Mastercard Inc (MA) Risk Factors

Recent key developments

Concrete developments — dated events, named agreements and instruments, legal proceedings — that Mastercard Inc surfaced in its latest filing.

• Court approval in July 2023 advanced the selling restriction date for Mastercard Foundation from May 1, 2027 to January 1, 2024.July 2023
• Mastercard Foundation began selling shares in March 2024 under a seven-year diversification plan.March 2024
• Brazil recently enacted regulation requiring payment scheme operators in Brazil, including Mastercard and Visa, to extend their responsibility for financial and settlement integrity of payments to merchants.
• Russia's invasion of Ukraine led to suspension of business operations in Russia.
• The Rules Relief Class settlement described in Note 19 may impose future limitations on business practices.
• Changes to the no-surcharge rule in the U.S. and Canada were imposed as a result of litigation settlements.
• U.K. regulators designated Vocalink as a specified service provider.
• In several jurisdictions, Mastercard has been designated as a 'systemically important payment system'.
• Parts of Mastercard's business have been deemed a 'specified service provider' or considered 'critical infrastructure'.
• Defendant in civil litigations and regulatory proceedings alleging violations of competition and antitrust law.
• Defendant in civil litigations and regulatory proceedings involving intellectual property claims.
• G20 Financial Stability Board targets related to cross-border payments could lead to regulation of interregional interchange fees.
• EU Payment Services Directive strong authentication requirements in the EEA could increase transaction abandonment.
• Organization for Economic Co-operation and Development (OECD) guidelines impact how multinational enterprises are taxed on their global profits.
• U.S. Foreign Corrupt Practices Act and U.K. Bribery Act compliance obligations apply.
• OFAC economic sanctions programs restrict financial transactions and dealings with certain countries, geographies, persons, and entities.
• Approximately 71% of revenue in 2025 was generated from activities outside the U.S.2025