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 advanced the share sale restriction date for Mastercard Foundation from May 1, 2027 to January 1, 2024.January 1, 2024
• In March 2024, Mastercard Foundation began selling shares under a structured seven-year diversification plan.March 2024
• Acquisition of Recorded Future exposes us to global cybercrime and other laws.
• We are subject to the EU AI Act.
• In the U.K., Vocalink business aspects are overseen by the Bank of England under the U.K. payment system oversight regime.
• U.K. regulators designated Vocalink as a 'specified service provider'.
• The Rules Relief Class settlement, as described in Note 19, has resulted in business limitations.
• Changes to our no-surcharge rule in the U.S. and Canada have been imposed due to litigation and litigation settlements.
• Brazil enacted regulation requiring PSOs, including Mastercard, to extend their responsibility for the financial and settlement integrity of payments to merchants.
• Our no-surcharge rules now permit U.S. and Canadian merchants to surcharge credit cards with certain limitations.
• During 2025, approximately 71% of our revenue was generated from activities outside the U.S.2025
• We are a defendant in civil litigations and regulatory proceedings alleging violations of competition and antitrust law and involving intellectual property claims, as described in Note 19.
• The U.S. merchant litigations are referenced as existing legal challenges to interchange fees.
• Our compliance with sanctions and suspension of business operations in Russia has led to fines, nationalization of our subsidiary and resulting impacts, and lawsuits.
• Mastercard Foundation may not share the same short- or medium-term interests as other stockholders regarding stock price or corporate actions.