About Mastercard

Mastercard Incorporated (Mastercard) operates as a technology company in the global payments industry. The company conducts its business principally through its principal operating subsidiary, Mastercard International Incorporated. The company connects consumers, financial institutions, merchants, governments, digital partners, businesses and other organizations worldwide by enabling electronic payments and making those payment transactions safe, simple, smart and accessible. The company makes payments easier and more efficient by providing a wide range of payment solutions and services using the company’s family of well-known and trusted brands, including Mastercard, Maestro and Cirrus. The company operates a multi-rail payments network that provides choice and flexibility for consumers, merchants and the company’s customers. Through the company’s unique and proprietary core global payments network, the company switches (authorizes, clears and settles) payment transactions. The company has additional payments capabilities that include automated clearing house (‘ACH’) transactions (both batch and real-time account-based payments). Using these capabilities, the company offers payment products and services and capture new payment flows. The company’s value-added services include, among others, cyber and intelligence solutions designed to allow all parties to transact securely, easily and with confidence, as well as other services that provide proprietary insights, drawing on the company’s principled and responsible use of secure consumer and merchant data. The company’s investments in new networks, such as open banking solutions and digital identity capabilities, support and strengthen the company’s payments and services solutions. Each of the company’s capabilities support and build upon each other and are fundamentally interdependent. For the company’s core global payments network, the company’s franchise model sets the standards and ground-rules that balance value and risk across all stakeholders and allows for interoperability among them. The company employs a multi-layered approach to help protect the global payments ecosystem in which the company operates. Strategy The company’s strategy centers on growing its core payments network, diversifying its customers and geographies and building new capabilities through a combination of organic and inorganic strategic initiatives. The company is executing on this strategy through a focus on three key priorities: expand in payments for consumers, businesses and governments; extend the company’s services to enhance transactions and drive customer value; and embrace new network opportunities to enable open banking, digital identity and other adjacent network capabilities. Each of the company’s priorities supports and builds upon each other and are fundamentally interdependent. Key Strategic Priorities Expand in Payments: The company focuses on expanding upon its core payments network to enable payment flows for consumers, businesses, governments and others, which provides them with choice and flexibility to transact across multiple payment rails (including cards, real-time payments, account-based transactions, crypto and others), while ensuring that all payments are safe, secure and seamless. The company does so by driving growth in consumer payments with a focus on accelerating digitization, growing acceptance and pursuing an expanded set of use cases, including through partnerships; capturing new payment flows by expanding the company’s multi-rail capabilities and applications to penetrate key flows, such as commercial point-of-sale transactions, business-to-business (‘B2B’) accounts payable flows, disbursements and remittances and consumer bill payments; and leaning into new payment innovations, including acceptance growth accelerators such as Tap on Phone, cloud commerce and contactless, as well as developing solutions that support digital currencies and blockchain applications Extend the company’s Services: The company’s services drive value for its customers and the broader payments ecosystem. These services include cyber and intelligence solutions, insights and analytics, consulting, marketing, loyalty, processing and payment gateway solutions for e-commerce merchants. As the company drives value, its services generate revenue while helping to accelerate the company’s overall financial performance by supporting revenue growth in payments and new network opportunities. The company extends its services by enhancing the value of payments by making payments safe, secure, intelligent and seamless; expanding services to new segments and use cases to address the needs of a larger set of customers, including financial institutions, merchants, governments, digital players and others, while expanding the company’s geographic reach; and supporting and strengthening new network capabilities, including expanding services associated with digital identities and deploying the company’s expertise in open banking and open data. Embrace New Network Opportunities: The company is building and managing new adjacent network capabilities to power commerce and payments, creating new opportunities to develop and embed services. The company does so by applying its open banking solutions to help institutions and individuals exchange consumer-permissioned data securely and easily by enabling the reliable access, transmission and management of consumer data (including for opening new accounts, securing loans, increasing credit scores and enabling consumer choice in money movement and personal finance management); and enabling digital identity solutions to instill trust in the digital world and help ensure that payments across consumers, businesses, devices and virtual entities are efficient, safe and secure. Each of the company’s priorities supports and builds upon each other and are fundamentally interdependent: Payments provide data and distribution to drive scale and differentiation in services and enable the development and adoption of new network capabilities. Services improve the security, efficiency and intelligence of payments, improve portfolio performance, differentiate the company’s offerings, strengthen its customer relationships and support the company’s open banking and digital identity networks. New network opportunities strengthen the company’s digital payments value proposition, including improved authentication with digital identity, and new opportunities to develop and embed services in the company’s expanding product offerings. Business Multi-Rail Network and Payments Capabilities The company enables a wide variety of payments capabilities (including products and value-added services and solutions) over the company’s multi-rail network among account holders, merchants, financial institutions, businesses, governments and others, offering the company’s customers one partner for their payment needs. Payment Network The company’s core payment network links issuers and acquirers around the globe to facilitate the switching of transactions, permitting account holders to use the company’s products at over 100 million acceptance locations worldwide. This network facilitates an efficient, safe and secure means for making and receiving payments, a convenient, quick and secure payment method for consumers to access their funds and a channel for businesses to receive insight through information that is derived from the company’s network. The company enables transactions for its customers through its core payment network in more than 150 currencies and in more than 210 countries and territories. Payment Network Transactions. The company’s core payment network supports what is often referred to as a ‘four-party’ payments network and includes the following participants: account holder (a person or entity who holds a card or uses another device enabled for payment), issuer (the account holder’s financial institution), merchant and acquirer (the merchant’s financial institution). The company does not issue cards, extend credit, determine or receive revenue from interest rates or other fees charged to account holders by issuers, or establish the rates charged by acquirers in connection with merchants’ acceptance of the company’s products. In most cases, account holder relationships belong to, and are managed by, the company’s customers. In a typical transaction, an account holder purchases goods or services from a merchant using one of the company’s payment products. After the transaction is authorized by the issuer, the issuer pays the acquirer an amount equal to the value of the transaction, minus the interchange fee (described below) and other applicable fees, and then posts the transaction to the account holder’s account. The acquirer pays the amount of the purchase, net of a discount (referred to as the ‘merchant discount’ rate), to the merchant. Interchange Fees. Interchange fees reflect the value merchants receive from accepting the company’s products and play a key role in balancing the costs and benefits that consumers and merchants derive. The company (or, alternatively, financial institutions) establishes ‘default interchange fees’ that apply when there are no other established settlement terms in place between an issuer and an acquirer. The company administers the collection and remittance of interchange fees through the settlement process. Additional Four-Party System Fees. The merchant discount rate is established by the acquirer to cover its costs of both participating in the four-party system and providing services to merchants. The rate takes into consideration the amount of the interchange fee which the acquirer generally pays to the issuer. Additionally, acquirers may charge merchants processing and related fees in addition to the merchant discount rate. Issuers may also charge account holders fees for the transaction, including for example, fees for extending revolving credit. Switched Transactions Authorization, Clearing and Settlement. Through the company’s core payment network, the company enables the routing of a transaction to the issuer for its approval, facilitate the exchange of financial transaction information between issuers and acquirers after a successfully conducted transaction, and settle the transaction by facilitating the exchange of funds between parties via settlement banks chosen by the company and its customers. Cross-Border and Domestic. The company’s core payment network switches transactions throughout the world when the merchant country and country of issuance are different (‘cross-border transactions’), providing account holders with the ability to use, and merchants to accept, the company’s products and services across country borders. The company also provides switched transaction services to customers where the merchant country and the country of issuance are the same (‘domestic transactions’). The company switches over 65% of all transactions for Mastercard and Maestro-branded cards, including nearly all cross-border transactions. The company guarantees the settlement of many of the transactions from issuers to acquirers to ensure the integrity of the company’s core payment network. The company refers to the amount of this guarantee as its settlement exposure. The company does not, however, guarantee payments to merchants by their acquirers or the availability of unspent prepaid account holder account balances. Payment Network Architecture. The company’s core payment network features a globally integrated structure that provides scale for the company’s issuers, enabling them to expand into regional and global markets. It is based largely on a distributed (peer-to-peer) architecture that enables the network to adapt to the needs of each transaction. The network accomplishes this by performing intelligent routing and applying multiple value-added services (such as fraud scoring, tokenization services, etc.) to appropriate transactions in real time. This architecture enables the company to connect all parties regardless of where or how the transaction is occurring. It has 24-hour a day availability and world-class response time. Account-Based Payments Capabilities The company offers ACH batch and real-time account-based payments capabilities, enabling payments for ACH transactions between bank accounts in real-time. The company’s real-time account-based payments capabilities provide consumers and businesses the ability to make instant (faster) payments while providing enhanced data and messaging capabilities. The company builds, implements, enhances and operates real-time clearing and settlement infrastructure, payment platforms and direct debit systems for jurisdictions globally. As of December 31, 2023, the company either operated or was implementing real-time payments infrastructure in 13 markets. The company also uses its real-time account-based payments capabilities to enable consumers, businesses, governments and merchants to send and receive money directly from account to account. Security and Franchise Payments Ecosystem Security. The company employs a multi-layered approach to help protect the global payments ecosystem, including a robust program designed to protect the company’s network from cyber and information security threats. The company’s network and platforms incorporate multiple layers of protection, providing greater resiliency and security protection. The company’s programs are assessed by third parties and incorporate benchmarking and other data from peer companies and consultants. The company engages in many efforts to mitigate information security challenges, including maintaining an information security program, an enterprise resilience program and insurance coverage, as well as regularly testing the company’s systems to address potential vulnerabilities. The company works with experts across the organization (as well as through other sources such as public-private partnerships) to monitor and respond quickly to a range of cyber and physical threats, including threats and incidents associated with the use of services provided by third-party providers. As another feature of the company’s multi-layered approach, the company works with issuers, acquirers, merchants, governments and payments industry associations to develop and put in place technical standards (such as EMV standards for chips and smart payment cards) for safe and secure transactions and the company provides solutions and products that are designed to help provide safety and security for the global payments ecosystem. The company’s approach includes supporting small businesses by sharing best practices and providing access to free utilities and services, benefiting both them and the entire payments ecosystem. Franchise. The company manages an ecosystem of stakeholders that participate in the company’s global payments network, setting standards and rules for all participants and aiming to ensure interoperability among them while balancing risk and value across all stakeholders. The company’s franchise model achieves this by creating and sustaining a comprehensive series of value exchanges across the company’s ecosystem. Through the company’s franchise model, the company works to ensure a balanced ecosystem where all participants may benefit from the availability, innovation, safety and security of its network. The company achieves this goal through the following key activities: Participant Onboarding. The company determines that each new customer meets the necessary prerequisites to use and contribute to the company’s network by defining clear ecosystem roles and responsibilities for their operations. Operating Standards. The company defines the technical, operational and financial standards that all network participants are required to uphold. Safety and Security. The company establishes central principles, including safeguarding consumer protections and integrity, so participants feel confident to transact on the network. Responsible Stewardship. The company sets performance standards to support ecosystem optimization and growth and use proactive monitoring to both ensure participant adherence to operating standards and protect the integrity of the ecosystem. Issue Resolution. The company operates a framework to address disputes between its network participants. Payment Products and Applications The company provides a wide variety of products and services that support payment products that customers can offer to consumers and merchants. These offerings facilitate transactions across the company’s multi-rail payments network and platforms among account holders, merchants, financial institutions, digital partners, businesses, governments and other organizations in markets globally. Consumer Payment Products Consumer Credit. The company offers products that enable issuers to provide consumers with credit, allowing them to defer payment. These programs are designed to meet the needs of the company’s customers around the world and address standard, premium and affluent consumer segments. Consumer Debit. The company supports a range of payment products and solutions that allow its customers to provide consumers with convenient access to funds in deposit and other accounts. The company’s debit and deposit access programs can be used to make purchases and to obtain cash from bank branches, at ATMs and, in some cases, at the point of sale. The company’s branded debit programs consist of Mastercard (including standard, premium and affluent offerings), Maestro (the company’s PIN-based solution that operates globally) and Cirrus (the company’s primary global cash access solution). Prepaid. Prepaid accounts are a type of electronic payment that enables consumers to pay from pre-funded accounts whether or not they previously had a bank account or a credit history. These accounts can be tailored to meet specific program, customer or consumer needs, such as paying bills, sending person-to-person payments or withdrawing cash from an ATM. The company’s focus ranges from digital accounts (such as fintech and gig economy platforms) to business programs, such as employee payroll, health savings accounts and solutions for small business owners. The company’s prepaid programs also offer opportunities in the private and public sectors to drive financial inclusion of previously unbanked individuals through social security payments, unemployment benefits and salary cards. New Payment Flows The company offers platforms, products and applications that apply its multi-rail payment capabilities to capture new payment flows, enabling the company to serve the needs of a significant addressable market. Commercial Point of Sale. The company offers commercial credit, debit and prepaid payment products and solutions that meet the payment needs of large corporations, midsize companies, small businesses and government entities. The company’s solutions streamline procurement and payment processes, manage information and expenses (such as travel and entertainment) and reduce administrative costs. The company’s point-of-sale offerings include: Small business cards (credit, debit and prepaid) tailored to small and medium businesses. Commercial travel and entertainment, procurement and fleet cards, consisting mostly of credit cards and associated platforms for corporations to manage travel and expense, procurement and fleet expenses. The company’s Mastercard Smart Data platform provides expense management and reporting capabilities. B2B Accounts Payable. The company offers solutions that enable businesses or governments to make payments to businesses with whom they have a trusted relationship for goods and services. The company’s solutions include Virtual Card Number (VCN), which is generated dynamically from a physical card and leverages the credit limit of the funding account. The company’s VCN solution may include the use of Mastercard InControl, the company’s virtual card platform that allows buyers to pay suppliers using a one-time use card number that can be set with transaction level controls, providing unmatched configurability and flexibility. Additionally, the company offers a platform to optimize supplier payment enablement campaigns for financial institutions, as well as the company’s treasury intelligence platform that provides corporations with recommendations to improve working capital performance and accelerate spend on cards. Disbursements and Remittances. The company offers applications that enable consumers, businesses, governments and merchants to send and receive money domestically and across borders with greater speed and ease, with a payout reach of approximately 10 billion endpoints globally across multiple channels, and in more than 180 markets and 150 currencies. Using Mastercard Send, the company partners with digital messaging and payment platforms to enable consumers to send money directly within applications to other consumers. The company partners with central banks, fintechs and financial institutions to help governments and nonprofits more efficiently enable, as applicable, distribution of social and economic assistance and business-to-consumer (‘B2C’) disbursements across various use cases (such as wallet funding, cash payouts, gig worker payouts and insurance claims). Mastercard Cross-Border Services enables a wide range of payment flows and use cases to customers (including trade payments, remittances and disbursements). These flows are enabled via a distribution network with a single point of access that allows financial institutions, fintechs and digital partners to send and receive money globally through multiple channels, including bank accounts, mobile wallets, cards and cash payouts. Consumer Bill Payments. The company’s solutions enable consumers and small businesses to pay their billers in a seamless and secure way. Leveraging the company’s merchant acceptance network (which includes many billers), the company offers consumers the choice of paying their bills in a convenient and secure manner using credit, debit or prepaid. The company also offers the choice of account-based payments methods. As a result, these solutions provide an experience that offers flexibility and benefits consumers, financial institutions and billers. Payments Innovation The company’s innovation capabilities and its technology provide resiliency, scalability and flexibility in how the company serves customers and in turn helps them benefit consumers. They enable broader reach to scale digital payment services across multiple channels. The company’s technology standards, services and governance model help the company to serve as the connection that allows financial institutions, fintechs and technology companies to interoperate and enable consumers, businesses, governments and merchants to engage through digital channels. Delivering Better Digital Experiences Everywhere. The company uses its technologies and security protocols to develop solutions to make digital shopping and selling experiences, such as on smartphones and other connected devices, simpler, faster and safer for both consumers and merchants. The company also offers products that make it easier for merchants to accept payments and expand their customer base. The company’s contactless payment solutions help deliver a simple and intuitive way to pay. The company’s Mastercard Digital First program enables customers to offer their cardholders a fully digital payment experience with an optional physical card, meeting cardholder expectations of immediacy, safety and convenience during card application, authentication and instant card access, securing purchases (whether contactless, in-store, in-app or via the web) and managing alerts, controls and benefits. The company’s Click to Pay checkout experience is designed to provide consumers the same convenience and security in a digital environment that they have when paying in a store, make it easier for merchants to implement secure digital payments and provide issuers with improved fraud detection and prevention capabilities. This experience is based on the EMV Secure Remote Commerce industry standard that enables a faster, more secure checkout experience across web and mobile sites, mobile apps and connected devices. The company’s Tap on Phone acceptance technology enables businesses of all sizes to accept payments from any contactless card or mobile wallet directly from their NFC-enabled device, providing a turnkey and cost-effective solution without any additional hardware required. Securing More Transactions. The company leverages tokenization, biometrics and machine learning technologies in the company’s push to secure every transaction. These efforts include driving EMV-level security and benefits through all the company’s payment channels. Creating Solutions to Support Blockchain-Based Digital Currencies. Through a principled approach (including applying prudent risk management practices and maintaining continuous monitoring of the company’s partners that are active in the digital asset market), Mastercard is focused on supporting digital currencies by: Providing identity, cyber and consulting services for market participants (including the company’s identity and biometric solutions, cybersecurity solutions, crypto analytics, transaction monitoring and anti-money laundering detection capabilities), as well as engaging with central banks as they design and develop central bank digital currencies. Helping consumers safely and easily purchase cryptocurrencies and non-fungible tokens (‘NFTs’), as well as enabling consumers to spend their converted crypto holdings on Mastercard card offerings and cash out their crypto wallets using Mastercard Send. Simplifying Access To, and Integration Of, the company’s Digital assets. The company’s Mastercard Developer platform makes it easy for customers and partners to leverage the company’s many digital assets and services. By providing a single access point with tools and capabilities to find APIs across a broad range of Mastercard services, the company enables easy integration of its services into new and existing solutions. Identifying and Experimenting With Future Technologies, Start-ups and Trends. Through Mastercard Foundry, the company continues to provide customers and partners access to thought leadership, innovation methodologies, new technologies and relevant early-stage fintech players. Value-Added Services The company’s services encompass a wide-ranging portfolio of value-added and differentiating capabilities that instill trust in the ecosystem to allow parties to transact and operate with confidence; provide actionable insights to the company’s customers to assist in their decision making; enable the company’s customers to strengthen their engagement with their own end users; and enable connectivity and access for a fragmented and diverse set of parties. Cyber and Intelligence Solutions As part of the security the company brings to the payments ecosystem, the company offers products and services designed to prevent, detect and respond to fraud and cyber-attacks and to ensure the safety of transactions made using Mastercard and non-Mastercard products. The company does this using a multi-layered safety and security strategy: The ‘Prevent’ layer is designed to protect against attacks on infrastructure, devices and data. The company has continued to grow global usage of EMV chip and contactless security technology, helping to reduce fraud. The company’s solutions include Mastercard SafetyNet, which protects financial institutions by helping to stop real-time attacks that are visible in the network, but not easily detected by financial institutions. The ‘Identify’ layer allows the company to help banks and merchants verify the authenticity of consumers during the payment process using various biometric technologies, including fingerprint, face and iris scanning, and behavioral user data assessment technology to verify online purchases on mobile devices, as well as a card with biometric technology built in. The ‘Detect’ layer is designed to both spot and take action to stop fraudulent behavior and cyber-attacks once detected. The company’s offerings include alerts when accounts are exposed to data breaches or security incidents, fraud scoring technology that scans billions of dollars of money flows each day while increasing approvals and reducing false declines, and network-level monitoring on a global scale to help detect the occurrence of widespread fraud attacks when the customer (or their processor) may be unable to detect or defend against them. The ‘Experience’ layer is designed to improve the security experience for the company’s stakeholders in areas from the speed of transactions (enhancing approvals for online and card-on-file payments) to the ability to differentiate legitimate consumers from fraudulent ones. The company’s offerings include solutions for consumer alerts and controls and a suite of digital token services. The company also offers an e-commerce fraud and dispute management network that enables merchants to stop delivery when a fraudulent or disputed transaction is identified, and issuers to refund the cardholder to avoid the chargeback process. The ‘Network’ layer extends the services the company provides to transactions in the payments ecosystem and across all of the company’s rails, including decision intelligence and tokenization capabilities, to help secure the company’s customers and transactions on a real-time basis. Moreover, the company uses its AI and data analytics, along with the company’s cyber risk assessment capabilities, to help enable financial institutions, merchants, corporations and governments to secure their digital assets across each of these five layers. The company has also worked with its customers to provide products to consumers globally with increased confidence through the benefit of ‘zero liability’, where the consumer bears no responsibility for counterfeit or lost card losses in the event of fraud. Data and Services Solutions Insights and Analytics. The company’s capabilities incorporate payments expertise and analytical and executional skills to create end-to-end solutions which are increasingly delivered via platforms embedded in the company’s customers’ day-to-day operations. The company offers business intelligence to monitor key performance indicators (‘KPIs’) and benchmark performance through self-service digital platforms, tools, and reports for financial institutions, merchants and others. The company enables customers to better understand consumer behavior and improve segmentation and targeting by using the company’s anonymized and aggregated data assets, third-party data and AI technologies. The company also helps its customers accurately measure the impact of their decisions and improve them by leveraging data analytics to conduct disciplined business experiments for in-market tests to drive more profitable decision making. Consulting and Innovation. The company provides advisory services that help customers make better decisions and improve performance. By observing patterns of payments behavior based on billions of transactions switched globally, the company is able to leverage anonymized and aggregated information to provide advice based on data. The company also utilizes its expertise, digital technology, innovation tools, methodologies and processes to collaborate with, and increasingly drive innovation at, financial institutions, merchants and governments. Through the company’s global innovation and development arm, Mastercard Foundry, the company offers customized innovation programs and concept design. The company continues to innovate and expand its offerings to help businesses evolve and expand their growth enterprise-wide. The company’s services include consulting and innovation offerings dedicated to open banking, open data, crypto and digital currencies and ESG matters. Marketing Services. The company delivers marketing services, digital implementation and program management with performance-based solutions at every stage of the consumer lifecycle to assist its customers in implementing actions based on insights and driving adoption and usage. These services include developing messaging, targeting key groups, launching campaigns and training staff, all of which help the company’s customers drive engagement and portfolio profitability. Issuer and Merchant Loyalty. The company has built a scalable rewards platform that enables issuers to provide consumers with a variety of benefits and services, such as personalized offers and rewards, access to a global airport lounge network, concierge services, insurance services, emergency card replacement, emergency cash advances and a 24-hour account holder service center. For merchants, the company provides campaigns with targeted offers and rewards, management services for publishing offers, and accelerated points programs for co-brand and rewards program members. The company also provides a loyalty platform that enables stronger relationships with retailers, restaurants, airlines and consumer packaged goods companies by creating experiences that drive loyalty and impactful consumer engagement. Processing and Gateway The company extend the company’s processing capabilities in the payments value chain in various regions with an expanded suite of offerings, including: Issuer solutions designed to provide customers with a complete processing solution to help them create differentiated products and services and allow quick deployment of payments portfolios across banking channels. Payment gateways that offer a single interface to provide e-commerce merchants with the ability to process secure online and in-app payments and offer value-added solutions, including outsourced electronic payments, fraud prevention and alternative payment options. Mobile gateways that facilitate transaction routing and processing for mobile-initiated transactions New Network Capabilities Open Banking The company offers an open banking platform that enables data providers and third parties, on a permissioned basis, to reliably access, securely transmit and confidently manage consumer and small business data to improve the customer experience. The company’s platform enables individuals to have choice of financial services, providing them the ability to access, control and benefit from the use of their data, as well as an improved payment experience. The company’s platform is also used to serve the needs of the lending market, including through streamlining loan application processes and improving credit decisioning, thereby driving further financial inclusion. The network connections that underpin this platform leverage the company’s data responsibility principles (including data usage guardrails, consumer protection and consent management), as well as API technology. Digital Identity The company enables digital identity solutions, which provide seamless digital experiences and strengthen and secure digital payments across individuals, devices and accounts. The company’s digital identity capabilities focus on the identity of people, devices and transactions. They embody Privacy by Design principles and are consent-centric. The company’s solutions include device intelligence and behavioral biometrics (to determine whether the user is genuine or a fraudulent device), document proofing, IP intelligence, biometrics, transaction fraud data (from which the company derives insights that can be used to significantly improve the global approval rate of transactions), location, identity attributes and payment authorization. Brand The company’s family of well-known brands includes Mastercard, Maestro and Cirrus. The company manages and promotes its brands and brand identities through advertising, promotions and sponsorships, as well as digital, mobile and social media initiatives, in order to increase people’s preference for the company’s brands and usage of its products. The company sponsors a variety of sporting, entertainment and charity-related marketing properties to align with consumer segments important to the company and its customers. The company’s advertising plays an important role in building brand visibility, preference and overall usage among account holders globally. The company’s ‘Priceless’ advertising campaign, which has run in more than 50 languages and in more than 120 countries worldwide, promotes Mastercard usage benefits and acceptance, markets Mastercard payment products and solutions and provides Mastercard with a consistent, recognizable message that supports the company’s brand around the globe. Data The company creates a range of products and services for its customers (including the majority of the company’s value-added services) that use its data assets, infrastructure, expertise and platforms. These products and services are designed to help reduce fraud, increase security, provide actionable insights to the company’s customers to assist in their decision-making and enable the company’s customers to increase their engagement with consumers. The company does all this while following its data and tech responsibility principles in how the company designs, implements and delivers those solutions. Revenue Sources Mastercard is a payments network service provider that generates revenue from a wide range of payment solutions the company provides to its customers. The company classifies its net revenues, which includes the impact of rebates and incentives, from contracts with customers into two categories: payment network and value-added services and solutions. Within the company’s payment network, revenue is primarily generated from charging fees to the company’s customers based on GDV (which includes both domestic and cross-border volume) on the cards that carry the company’s brands and for providing switching and other network-related services. Within the company’s value-added services and solutions, the company generates revenue primarily related to the following: cyber and intelligence solutions; data and services solutions; ACH batch and real-time account-based domestic and cross-border payments and solutions; processing and gateway; open banking solutions; and digital identity solutions. Intellectual Property The company owns a number of valuable trademarks that are essential to its business, including Mastercard, Maestro and Cirrus, through one or more affiliates. Competition General Purpose Payments Networks. The company competes worldwide with payments networks, such as Visa, American Express, JCB, China UnionPay and Discover, among others. Government Regulation The company is subject to anti-money laundering (‘AML’) and countering the financing of terrorism (‘CFT’) laws and regulations globally, including the U.S. Bank Secrecy Act and the USA PATRIOT Act, as well as the various economic sanctions programs, including those imposed and administered by the U.S. Office of Foreign Assets Control (‘OFAC’). The company is also subject to anti-corruption laws and regulations globally, including the U.S. Foreign Corrupt Practices Act and the U.K. Bribery Act, which, among other things, generally prohibit giving or offering payments or anything of value for the purpose of improperly influencing a business decision or to gain an unfair business advantage. The company has implemented policies, procedures and internal controls to proactively manage corruption risk. Aspects of the company’s operations or business are subject to increasingly complex and fragmented privacy, data and information security laws and regulations in the U.S., the EU and elsewhere around the world. For example, in the U.S., the company and its customers are respectively subject to, among other laws and regulations, Federal Trade Commission and federal banking agency information safeguarding requirements under the Gramm-Leach-Bliley Act (‘GLBA’) that require, among other things, the maintenance of a written, comprehensive information security program and, increasingly, a number of state data and privacy laws. In the EU, the company is subject to the General Data Protection Regulation (the ‘GDPR’) and its equivalent in the U.K., which requires, among other things, a comprehensive privacy, data protection and information security program to protect the personal and sensitive data of EEA residents. History MasterCard Incorporated was founded in 1966. The company was incorporated as a Delaware corporation in 2001.

Country
Industry:
Functions Related to Depository Banking, Not Elsewhere Classified
Founded:
1966
IPO Date:
05/25/2006
ISIN Number:
I_US57636Q1040
Address:
2000 Purchase Street, Purchase, New York, 10577, United States
Phone Number
914 249 2000

Key Executives

CEO:
Miebach, Michael
CFO
Mehra, Sachin
COO:
Data Unavailable