiative will enhance the customer experience we offer and should also help improve our reservation conversion rates as we look to continue to accelerate growth."

"The digitization of commerce and the increased connectivity of consumers is driving digital transformation around the world," said Linda Kirkpatrick, executive vice president, MasterCard. "We are delighted to partner with Avis Budget Group on innovations like MasterPass, which supports Avis' focus on customer service excellence, by delivering a safe, seamless and simple payment experience for consumers."

MasterPass by MasterCard connects consumers with merchants, enabling them to make fast, simple and secure digital payments across channels and devices. U.S. consumers can sign up for a MasterPass account by visiting the MasterPass website or through a participating bank. Launched in 2013, MasterPass by MasterCard is free, easy to set up, and accepted anywhere you see the "Buy with MasterPass" button. It is currently available in 32 countries and is accepted at 270,000 merchants globally. For a list of MasterPass-accepting retailers in a particular area, please visit www.shopnow.masterpass.com.

About Avis Budget Group
Avis Budget Group, Inc. is a leading global provider of vehicle rental services, both through its Avis and Budget brands, which have more than 11,000 rental locations in approximately 180 countries around the world, and through its Zipcar brand, which is the world's leading car sharing network, with nearly one million members. Avis Budget Group operates most of its car rental offices in North America, Europe and Australia directly, and operates primarily through licensees in other parts of the world. Avis Budget Group has approximately 30,000 employees and is headquartered in Parsippany, N.J.  More information is available at www.avisbudgetgroup.com.

About MasterCard
MasterCard (NYSE:MA), www.mastercard.com, is a technology company in the global payments industry. MasterCard operates the world's fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard products and solutions make everyday commerce activities — such as shopping, traveling, running a business and managing finances — easier, more secure and more efficient for everyone. Follow MasterCard on Twitter @MasterCardNews, join the discussion on the Beyond the Transaction Blog and subscribe for the latest news.

Contact:
Amy Ackerson
(973) 496-3916
PR@avisbudget.com