First Citizens Announces Visa payWave Card Rollout

First Issuer in South Carolina to Offer Contactless Payment Cards, Cardholders to “Wave” Through Checkout Lines Without Fumbling for Cash

SAN FRANCISCO–First Citizens announced today that consumers in South Carolina and eastern Georgia will now have a new way to shop quickly and securely using Visa’s state-of-the-art Visa payWave technology. Visa payWave, a new feature found on a growing number of Visa cards worldwide, enables customers to make purchases by simply “waving” their Visa payWave card near a secure reader at checkout.

With the addition of First Citizens, 12 Visa issuers in the United States have begun to offer cards with the Visa payWave feature, and more than 37,000 U.S. merchant locations accept Visa payWave. The technology uses radio-frequency, or RF, to send payment information rapidly and securely over an extremely short distance to the terminal. All cards with Visa payWave also have the traditional magnetic stripe, and are accepted at more than 20 million locations worldwide.

“At First Citizens, we are committed to providing unrivaled service to our customers,” said Ed Prosser, Consumer Lending Director for First Citizens. “By issuing payment cards embedded with Visa payWave technology, we can offer our customers a faster payment experience while providing the same level of convenience and security they’ve come to expect from First Citizens.”

In addition to making electronic payments faster, Visa payWave transactions do not require a signature for most purchases under $25. Cardholders enjoy all the same security protections the industry has come to expect from Visa, including zero liability for fraudulent charges and Visa’s industry-leading anti-fraud technology. Visa payWave provides additional layers of security because the card never leaves the customer’s hand, can only be read at extremely close proximity to a contactless reader, and uses data that is unique to each contactless transaction.

“Visa cardholders are looking for faster and more convenient transactions, especially for every-day small ticket transactions at fast food restaurants, convenience stores and thousands of other merchants in the U.S.,” said Brian Triplett, Senior Vice President of emerging product development at Visa USA. “Thanks to our partnerships with issuers like First Citizens, we are able to give consumers the experience they demand.”

About Visa payWave

Since its introduction in 2005, Visa’s contactless technology has grown rapidly in popularity. To date, more than 9 million cards with the Visa payWave feature have been issued in the United States alone. The technology is already in use at convenience stores, sporting venues, gas stations and fast food restaurants nationwide.

About First Citizens Bank

First Citizens Bancorporation, Inc., is the parent company of First Citizens Bank and Trust Company, Inc., and The Exchange Bank of South Carolina, Inc. First Citizens Bank offers services in commercial and retail banking through its 166 offices in South Carolina and Georgia. As of June 30, 2007, First Citizens Bancorporation had total consolidated assets of $6.08 billion. For more information, visit the First Citizens web site at www.firstcitizensonline.com.

About Visa USA

Visa USA is a leading payments brand and the nation’s largest payments system, enabling banks to provide their consumer and business customers with a wide variety of payment alternatives tailored to meet their evolving needs. Visa USA is committed to increasing the choice, convenience, acceptance and security of Visa payments for all stakeholders – financial institutions, cardholders and merchants. As of March 31, 2007, in the United States, more than 521 million Visa-branded cards have been issued by more than 13,000 financial institution customers. Visa products generated $1.8 trillion in total volume in the United States during the four quarters ended March 31, 2007. Visa enjoys unsurpassed acceptance around the globe. For more information, visit www.visa.com.