MASTERCARD INC, 10-Q filed on 10/29/2026
Quarterly Report
v3.26.3
Cover - shares
 9 Months Ended
Sep. 30, 2026
Oct. 26, 2026
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Sep. 30, 2026  
Document Transition Report false  
Entity File Number 001-32877  
Entity Registrant Name Mastercard Incorporated  
Entity Incorporation, State or Country Code DE  
Entity Tax Identification Number 13-4172551  
Entity Address, Address Line One 2000 Purchase Street  
Entity Address, Postal Zip Code 10577  
Entity Address, City or Town Purchase,  
Entity Address, State or Province NY  
City Area Code 914  
Local Phone Number 249-2000  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Central Index Key 0001141391  
Current Fiscal Year End Date --12-31  
Document Fiscal Year Focus 2026  
Document Fiscal Period Focus Q3  
Amendment Flag false  
Class A Common Stock    
Title of 12(b) Security Class A Common Stock, par value $0.0001 per share  
Trading Symbol MA  
Security Exchange Name NYSE  
Entity Common Stock, Shares Outstanding   864,657,109
2.1% Notes due 2027    
Title of 12(b) Security 2.1% Notes due 2027  
Trading Symbol MA27  
Security Exchange Name NYSE  
1.0% Notes due 2029    
Title of 12(b) Security 1.0% Notes due 2029  
Trading Symbol MA29A  
Security Exchange Name NYSE  
2.5% Notes due 2030    
Title of 12(b) Security 2.5% Notes due 2030  
Trading Symbol MA30  
Security Exchange Name NYSE  
Class B Common Stock    
Entity Common Stock, Shares Outstanding   6,519,005
v3.26.3
Consolidated Statements of Operations - USD ($)
shares in Millions, $ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
Income Statement [Abstract]        
Net Revenue $ 9,807 $ 8,602 $ 27,482 $ 23,985
Operating Expenses:        
General and administrative 3,293 2,923 9,414 8,212
Advertising and marketing 252 245 622 610
Depreciation and amortization 326 290 934 846
Provision for litigation 74 83 156 330
Total operating expenses 3,945 3,541 11,126 9,998
Operating income 5,862 5,061 16,356 13,987
Other Income (Expense):        
Investment income 88 81 257 239
Gains (losses) on equity investments, net (5) 41 (73) 16
Interest expense (250) (186) (653) (563)
Other income (expense), net 46 2 152 23
Total other income (expense) (121) (62) (317) (285)
Income before income taxes 5,741 4,999 16,039 13,702
Income tax expense 1,113 1,072 3,141 2,794
Net Income $ 4,628 $ 3,927 $ 12,898 $ 10,908
Basic Earnings per Share (in dollars per share) $ 5.29 $ 4.35 $ 14.61 $ 12.02
Basic weighted-average shares outstanding (in shares) 875 903 883 908
Diluted Earnings per Share (in dollars per share) $ 5.28 $ 4.34 $ 14.59 $ 12.00
Diluted weighted-average shares outstanding (in shares) 876 905 884 909
v3.26.3
Consolidated Statements of Comprehensive Income - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
Statement of Comprehensive Income [Abstract]        
Net income $ 4,628 $ 3,927 $ 12,898 $ 10,908
Other comprehensive income (loss):        
Foreign currency translation adjustments 30 (62) (38) 625
Income tax effect 0 12 6 (44)
Foreign currency translation adjustments, net of income tax effect 30 (50) (32) 581
Translation adjustments on net investment hedges 8 (2) 72 (210)
Income tax effect (2) 0 (16) 46
Translation adjustments on net investment hedges, net of income tax effect 6 (2) 56 (164)
Cash flow hedges 5 34 111 (314)
Income tax effect 2 (1) (3) 21
Reclassification adjustments for cash flow hedges (29) 8 (136) 382
Income tax effect (1) (4) (6) (8)
Cash flow hedges, net of income tax effect (23) 37 (34) 81
Investment securities available-for-sale (4) (1) (4) 0
Income tax effect 1 0 1 0
Investment securities available-for-sale, net of income tax effect (3) (1) (3) 0
Other comprehensive income (loss), net of income tax effect 10 (16) (13) 498
Comprehensive Income $ 4,638 $ 3,911 $ 12,885 $ 11,406
v3.26.3
Consolidated Balance Sheets - USD ($)
$ in Millions
Sep. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 10,147 $ 10,566
Restricted cash and restricted cash equivalents 564 561
Restricted security deposits held for customers 2,231 2,121
Investments 317 332
Accounts receivable 5,258 4,609
Settlement assets 1,593 1,626
Prepaid expenses and other current assets 4,370 3,743
Total current assets 24,480 23,558
Property, equipment and right-of-use assets, net of accumulated depreciation and amortization of $2,883 and $2,756, respectively 2,642 2,303
Deferred income taxes 1,573 1,567
Goodwill 10,804 9,560
Other intangible assets, net of accumulated amortization of $3,502 and $3,096, respectively 5,704 5,554
Other assets 12,946 11,615
Total Assets 58,149 54,157
Current liabilities:    
Accounts payable 1,083 999
Settlement obligations 2,151 2,409
Restricted security deposits held for customers 2,231 2,121
Accrued litigation 262 800
Accrued expenses 13,950 13,272
Short-term debt 1,749 749
Other current liabilities 2,770 2,412
Total current liabilities 24,196 22,762
Long-term debt 22,189 18,251
Deferred income taxes 341 307
Other liabilities 4,683 5,091
Total Liabilities 51,409 46,411
Commitments and Contingencies
Stockholders’ Equity    
Additional paid-in-capital 7,308 6,907
Class A treasury stock, at cost, 541 and 518 shares, respectively (95,201) (83,224)
Retained earnings 95,640 85,035
Accumulated other comprehensive income (loss) (994) (981)
Mastercard Incorporated Stockholders' Equity 6,753 7,737
Non-controlling interests (13) 9
Total Equity 6,740 7,746
Total Liabilities and Equity 58,149 54,157
Class A Common Stock    
Stockholders’ Equity    
Common stock 0 0
Class B Common Stock    
Stockholders’ Equity    
Common stock $ 0 $ 0
v3.26.3
Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Millions
Sep. 30, 2026
Dec. 31, 2025
Accumulated depreciation and amortization $ 2,883 $ 2,756
Other intangible assets, accumulated amortization $ 3,502 $ 3,096
Class A treasury stock (in shares) 541,000,000 518,000,000
Class A Common Stock    
Common stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Common stock, authorized (in shares) 3,000,000,000 3,000,000,000
Common stock, issued (in shares) 1,407,000,000 1,406,000,000
Common stock, outstanding (in shares) 866,000,000 887,000,000
Class B Common Stock    
Common stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Common stock, authorized (in shares) 1,200,000,000 1,200,000,000
Common stock, issued (in shares) 7,000,000 7,000,000
Common stock, outstanding (in shares) 7,000,000 7,000,000
v3.26.3
Consolidated Statements of Changes in Equity - USD ($)
$ in Millions
Total
Common Stock
Class A
Common Stock
Class B
Additional Paid-In Capital
Class A Treasury Stock
Retained Earnings
Accumulated Other Comprehensive Income (Loss)
Mastercard Incorporated Stockholders’ Equity
Non- Controlling Interests
Balance at beginning of period at Dec. 31, 2024 $ 6,515 $ 0 $ 0 $ 6,442 $ (71,431) $ 72,907 $ (1,433) $ 6,485 $ 30
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net income 10,908         10,908   10,908  
Activity related to non-controlling interests (15)               (15)
Other comprehensive income (loss) 498           498 498  
Dividends (2,063)         (2,063)   (2,063)  
Purchases of treasury stock (8,265)       (8,265)     (8,265)  
Share-based payments 341     315 26     341  
Balance at end of period at Sep. 30, 2025 7,919 0 0 6,757 (79,670) 81,752 (935) 7,904 15
Balance at beginning of period at Jun. 30, 2025 7,874 0 0 6,562 (76,299) 78,509 (919) 7,853 21
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net income 3,927         3,927   3,927  
Activity related to non-controlling interests (6)               (6)
Other comprehensive income (loss) (16)           (16) (16)  
Dividends (684)         (684)   (684)  
Purchases of treasury stock (3,371)       (3,371)     (3,371)  
Share-based payments 195     195 0     195  
Balance at end of period at Sep. 30, 2025 7,919 0 0 6,757 (79,670) 81,752 (935) 7,904 15
Balance at beginning of period at Dec. 31, 2025 7,746 0 0 6,907 (83,224) 85,035 (981) 7,737 9
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net income 12,898         12,898   12,898  
Activity related to non-controlling interests (22)               (22)
Other comprehensive income (loss) (13)           (13) (13)  
Dividends (2,293)         (2,293)   (2,293)  
Purchases of treasury stock (12,010)       (12,010)     (12,010)  
Share-based payments 434     401 33     434  
Balance at end of period at Sep. 30, 2026 6,740 0 0 7,308 (95,201) 95,640 (994) 6,753 (13)
Balance at beginning of period at Jun. 30, 2026 5,606 0 0 7,070 (92,226) 91,771 (1,004) 5,611 (5)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net income 4,628         4,628   4,628  
Activity related to non-controlling interests (8)               (8)
Other comprehensive income (loss) 10           10 10  
Dividends (759)         (759)   (759)  
Purchases of treasury stock (2,976)       (2,976)     (2,976)  
Share-based payments 239     238 1     239  
Balance at end of period at Sep. 30, 2026 $ 6,740 $ 0 $ 0 $ 7,308 $ (95,201) $ 95,640 $ (994) $ 6,753 $ (13)
v3.26.3
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Operating Activities    
Net income $ 12,898 $ 10,908
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization of customer incentives 2,030 1,526
Depreciation and amortization 934 846
(Gains) losses on equity investments, net 73 (16)
Share-based compensation 525 485
Deferred income taxes (9) 77
Other 141 99
Changes in operating assets and liabilities:    
Accounts receivable (661) (264)
Settlement assets 32 (14)
Prepaid expenses (4,688) (2,939)
Accrued litigation and legal settlements (537) (4)
Restricted security deposits held for customers 126 180
Accounts payable 95 (28)
Settlement obligations (258) 102
Accrued expenses 1,660 658
Net change in other assets and liabilities (502) 1,030
Net cash provided by operating activities 11,859 12,646
Investing Activities    
Purchases of investment securities available-for-sale (265) (385)
Purchases of investments held-to-maturity 0 (28)
Proceeds from sales of investment securities available-for-sale 94 192
Proceeds from maturities of investment securities available-for-sale 139 183
Proceeds from maturities of investments held-to-maturity 13 46
Purchases of property and equipment (667) (377)
Capitalized software (474) (548)
Acquisition of businesses, net of cash acquired (1,372) 0
Other investing activities (71) (24)
Net cash used in investing activities (2,603) (941)
Financing Activities    
Purchases of treasury stock (11,893) (8,169)
Dividends paid (2,311) (2,072)
Proceeds from debt, net of discounts 5,596 1,242
Payment of debt (618) (750)
Tax withholdings related to share-based payments (208) (283)
Cash proceeds from employee stock plans 117 139
Other financing activities (108) (100)
Net cash used in financing activities (9,425) (9,993)
Effect of exchange rate changes on cash, cash equivalents, restricted cash and restricted cash equivalents (137) 325
Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents (306) 2,037
Cash, cash equivalents, restricted cash and restricted cash equivalents - beginning of period 13,248 10,808
Cash, cash equivalents, restricted cash and restricted cash equivalents - end of period $ 12,942 $ 12,845
v3.26.3
Summary of Significant Accounting Policies
 9 Months Ended
Sep. 30, 2026
Accounting Policies [Abstract]  
Summary of Significant Accounting Policies Summary of Significant Accounting Policies
Organization
Mastercard Incorporated and its consolidated subsidiaries, including Mastercard International Incorporated (“Mastercard International” and together with Mastercard Incorporated, “Mastercard” or the “Company”), is a technology company in the global payments industry. Mastercard connects consumers, financial institutions, merchants, governments, digital partners, businesses and other organizations worldwide by enabling electronic payments and making those payment transactions secure, simple, smart and accessible.
Consolidation and Basis of Presentation
The consolidated financial statements include the accounts of Mastercard and its majority-owned and controlled entities, including any variable interest entities (“VIEs”) for which the Company is the primary beneficiary. Investments in VIEs for which the Company is not considered the primary beneficiary are not consolidated and are accounted for as marketable, equity method or measurement alternative method investments and recorded in other assets on the consolidated balance sheets. At September 30, 2026 and December 31, 2025, there were no significant VIEs that required consolidation and the investments were not material to the consolidated financial statements. The Company consolidates acquisitions as of the date the Company has obtained a controlling financial interest. Intercompany transactions and balances have been eliminated in consolidation. The Company follows accounting principles generally accepted in the United States of America (“GAAP”).
The balance sheet as of December 31, 2025 was derived from the audited consolidated financial statements as of December 31, 2025. The consolidated financial statements for the three and nine months ended September 30, 2026 and 2025 and as of September 30, 2026 are unaudited, and in the opinion of management, include all normal recurring adjustments that are necessary to present fairly the results for interim periods. The results of operations for the three and nine months ended September 30, 2026 are not necessarily indicative of the results to be expected for the full year.
The accompanying unaudited consolidated financial statements are presented in accordance with the U.S. Securities and Exchange Commission (SEC) requirements for Quarterly Reports on Form 10-Q. Reference should be made to the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 (“2025 Form 10-K”) for additional disclosures, including a summary of the Company’s significant accounting policies.
v3.26.3
Acquisitions
 9 Months Ended
Sep. 30, 2026
Business Combination [Abstract]  
Acquisitions Acquisitions
On August 3, 2026, Mastercard acquired a 100% equity interest in BVNK Holdings Limited (“BVNK”), a provider of stablecoin infrastructure, for total cash consideration of $1.4 billion. The sellers of BVNK have the potential to earn additional contingent consideration of up to $300 million if certain performance targets are met. The net assets acquired primarily relate to intangible assets, including goodwill of $1.3 billion that is primarily attributable to the synergies expected to arise after the acquisition date. None of the goodwill is expected to be deductible for local tax purposes. This acquisition is expected to expand Mastercard’s capabilities to support the digital assets ecosystem.
The Company is evaluating and finalizing the purchase accounting. Refer to Note 1 (Summary of Significant Accounting Policies) to the consolidated financial statements included in Part II, Item 8 of the Company’s 2025 Form 10-K, for the valuation techniques Mastercard utilizes to fair value the respective components of business combinations.
The estimated fair values of the purchase price allocation as of the acquisition date is noted below.
(in millions)
Assets:
Cash and cash equivalents$13 
Prepaid expenses and other current assets27 
Goodwill1,271 
Other intangible assets, net363 
Other assets32 
Total assets1,706 
Liabilities:
Other current liabilities11 
Other liabilities139 
Total liabilities150 
Net assets acquired$1,556 
The following table summarizes the identified intangible assets acquired:
Acquisition Date Fair ValueWeighted-Average Useful Life
(in millions)(in years)
Developed technologies$238 9.0
Customer relationships125 14.0
Other intangible assets, net$363 10.7
Proforma information related to the acquisition was not included because the impact on the Company's consolidated results of operations was not considered to be material.
v3.26.3
Revenue
 9 Months Ended
Sep. 30, 2026
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
The Company’s disaggregated net revenue by category and geographic region were as follows:
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
(in millions)
Net revenue by category:
Payment network$5,749 $5,179 $16,148 $14,556 
Value-added services and solutions4,058 3,423 11,334 9,429 
Net revenue$9,807 $8,602 $27,482 $23,985 
Net revenue by geographic region:
Americas 1
$4,190 $3,651 $11,754 $10,207 
Asia Pacific, Europe, Middle East and Africa
5,617 4,951 15,728 13,778 
Net revenue$9,807 $8,602 $27,482 $23,985 
1Americas includes the United States, Canada and Latin America.
The Company’s customers are generally billed weekly, with certain billings occurring on a monthly and quarterly basis. The frequency of billing is dependent upon the nature of the performance obligation and the underlying contractual terms. The Company does not typically offer extended payment terms to customers. The following table sets forth the location of the amounts recognized on the consolidated balance sheets from contracts with customers:
September 30,
2026		December 31,
2025
(in millions)
Receivables from contracts with customers
Accounts receivable
$4,330 $4,010 
Contract assets
Prepaid expenses and other current assets161 189 
Other assets564 508 
Deferred revenue 1
Other current liabilities1,511 1,137 
Other liabilities329 424 
1    Revenue recognized from performance obligations satisfied for the three and nine months ended September 30, 2026 was $1,112 million and $2,831 million, respectively.
v3.26.3
Earnings Per Share
 9 Months Ended
Sep. 30, 2026
Earnings Per Share [Abstract]  
Earnings Per Share Earnings Per Share
The components of basic and diluted earnings per share (“EPS”) for common shares were as follows:
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
(in millions, except per share data)
Numerator
Net income$4,628 $3,927 $12,898 $10,908 
Denominator
Basic weighted-average shares outstanding875 903 883 908 
Dilutive stock options and stock units1 1 1 1 
Diluted weighted-average shares outstanding 1
876 905 884 909 
Earnings per Share
Basic$5.29 $4.35 $14.61 $12.02 
Diluted$5.28 $4.34 $14.59 $12.00 
Note: Table may not sum due to rounding.
1    For the periods presented, the calculation of diluted EPS excluded a minimal amount of anti-dilutive share-based payment awards.
v3.26.3
Investments
 9 Months Ended
Sep. 30, 2026
Investments, Debt and Equity Securities [Abstract]  
Investments Investments
The Company’s investments on the consolidated balance sheets include both available-for-sale and held-to-maturity debt securities (see Investments section below). The Company’s strategic investments in equity securities of publicly traded and privately held companies are classified within other assets on the consolidated balance sheets (see Equity Investments section below).
Investments
Investments on the consolidated balance sheets consisted of the following:
September 30,
2026		December 31,
2025
(in millions)
Available-for-sale securities
$317 $319 
Held-to-maturity securities 1
— 13 
Total investments $317 $332 
1Held-to-maturity securities represent investments in time deposits that mature within one year. The cost of these securities approximates fair value.
Investment income on the consolidated statements of operations primarily consists of interest income generated from cash, cash equivalents, held-to maturity and available-for-sale investment securities, as well as realized gains and losses on the Company’s investment securities. The realized gains and losses from the sales of available-for-sale securities for the three and nine months ended September 30, 2026 and 2025 were not material.
Available-for-Sale Securities
The Company’s available-for-sale securities consist of corporate securities, government and agency securities and asset-backed securities. Government and agency securities include U.S. government bonds, U.S. government sponsored agency bonds and foreign government bonds that are denominated in the national currency of the issuing country. Corporate and asset-backed securities held at September 30, 2026 and December 31, 2025 primarily carried a credit rating of A- or better. Corporate securities are comprised of commercial paper and corporate bonds. The gross unrealized gains and losses on the available-for-sale securities as of September 30, 2026 and December 31, 2025 were not material and are recorded in other comprehensive income (loss).
The maturity distribution based on the contractual terms of the Company’s available-for-sale investment securities at September 30, 2026 was as follows:
Amortized CostFair Value
(in millions)
Due within 1 year$118 $118 
Due after 1 year through 5 years202 199 
Total$320 $317 
Equity Investments
Included in other assets on the consolidated balance sheets are equity investments with readily determinable fair values (“Marketable securities”) and equity investments without readily determinable fair values (“Nonmarketable securities”). Marketable securities are equity interests in publicly traded companies and are measured using unadjusted quoted prices in their respective active markets. Nonmarketable securities that do not qualify for equity method accounting are measured at cost, less any impairment and adjusted for changes resulting from observable price changes in orderly transactions for the identical or similar investments of the same issuer (“Measurement alternative”).
The following table is a summary of the activity related to the Company’s equity investments:
December 31,
2025		PurchasesSales
Changes in Fair Value 1
Other 2
September 30,
2026
(in millions)
Marketable securities $203 $— $(100)$(45)$(1)$57 
Nonmarketable securities1,502 161 (9)(28)(12)1,614 
Total equity investments $1,705 $161 $(109)$(73)$(13)$1,671 
1Recorded in gains (losses) on equity investments, net on the consolidated statements of operations.
2Primarily translational impact of currency.
The following table sets forth the components of the Company’s Nonmarketable securities:
September 30,
2026		December 31,
2025
(in millions)
Measurement alternative
$1,307 $1,242 
Equity method
307 260 
Total Nonmarketable securities$1,614 $1,502 
The following table summarizes the total carrying value of the Company’s Measurement alternative investments, including cumulative unrealized gains and losses through September 30, 2026:
(in millions)
Initial cost basis
$1,045 
Cumulative adjustments 1:
Upward adjustments529 
Downward adjustments (including impairment)(267)
Carrying amount, end of period$1,307 
1 Includes immaterial translational impact of currency.
The following table summarizes the unrealized gains and losses included in the carrying value of the Company’s Measurement alternative investments and Marketable securities:
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
(in millions)
Measurement alternative investments:
Upward adjustments$13 $25 $14 $31 
Downward adjustments (including impairment)(22)(2)(45)(32)
Marketable securities:
Unrealized gains (losses), net— 14 (50)11 
v3.26.3
Fair Value Measurements
 9 Months Ended
Sep. 30, 2026
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]  
Fair Value Measurements Fair Value Measurements
The Company’s financial instruments are carried at fair value, cost or amortized cost on the consolidated balance sheets. The Company classifies its fair value measurements of financial instruments into a three-level hierarchy (the “Valuation Hierarchy”).
Financial Instruments - Carried at Fair Value
Financial instruments carried at fair value are categorized for fair value measurement purposes as recurring or nonrecurring in nature.
Recurring Measurements
The distribution of the Company’s financial instruments measured at fair value on a recurring basis within the Valuation Hierarchy was as follows:
September 30, 2026December 31, 2025
Quoted Prices
in Active
Markets
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)		TotalQuoted Prices
in Active
Markets
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)		Total
(in millions)
Assets
Investment securities:
Available-for-sale securities 1
$25 $292 $— $317 $20 $299 $— $319 
Derivative instruments 2:
Foreign exchange contracts— 26 — 26 — 35 — 35 
Marketable securities 3:
Equity securities57 — — 57 203 — — 203 
Liabilities
Derivative instruments 2:
Foreign exchange contracts$— $62 $— $62 $— $160 $— $160 
Interest rate contracts — 15 — 15 — 27 — 27 
1The Company’s U.S. government securities are classified within Level 1 of the Valuation Hierarchy as the fair values are based on unadjusted quoted prices for identical assets in active markets. The fair value of the Company’s available-for-sale non-U.S. government and agency securities, corporate securities and asset-backed securities are based on observable inputs such as quoted prices, benchmark yields and issuer spreads for similar assets in active markets and are therefore included in Level 2 of the Valuation Hierarchy.
2The Company’s foreign exchange and interest rate derivative asset and liability contracts measured at fair value are based on observable inputs such as broker quotes for similar derivative instruments. See Note 16 (Derivative and Hedging Instruments) for further details.
3The Company’s Marketable securities are publicly held and fair values are based on unadjusted quoted prices in their respective active markets.
Nonrecurring Measurements
Nonmarketable Securities
The Company’s Nonmarketable securities are recorded at fair value on a nonrecurring basis in periods after initial recognition under the equity method or measurement alternative method. Nonmarketable securities are classified within Level 3 of the Valuation Hierarchy due to the absence of quoted market prices, the inherent lack of liquidity and unobservable inputs used to measure fair value that require management’s judgment. The Company uses discounted cash flows and market assumptions to estimate the fair value of its Nonmarketable securities when certain events or circumstances indicate that impairment may exist. Observable price changes in orderly transactions for identical or similar investments of the same issuer could also result in fair value adjustments. See Note 5 (Investments) for further details.
Financial Instruments - Not Carried at Fair Value
Debt
Debt instruments are carried on the consolidated balance sheets at amortized cost. The Company estimates the fair value of its debt based on either market quotes or observable market data. Debt is classified as Level 2 of the Valuation Hierarchy as it is generally not traded in active markets. At September 30, 2026, the carrying value and fair value of debt was $23.9 billion and $21.9 billion, respectively. At December 31, 2025, the carrying value and fair value of debt was $19.0 billion and $18.0 billion, respectively. See Note 9 (Debt) for further details.
Other Financial Instruments
Certain other financial instruments are carried on the consolidated balance sheets at cost or amortized cost basis, which approximates fair value due to their short-term, highly liquid nature. These instruments include cash and cash equivalents, restricted cash and restricted cash equivalents, restricted security deposits held for customers, time deposits, accounts receivable, settlement assets, accounts payable, settlement obligations and other accrued liabilities.
v3.26.3
Prepaid Expenses and Other Assets
 9 Months Ended
Sep. 30, 2026
Prepaid Expense and Other Assets [Abstract]  
Prepaid Expenses and Other Assets Prepaid Expenses and Other Assets
Prepaid expenses and other current assets consisted of the following:
September 30,
2026		December 31,
2025
(in millions)
Customer incentives
$2,716 $2,531 
Other1,654 1,212 
Total prepaid expenses and other current assets$4,370 $3,743 
Other assets consisted of the following:
September 30,
2026		December 31,
2025
(in millions)
Customer incentives
$8,908 $7,870 
Equity investments1,671 1,705 
Income taxes receivable1,126 1,101 
Other1,241 939 
Total other assets$12,946 $11,615 
v3.26.3
Accrued Expenses
 9 Months Ended
Sep. 30, 2026
Accrued Liabilities, Current [Abstract]  
Accrued Expenses Accrued Expenses
Accrued expenses consisted of the following:
September 30,
2026		December 31,
2025
(in millions)
Customer incentives
$10,333 $9,958 
Personnel costs1,394 1,716 
Income and other taxes1,474 914 
Other749 684 
Total accrued expenses$13,950 $13,272 
As of September 30, 2026 and December 31, 2025, long-term customer incentives included in other liabilities were $2,550 million and $3,041 million, respectively.
v3.26.3
Debt
 9 Months Ended
Sep. 30, 2026
Debt Disclosure [Abstract]  
Debt Debt
Debt consisted of the following:
September 30,
2026		December 31,
2025		Effective
Interest Rate
(in millions)
Senior Notes
2026 USD NotesFloating RateSenior Notes due June 2028$500 $— **
4.325 %Senior Notes due June 20281,250 — 4.499 %
4.425 %Senior Notes due June 20291,150 — 4.561 %
4.600 %Senior Notes due June 20311,350 — 4.704 %
5.000 %Senior Notes due June 2036750 — 5.063 %
2025 USD Notes
Floating Rate
Senior Notes due March 2028
300 300 
**
4.550 %
Senior Notes due March 2028
450 450 4.727 %
4.950 %
Senior Notes due March 2032
500 500 5.063 %
2024 USD Notes
4.100 %
Senior Notes due January 2028
750 750 4.262 %
4.350 %
Senior Notes due January 2032
1,150 1,150 4.446 %
4.550 %
Senior Notes due January 2035
1,100 1,100 4.633 %
4.875 %
Senior Notes due May 2034
1,000 1,000 5.047 %
2023 USD Notes4.875 %Senior Notes due March 2028750 750 5.003 %
4.850 %Senior Notes due March 2033750 750 4.923 %
2022 EUR Notes
1.000 %Senior Notes due February 2029852 882 1.138 %
2021 USD Notes2.000 %Senior Notes due November 2031750 750 2.112 %
1.900 %Senior Notes due March 2031600 600 1.981 %
2.950 %Senior Notes due March 2051700 700 3.013 %
2020 USD Notes3.300 %Senior Notes due March 20271,000 1,000 3.420 %
3.350 %Senior Notes due March 20301,500 1,500 3.430 %
3.850 %Senior Notes due March 20501,500 1,500 3.896 %
2019 USD Notes2.950 %Senior Notes due June 20291,000 1,000 3.030 %
3.650 %Senior Notes due June 20491,000 1,000 3.689 %
2018 USD Notes3.500 %Senior Notes due February 2028500 500 3.598 %
3.950 %Senior Notes due February 2048500 500 3.990 %
2016 USD Notes2.950 %Senior Notes due November 2026750 750 3.044 %
3.800 %Senior Notes due November 2046600 600 3.893 %
2015 EUR Notes
2.100 %Senior Notes due December 2027909 941 2.189 %
2.500 %Senior Notes due December 2030170 176 2.562 %
24,081 19,149 
Less: Unamortized discount and debt issuance costs(128)(122)
Less: Cumulative hedge accounting fair value adjustments 1
(15)(27)
Total debt outstanding23,938 19,000 
Less: Short-term debt 2
(1,749)(749)
Long-term debt$22,189 $18,251 
**The $500 million of Senior Notes due June 2028 and the $300 million of Senior Notes due March 2028 are Floating Rate Notes that bear interest at a floating rate, reset quarterly, equal to the Compounded Secured Overnight Financing Rate (“SOFR”) plus 0.39% and 0.44%, respectively.
1The Company has an interest rate swap that is accounted for as a fair value hedge. See Note 16 (Derivative and Hedging Instruments) for additional information.
2As of September 30, 2026, the 2016 USD Notes due November 2026 and the 2020 USD Notes due March 2027 were classified as short-term debt, net of unamortized discount and debt issuance costs, on the consolidated balance sheets. As of December 31, 2025, the 2016 USD Notes due November 2026 were classified as short-term debt, net of unamortized discount and debt issuance costs, on the consolidated balance sheets.
Senior Notes
In June 2026, the Company issued $5.000 billion principal amount of notes, as described in more detail in the preceding table (the “2026 USD Notes”). The net proceeds from the issuance of the 2026 USD Notes (after deducting the original issue discount, underwriting discount and offering expenses) were $4.978 billion.
The 2026 USD Notes are not subject to any financial covenants, are senior unsecured obligations and rank equally with any future unsecured and unsubordinated indebtedness. At the Company’s option, the notes may be redeemed in whole, or in part, at any time for a specified make-whole amount, with the exception of the Floating Rate Notes.
Commercial Paper Program and Credit Facility
The Company has a commercial paper program (the “Commercial Paper Program”) under which the Company is authorized to issue up to $8 billion in unsecured commercial paper notes with maturities of up to 397 days from the date of issuance. The Commercial Paper Program is available in U.S. dollars.
In conjunction with the Commercial Paper Program, the Company has a committed five-year unsecured $8 billion revolving credit facility (the “Credit Facility”). The Credit Facility is set to expire on November 7, 2030. Borrowings under the Credit Facility are available in U.S. dollars and/or euros. The facility fee under the Credit Facility is determined according to the Company’s credit rating and is payable on the average daily commitment, regardless of usage, per annum. In addition to the facility fee, interest rates on borrowings under the Credit Facility would be based on prevailing market interest rates plus applicable margins that fluctuate based on the Company’s credit rating. The Credit Facility contains customary representations, warranties, affirmative and negative covenants, events of default and indemnification provisions. The Company was in compliance, in all material respects, with the covenants of the Credit Facility at September 30, 2026 and December 31, 2025.
Borrowings under the Commercial Paper Program and the Credit Facility, which may total up to $8 billion, are to be used to provide liquidity for general corporate purposes, including providing liquidity in the event of one or more settlement failures by the Company’s customers. The Company may borrow and repay amounts under the Commercial Paper Program and Credit Facility for business continuity purposes. At September 30, 2026 and December 31, 2025, the Company had no borrowings under the Commercial Paper Program or Credit Facility.
v3.26.3
Stockholders' Equity
 9 Months Ended
Sep. 30, 2026
Equity [Abstract]  
Stockholders' Equity Stockholders' Equity
Dividends
The Company declared quarterly cash dividends on its Class A and Class B common stock as summarized below: 
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
(in millions, except per share data)
Dividends declared per share $0.87 $0.76 $2.61 $2.28 
Total dividends declared$759 $684 $2,293 $2,063 
Common Stock Activity
The following table presents the changes in the Company’s outstanding Class A and Class B common stock:
Three Months Ended September 30,
20262025
Class AClass BClass AClass B
(in millions)
Balance at beginning of period870.7 6.5 899.1 6.7 
Purchases of treasury stock(5.3)— (5.8)— 
Share-based payments0.2 — 0.1 — 
Conversion of Class B to Class A common stock— — — — 
Balance at end of period865.6 6.5 893.4 6.7 
Nine Months Ended September 30,
20262025
Class AClass BClass AClass B
(in millions)
Balance at beginning of period887.3 6.6 906.6 6.8 
Purchases of treasury stock(22.9)— (14.7)— 
Share-based payments1.1 — 1.4 — 
Conversion of Class B to Class A common stock0.1 (0.1)0.1 (0.1)
Balance at end of period865.6 6.5 893.4 6.7 
In December 2025 and 2024, the Company’s Board of Directors approved programs authorizing the Company to repurchase shares of its Class A common stock up to $14.0 billion and $12.0 billion, respectively. The following table summarizes the Company’s share repurchases of its Class A common stock:
Nine Months Ended September 30,
20262025
(in millions, except per share data)
Dollar-value of shares repurchased
$11,893 $8,169 
Shares repurchased22.9 14.7 
Average price paid per share$520.64 $554.47 
As of September 30, 2026, the remaining authorization under share repurchase programs approved by the Company’s Board of Directors was $5.6 billion. Through October 26, 2026, the Company repurchased $0.6 billion dollar-value of shares. As of October 26, 2026, the remaining authorization under share repurchase programs approved by the Company’s Board of Directors was $4.9 billion.
v3.26.3
Accumulated Other Comprehensive Income (Loss)
 9 Months Ended
Sep. 30, 2026
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Accumulated Other Comprehensive Income (Loss) Accumulated Other Comprehensive Income (Loss)
The changes in the balances of each component of accumulated other comprehensive income (loss), net of tax, for the nine months ended September 30, 2026 and 2025 were as follows:
December 31, 2025Increase / (Decrease)ReclassificationsSeptember 30, 2026
(in millions)
Foreign currency translation adjustments 1
$(1,034)$(32)$— $(1,066)
Translation adjustments on net investment hedges 2
126 56 — 182 
Cash flow hedges
Foreign exchange contracts 3
46 108 (146)8 
Interest rate contracts(107)— 4 (103)
Defined benefit pension and other postretirement plans(12)— — (12)
Investment securities available-for-sale— (3)— (3)
Accumulated other comprehensive income (loss)$(981)$129 $(142)$(994)
December 31, 2024Increase / (Decrease)ReclassificationsSeptember 30, 2025
(in millions)
Foreign currency translation adjustments 1
$(1,558)$581 $— $(977)
Translation adjustments on net investment hedges 2
295 (164)— 131 
Cash flow hedges
Foreign exchange contracts 3
(51)(293)370 26 
Interest rate contracts(113)— 4 (109)
Defined benefit pension and other postretirement plans(6)— — (6)
Accumulated other comprehensive income (loss)$(1,433)$124 $374 $(935)
1For the nine months ended September 30, 2026, the increase in the accumulated other comprehensive loss related to foreign currency translation adjustments was driven primarily by the depreciation of the British pound and euro, partially offset by the appreciation of the Brazilian Real against the U.S. dollar. For the nine months ended September 30, 2025, the decrease in the accumulated other comprehensive loss related to foreign currency translation adjustments was driven primarily by the appreciation of the euro, British pound and Brazilian real against the U.S. dollar.
2For the nine months ended September 30, 2026, the increase in the accumulated other comprehensive income related to the net investment hedges was driven primarily by the depreciation of the euro against the U.S. dollar. For the nine months ended September 30, 2025, the decrease in the accumulated other comprehensive income related to the net investment hedges was driven primarily by the appreciation of the euro against the U.S. dollar. See Note 16 (Derivative and Hedging Instruments) for additional information.
3Represents foreign exchange derivative contracts designated as cash flow hedging instruments. Gains and losses resulting from changes in the fair value of these contracts are deferred in accumulated other comprehensive income (loss) and subsequently reclassified to the consolidated statements of operations when the underlying hedged transactions impact earnings. See Note 16 (Derivative and Hedging Instruments) for additional information.
v3.26.3
Share-Based Payments
 9 Months Ended
Sep. 30, 2026
Share-Based Payment Arrangement, Additional Disclosure [Abstract]  
Share-Based Payments Share-Based Payments
For the nine months ended September 30, 2026, the Company granted the following awards under the Mastercard Incorporated 2006 Long Term Incentive Plan, amended and restated as of June 22, 2021 (the “LTIP”). The LTIP is a stockholder-approved plan that permits the grant of various types of equity awards to employees.
Grants in 2026Weighted-Average
Grant-Date
Fair Value
(in millions)(per option/unit)
Non-qualified stock options0.2$165 
Restricted stock units1.1$512 
Performance stock units0.2$503 
The Company uses the Black-Scholes option pricing model to determine the grant-date fair value of stock options and calculates the expected life and the expected volatility based on historical Mastercard information. The expected life of stock options granted in 2026 was estimated to be six years, while the expected volatility was determined to be 27.5%. These awards expire ten years from the date of grant and vest ratably over three years.
The fair value of restricted stock units (“RSUs”) is determined and fixed on the grant date based on the Company’s Class A common stock price, adjusted for the exclusion of dividend equivalents. RSUs generally vest ratably over three years.
The Company uses the Monte Carlo simulation valuation model to determine the grant-date fair value of performance stock units (“PSUs”) granted. PSUs vest after three years from the date of grant and are subject to a mandatory one-year deferral period, during which vested PSUs are eligible for dividend equivalents.
Compensation expense is recorded net of estimated forfeitures over the shorter of the vesting period or the date the individual becomes eligible to retire under the LTIP. The Company uses the straight-line method of attribution over the requisite service period for expensing equity awards.
v3.26.3
Income Taxes
 9 Months Ended
Sep. 30, 2026
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
The effective income tax rates for the three months ended September 30, 2026 and 2025 were 19.4% and 21.5%, respectively. The effective income tax rates for the nine months ended September 30, 2026 and 2025 were 19.6% and 20.4%, respectively. The effective income tax rates for the three and nine months ended September 30, 2026 were lower compared to the periods in 2025 due to higher net discrete tax benefits and other tax impacts in 2026.
Uncertain tax positions are reviewed on an ongoing basis and are adjusted after considering facts and circumstances, including progress of tax audits, developments in case law and closing of statutes of limitation. Within the next twelve months, the Company believes that the resolution of certain federal, foreign and state and local examinations is reasonably possible and that a change in estimate, reducing unrecognized tax benefits, may occur. While such a change may be significant, it is not possible to provide a range of the potential change until the examinations progress further or the related statutes of limitation expire. The Company has effectively settled its U.S. federal income tax obligations through 2014. With limited exception, the Company is no longer subject to state and local or foreign examinations by tax authorities for years before 2014.
v3.26.3
Legal and Regulatory Proceedings
 9 Months Ended
Sep. 30, 2026
Legal and Regulatory Proceedings [Abstract]  
Legal and Regulatory Proceedings Legal and Regulatory Proceedings
Mastercard is a party to legal and regulatory proceedings with respect to a variety of matters in the ordinary course of business.  Some of these proceedings are based on complex claims involving substantial uncertainties and unascertainable damages.  Accordingly, it is not possible to determine the probability of loss or estimate damages, and therefore, Mastercard has not established liabilities for any of these proceedings, except as discussed below. When the Company determines that a loss is both probable and reasonably estimable, Mastercard records a liability and discloses the amount of the liability if it is material. When a material loss contingency is only reasonably possible, Mastercard does not record a liability, but instead discloses the nature and the amount of the claim, and an estimate of the loss or range of loss, if such an estimate can be made. Unless otherwise stated below with respect to these matters, Mastercard cannot provide an estimate of the possible loss or range of loss based on one or more of the following reasons: (1) actual or potential plaintiffs have not claimed an amount of monetary damages or the amounts are unsupportable or exaggerated, (2) the matters are in early stages, (3) there is uncertainty as to the outcome of pending appeals or motions, (4) there are significant factual issues to be resolved, (5) the proceedings involve multiple defendants or potential defendants whose share of any potential financial responsibility has yet to be determined and/or (6) there are novel legal issues presented. Furthermore, except as identified with respect to the matters below, Mastercard does not believe that the outcome of any individual existing legal or regulatory proceeding to which it is a party will have a material adverse effect on its results of operations, financial condition and overall business. However, an adverse judgment or other outcome or settlement with respect to any proceedings discussed below could result in fines or payments by Mastercard and/or could require Mastercard to change its business practices. In addition, an adverse outcome in a regulatory proceeding could lead to the filing of civil damage claims and possibly result in significant damage awards. Any of these events could have a material adverse effect on Mastercard’s results of operations, financial condition and overall business.
Interchange Litigation and Regulatory Proceedings
Mastercard’s interchange fees and other practices are subject to regulatory, legal review and/or challenges in a number of jurisdictions, including the proceedings described below. When taken as a whole, the resulting decisions, regulations and legislation with respect to interchange fees and acceptance practices may have a material adverse effect on the Company’s prospects for future growth and its overall results of operations and financial condition.
United States
In 2005, the first of a series of complaints were filed on behalf of merchants (the majority of the complaints were styled as class actions, although a few complaints were filed on behalf of individual merchant plaintiffs) against Mastercard International, Visa U.S.A., Inc., Visa International Service Association and a number of financial institutions. Taken together, the claims in the complaints were generally brought under both Sections 1 and 2 of the Sherman Act, which prohibit monopolization and attempts or conspiracies to monopolize a particular industry, and some of these complaints contain unfair competition law claims under state law. The complaints allege, among other things, that Mastercard, Visa, and certain financial institutions conspired to set the price of interchange fees, enacted point-of-sale acceptance rules (including the “no surcharge” rule) in violation of antitrust laws and engaged in unlawful tying and bundling of certain
products and services, resulting in merchants paying excessive costs for the acceptance of Mastercard and Visa credit and debit cards. The cases were consolidated for pre-trial proceedings in the U.S. District Court for the Eastern District of New York in MDL No. 1720 (the “U.S. MDL Litigation Cases”). The plaintiffs filed a consolidated class action complaint seeking treble damages.
In 2006, the group of purported merchant class plaintiffs filed a supplemental complaint alleging that Mastercard’s initial public offering of its Class A Common Stock in May 2006 (the “IPO”) and certain purported agreements entered into between Mastercard and financial institutions in connection with the IPO: (1) violate U.S. antitrust laws and (2) constituted a fraudulent conveyance because the financial institutions allegedly attempted to release, without adequate consideration, Mastercard’s right to assess them for Mastercard’s litigation liabilities. The class plaintiffs sought treble damages and injunctive relief including, but not limited to, an order reversing and unwinding the IPO.
In 2011, Mastercard and Mastercard International entered into each of: (1) an omnibus judgment sharing and settlement sharing agreement with Visa Inc., Visa U.S.A. Inc. and Visa International Service Association and a number of financial institutions; and (2) a Mastercard settlement and judgment sharing agreement with a number of financial institutions. The agreements provide for the apportionment of certain costs and liabilities which Mastercard, the Visa parties and the financial institutions may incur, jointly and/or severally, in the event of an adverse judgment or settlement of one or all of the U.S. MDL Litigation Cases. Among a number of scenarios addressed by the agreements, in the event of a global settlement involving the Visa parties, the financial institutions and Mastercard, Mastercard would pay 12% of the monetary portion of the settlement. In the event of a settlement involving only Mastercard and the financial institutions with respect to their issuance of Mastercard cards, Mastercard would pay 36% of the monetary portion of such settlement. 
In 2012, the parties entered into a definitive settlement agreement with respect to the U.S. MDL Litigation Cases (including with respect to the claims related to the IPO) and the defendants separately entered into a settlement agreement with the individual merchant plaintiffs. The settlements included cash payments that were apportioned among the defendants pursuant to the omnibus judgment sharing and settlement sharing agreement described above. Mastercard also agreed to provide class members with a short-term reduction in default credit interchange rates and to modify certain of its business practices, including its no surcharge rule. The court granted final approval of the settlement in 2013. Following an appeal by objectors and as a result of a reversal of the settlement approval by the U.S. Court of Appeals for the Second Circuit, the case was sent back to the district court for further proceedings. The court divided the merchants’ claims into two separate classes - monetary damages claims (the “Damages Class”) and claims seeking changes to business practices (the “Rules Relief Class”). The court appointed separate counsel for each class.
In 2018, the parties to the Damages Class litigation entered into a class settlement agreement to resolve the Damages Class claims (the “Damages Class Settlement Agreement”), with merchants representing slightly more than 25% of the Damages Class interchange volume choosing to opt out of the settlement. The Damages Class Settlement Agreement became final in 2023. In April 2026, a putative class action was filed on behalf of U.S. merchants who were part of the Damages Class seeking damages related to interchange fees associated with Mastercard and Visa credit card transactions since January 2019. The named plaintiffs concurrently filed a motion for summary judgment before the court that oversaw the Damages Class litigation seeking a declaration that the release from the Damages Class Settlement Agreement (which by its terms prospectively releases the damages claims of U.S. merchants who did not opt out of the class through August 2028) does not bar their damages claims. In September 2026, the district court ruled against the plaintiff’s motion, barring their damages claims. The plaintiffs have appealed the decision to the U.S. Court of Appeals for the Second Circuit.
Mastercard has reached settlements with all but two of the individual opt-out plaintiffs. Mastercard continues to litigate with Block, Inc. and Intuit, Inc., who are seeking aggregate single damages in excess of $5 billion, primarily with respect to the Mastercard purchase volume associated with smaller merchants for whom they acted as payment facilitators, as well as with respect to the Mastercard purchase volume in which they acted as a merchant. Summary judgment briefing is expected to continue over the remainder of 2026.
In 2024, the parties to the Rules Relief Class litigation entered into a settlement agreement to resolve the Rules Relief Class claims, which was subsequently denied by the court. In 2025, the parties reached a revised settlement agreement that, if approved by the court, would resolve the litigation. The district court granted preliminary approval of the settlement in June 2026. A hearing on final approval is scheduled for November 2026.
As of September 30, 2026 and December 31, 2025, Mastercard accrued a liability of $156 million and $637 million, respectively, for the U.S. MDL Litigation Cases. The decrease in the liability resulted primarily from payments made during 2026. The liability as of September 30, 2026 represents Mastercard’s best estimate of its probable liabilities in these matters and does not represent an estimate of a loss, if any, if the matters were litigated to a final outcome. Mastercard is not currently in the position to estimate the potential liability if that were to occur.
In September 2026, a separate putative class action was filed on behalf of U.S. merchants who were not members of the Damages Class claims. These merchants are seeking damages related to accepting Mastercard credit cards since January 2019.
Europe
Since 2012, a number of United Kingdom (“U.K.”) merchants filed claims or threatened litigation against Mastercard seeking damages for excessive costs paid for acceptance of Mastercard credit and debit cards arising out of alleged anti-competitive conduct with respect to,
among other things, Mastercard’s cross-border interchange fees and its U.K. and Ireland domestic interchange fees (the “U.K. Merchant claimants”). In addition, Mastercard has faced similar filed or threatened litigation by merchants with respect to interchange rates in other countries in Europe (the “Pan-European Merchant claimants”). Further individual merchant interchange claims have been filed in court in the U.K. throughout 2026. Mastercard has resolved a substantial amount of these damages claims through settlement or judgment. Following these settlements, over £0.5 billion (approximately $0.7 billion as of September 30, 2026) of unresolved damages claims remain. Mastercard continues to litigate with the remaining U.K. and Pan-European Merchant claimants and it has submitted statements of defense disputing liability and damages claims. A number of those matters are now progressing with motion practice and discovery. Hearings involving both liability and damages issues involving multiple merchant cases have been completed. In 2025, the trial court in the U.K. merchant action decided against Mastercard on certain liability issues, and in March 2026, Mastercard was granted permission to appeal this decision on all grounds. The appeal hearing is scheduled for February 2027. In February 2026, the trial court decided certain issues related to damages. Some of these issues were decided in favor of Mastercard and Mastercard is seeking permission to appeal the issues that were negative to the Company. The court must also still determine additional liability and damages issues, some of which are scheduled to be tried in October 2027.
Additional United Kingdom matters. Mastercard and Visa were served with a proposed collective action complaint in the U.K. on behalf of merchants seeking damages for commercial card transactions in both the U.K. and the European Union. In 2023, the plaintiffs filed a revised collective action application claiming damages against Mastercard in excess of £1 billion (approximately $1.3 billion as of September 30, 2026). In June 2024, the court granted the plaintiffs’ collective action application. Mastercard’s request for permission to appeal this ruling was denied. In February 2026, the U.K. trial court decided to exclude over 100 merchants from the class on procedural grounds. Liability and damages issues in this claim are now being tried in the same court proceedings as the U.K. and Pan-European merchant cases.
In October 2026, Mastercard and Visa were served with two proposed collective action complaints in the U.K. on behalf of U.K. merchants who have accepted transactions since October 2020. The first complaint seeks damages against Mastercard of approximately £1.5 billion (approximately $2.0 billion as of September 30, 2026) with respect to consumer domestic and cross-border transactions and the second complaint seeks damages against Mastercard of approximately £0.4 billion (approximately $0.5 billion as of September 30, 2026) with respect to consumer online cross-border transactions.
Portugal. Mastercard has been named as a defendant in a proposed consumer collective action filed in Portugal on behalf of Portuguese consumers. The complaint, which seeks to leverage the 2019 resolution of the European Commission’s investigation of Mastercard’s central acquiring rules and interregional interchange fees, claims damages of approximately €0.4 billion (approximately $0.5 billion as of September 30, 2026) for interchange fees that were allegedly passed on to consumers by Portuguese merchants for a period of approximately 20 years. Mastercard has submitted a statement of defense that disputes both liability and damages. A trial that was originally scheduled for October 2026 has been stayed, pending resolution of related issues presented in a claim involving separate parties.
Netherlands. In 2025, Mastercard and Visa were served with a proposed collective action in the Netherlands on behalf of Dutch merchants. The complaint, which relates to interregional interchange fees covering the period from 1992 and ongoing, seeks declaratory relief and damages estimated at approximately €0.3 billion (approximately $0.3 billion as of September 30, 2026).
Australia
In 2022, the Australian Competition & Consumer Commission (“ACCC”) filed a complaint targeting certain agreements entered into by Mastercard and certain Australian merchants related to Mastercard’s debit program. The ACCC alleges that by entering into such agreements, Mastercard engaged in conduct with the purpose of substantially lessening competition in the supply of debit card acceptance services. The ACCC seeks both declaratory relief and monetary fines and costs. A hearing on liability issues concluded in June 2026.
ATM Non-Discrimination Rule Surcharge Complaints
In 2011, a trade association of independent ATM operators and 13 independent ATM operators filed a complaint styled as a class action lawsuit in the U.S. District Court for the District of Columbia against both Mastercard and Visa (the “ATM Operators Class Complaint”).  Plaintiffs seek to represent a class of non-bank operators of ATM terminals that operate in the United States with the discretion to determine the price of the ATM access fee for the terminals they operate. Plaintiffs allege that Mastercard and Visa have violated Section 1 of the Sherman Act by imposing rules that require ATM operators to charge non-discriminatory ATM surcharges for transactions processed over Mastercard’s and Visa’s respective networks that are not greater than the surcharge for transactions over other networks accepted at the same ATM.  Plaintiffs seek both injunctive and monetary relief equal to treble the damages they claim to have sustained as a result of the alleged violations and their costs of suit, including attorneys’ fees. 
Subsequently, multiple related complaints were filed in the U.S. District Court for the District of Columbia alleging both federal antitrust and multiple state unfair competition, consumer protection and common law claims against Mastercard and Visa on behalf of different putative classes of users of ATM services. The claims in these actions largely mirrored the allegations made in the ATM Operators Class Complaint, although these complaints sought damages on behalf of consumers of ATM services who paid allegedly inflated ATM fees at both bank (“Bank ATM Consumer Class Complaint”) and non-bank (“Non-bank ATM Consumer Class Complaint”) ATM operators as a result of the defendants’ ATM rules. Plaintiffs sought both injunctive and monetary relief equal to treble the damages they claimed to have sustained as a result of the alleged violations and their costs of suit, including attorneys’ fees. 
In 2023, the D.C. Circuit Court affirmed the district court’s previous order granting class certification to the plaintiffs in all three class complaints.
In 2024, Mastercard executed a settlement agreement with the class lawyers representing the plaintiffs in the Bank ATM Consumer Class Complaint, that was subsequently approved by the court in 2025. In 2025, Mastercard executed a settlement agreement with the class lawyers representing the plaintiffs in the Non-bank ATM Consumer Class Complaint (subject to court approval) and recorded an accrual of $79 million in connection with this matter. In August 2026, the district court provided preliminary approval of the settlement.
In August 2026, Mastercard executed a settlement agreement with the only independent ATM operator who opted out of the ATM Operators Class Complaint. In September 2026, the district court dismissed the litigation with respect to the ATM Operators Class Complaint.
U.S. Liability Shift Litigation
In 2016, a proposed U.S. merchant class action complaint was filed in federal court in California alleging that Mastercard, Visa, American Express and Discover (the “Network Defendants”), EMVCo, and a number of issuing banks (the “Bank Defendants”) engaged in a conspiracy to shift fraud liability for card present transactions from issuing banks to merchants not yet in compliance with the standards for EMV chip cards in the United States (the “EMV Liability Shift”), in violation of the Sherman Act and California law. Plaintiffs alleged damages equal to the value of all chargebacks for which class members became liable as a result of the EMV Liability Shift on October 1, 2015. The plaintiffs sought treble damages, attorney’s fees and costs and an injunction against future violations of governing law. The district court denied the Network Defendants’ motion to dismiss the complaint, but granted such a motion for EMVCo and the Bank Defendants. In 2017, the district court transferred the case to New York so that discovery could be coordinated with the U.S. MDL Litigation Cases described above. In 2020, the district court issued an order granting the plaintiffs’ request for class certification. The plaintiffs submitted expert reports that allege aggregate single damages in excess of $1 billion against the four Network Defendants. The Network Defendants submitted expert reports rebutting both liability and damages. In 2024, the district court denied the Network Defendants’ motion for summary judgment. In 2025, Mastercard executed a settlement agreement with the class lawyers to resolve the matter (subject to court approval) and recorded an accrual of $80 million in connection with this matter. In April 2026, the district court granted final approval of the settlement.
Telephone Consumer Protection Class Action
Mastercard is a defendant in a Telephone Consumer Protection Act (“TCPA”) class action pending in Florida. The plaintiffs are individuals and businesses who allege that approximately 381,000 unsolicited faxes were sent to them advertising a Mastercard co-brand card issued by First Arkansas Bank (“FAB”). The TCPA provides for uncapped statutory damages of $500 per fax. Mastercard has asserted various defenses to the claims, and has notified FAB of an indemnity claim that it has (which FAB has disputed). In 2019, the Federal Communications Commission (“FCC”) issued a declaratory ruling clarifying that the TCPA does not apply to faxes sent to online fax services that are received online via email. In 2021, the trial court granted plaintiffs’ request for class certification, but narrowed the scope of the class to stand alone fax recipients only. Mastercard’s request to appeal that decision was denied. Briefing on plaintiffs’ motion to amend the class definition and Mastercard’s cross-motion to decertify the stand alone fax recipient class was completed in April 2023 and the parties continue to await the court’s decision.
European Commission Investigation
In 2024, Mastercard received a formal request for information from the European Commission seeking documents and information in connection with an investigation into alleged anti-competitive behavior of certain card scheme services in the European Union/European Economic Area. The request focuses on Mastercard’s practices regarding network fees related to acquirers. Mastercard is cooperating with the European Commission in connection with the request.
v3.26.3
Settlement and Other Risk Management
 9 Months Ended
Sep. 30, 2026
Settlement and Other Risk Management [Abstract]  
Settlement and Other Risk Management Settlement and Other Risk Management
Mastercard’s rules guarantee the settlement of many of the payment network transactions between its customers (“settlement risk”). Settlement exposure is the settlement risk to customers under Mastercard’s rules due to the difference in timing between the payment transaction date and subsequent settlement. For those transactions the Company guarantees, the guarantee will cover the full amount of the settlement obligation to the extent the settlement obligation is not otherwise satisfied. The duration of the settlement exposure is short-term and generally limited to a few days.
Gross settlement exposure is estimated using the average daily payment volume for the three months prior to period end multiplied by the estimated number of days of exposure. The Company has global risk management policies, procedures and standards that provide a framework for managing the Company’s settlement risk and exposure. In the event of failed settlement by a customer, Mastercard may pursue one or more remedies available under the Company’s rules to recover potential losses. Historically, the Company has experienced a low level of losses from customer settlement failures.
As part of its policies, Mastercard requires certain customers that do not meet the Company’s risk standards to enter into risk mitigation arrangements, including cash collateral and/or forms of credit enhancement such as letters of credit and guarantees. This requirement is
based on a review of the individual risk circumstances for each customer. Mastercard monitors its credit risk portfolio and the adequacy of its risk mitigation arrangements on a regular basis. Additionally, the Company periodically reviews its risk management methodology and standards. The amounts of estimated settlement exposure are revised as necessary.
The Company’s estimated settlement exposure was as follows:
September 30,
2026		December 31,
2025
(in millions)
Gross settlement exposure
$94,646 $89,599 
Risk mitigation arrangements applied to settlement exposure
(16,870)(16,722)
Net settlement exposure
$77,776 $72,877 
Mastercard also provides guarantees to customers and certain other counterparties indemnifying them from losses stemming from failures of third parties to perform duties. This includes guarantees of Mastercard-branded travelers cheques issued, but not yet cashed. In addition, the Company enters into agreements in the ordinary course of business under which the Company agrees to indemnify third parties against damages, losses and expenses incurred in connection with legal and other proceedings arising from relationships or transactions with the Company. Certain indemnifications do not provide a stated maximum exposure. As the extent of the Company’s obligations under these agreements depends entirely upon the occurrence of future events, the Company’s potential future liability under these agreements is not determinable. Historically, payments made by the Company under these types of contractual arrangements have not been material.
v3.26.3
Derivative and Hedging Instruments
 9 Months Ended
Sep. 30, 2026
Foreign Currency Derivatives [Abstract]  
Derivative and Hedging Instruments Derivative and Hedging Instruments
The Company monitors and manages its foreign currency and interest rate exposures as part of its overall risk management program, which focuses on the unpredictability of financial markets and seeks to reduce the potentially adverse effects that the volatility of these markets may have on its operating results. A primary objective of the Company’s risk management strategies is to reduce the financial impact that may arise from volatility in foreign currency exchange rates. The Company uses both foreign exchange derivative contracts (when the hedge costs are economically justified) and foreign currency denominated debt to manage its currency exposure. In addition, the Company may enter into interest rate derivative contracts to manage the effects of interest rate movements on the Company’s aggregate liability portfolio, including potential future debt issuances. The Company does not enter into derivatives for speculative purposes.
The Company’s derivative financial instruments are subject to both market and counterparty credit risk. Market risk is the potential for economic losses to be incurred on market risk sensitive instruments arising from adverse changes in market factors such as foreign currency exchange rates, interest rates and other related variables. Counterparty credit risk is the risk of loss due to failure of the counterparty to perform its obligations in accordance with contractual terms. To mitigate counterparty credit risk, the Company enters into derivative contracts with a diversified group of selected financial institutions based upon their credit ratings and other factors. Generally, the Company does not obtain collateral related to derivatives because of the high credit ratings of the counterparties. The Company’s derivative contracts are subject to enforceable master netting arrangements, which contain various netting and setoff provisions. However, the Company has elected to present derivative assets and liabilities on a gross basis on the consolidated balance sheets.
The following table summarizes the fair value of the Company’s derivative financial instruments and the related notional amounts:
September 30, 2026December 31, 2025
NotionalDerivative assetsDerivative liabilitiesNotionalDerivative assetsDerivative liabilities
(in millions)
Derivatives designated as hedging instruments
Foreign exchange contracts in a cash flow hedge 1
$4,468 $21 $20 $5,050 $16 $142 
Interest rate contracts in a fair value hedge 2
1,000 — 15 1,000 — 27 
Derivatives not designated as hedging instruments
Foreign exchange contracts 1
3,828 5 42 4,866 19 18 
Total
$9,296 $26 $77 $10,916 $35 $187 
1Foreign exchange derivative assets and liabilities are included within prepaid expenses and other current assets, other assets, other current liabilities and other liabilities on the consolidated balance sheets.
2Interest rate derivative liabilities are included within other current liabilities and other liabilities on the consolidated balance sheets.
Cash Flow Hedges
The Company may enter into foreign exchange derivative contracts, including forwards and options, to manage the impact of foreign currency variability on anticipated revenues and expenses, which fluctuate based on currencies other than the functional currency of the entity. The objective of these hedging activities is to reduce the effect of movement in foreign exchange rates for a portion of revenues and expenses forecasted to occur. As these contracts are designated as cash flow hedging instruments, gains and losses resulting from changes in fair value of these contracts are deferred in accumulated other comprehensive income (loss) and are subsequently reclassified to the consolidated statements of operations when the underlying hedged transactions impact earnings. The terms of these contracts are generally less than 18 months.
In 2024, the Company entered into foreign exchange derivative contracts to hedge its exposure to variability in cash flows related to foreign denominated assets. Gains and losses resulting from changes in fair value of these contracts are deferred in accumulated other comprehensive income (loss) and are subsequently reclassified to the consolidated statements of operations when the hedged transactions impact earnings. Forward points are excluded from the effectiveness assessment and are amortized to general and administrative expenses on the consolidated statements of operations over the hedge period. The maximum term of these contracts was approximately 7 years.
The pre-tax gain (loss) related to the Company’s foreign exchange derivative contracts designated as cash flow hedging instruments were as follows:
Gain (Loss)
Recognized in Other Comprehensive Income (Loss)
Gain (Loss)
Reclassified from Accumulated Other Comprehensive Income (Loss)
Three Months Ended September 30,
Location of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Earnings
Three Months Ended September 30,
2026202520262025
(in millions)(in millions)
Foreign exchange contracts 1
$5 $34 Net revenue$5 $(16)
General and administrative 2
$26 $10 
Gain (Loss)
Recognized in Other Comprehensive Income (Loss)		Gain (Loss)
Reclassified from Accumulated Other Comprehensive Income (Loss)
Nine Months Ended September 30,Location of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into EarningsNine Months Ended September 30,
2026202520262025
(in millions)(in millions)
Foreign exchange contracts 1
$111 $(314)Net revenue$(16)$(31)
General and administrative 2
$158 $(346)
1Includes immaterial forward points excluded from the effectiveness assessment recognized in other comprehensive income (loss).
2Includes immaterial forward points excluded from the effectiveness assessment recognized in earnings.
In addition, the Company may enter into interest rate derivative contracts to manage the effects of interest rate movements on the Company’s aggregate liability portfolio, including potential future debt issuances, and designate such derivatives as hedging instruments in a cash flow hedging relationship. Gains and losses resulting from changes in fair value of these contracts are deferred in accumulated other comprehensive income (loss) and are subsequently reclassified as an adjustment to interest expense over the respective terms of the hedged debt issuances. For the three and nine months ended September 30, 2026 and 2025, the amounts reclassified from accumulated other comprehensive income (loss) to interest expense were not material.
The Company estimates that the pre-tax amount of the net deferred loss on cash flow hedges recorded in accumulated other comprehensive income (loss) at September 30, 2026 that will be reclassified into the consolidated statements of operations within the next 12 months is not material.
Fair Value Hedges
The Company may enter into interest rate derivative contracts, including interest rate swaps, to manage the effects of interest rate movements on the fair value of the Company's fixed-rate debt and designate such derivatives as hedging instruments in a fair value hedging relationship. Changes in fair value of these contracts and changes in fair value of fixed-rate debt attributable to changes in the hedged benchmark interest rate generally offset each other and are recorded in interest expense on the consolidated statements of operations. Gains and losses related to the net settlements of interest rate swaps are also recorded in interest expense on the consolidated statements of operations. The periodic cash settlements are included in operating activities on the consolidated statements of cash flows.
The Company has an interest rate swap designated as a fair value hedge related to fixed interest rate Senior Notes. In effect, the interest rate swap synthetically converts the fixed interest rate on this debt to a variable interest rate based on the SOFR Overnight Index Swap Rate. The net impacts to interest expense for the three and nine months ended September 30, 2026 and 2025 were not material.
Net Investment Hedges
The Company may use foreign currency denominated debt and/or foreign exchange derivative contracts to hedge a portion of its net investment in foreign subsidiaries against adverse movements in exchange rates. The effective portion of the net investment hedge is recorded as a currency translation adjustment in accumulated other comprehensive income (loss). Forward points are excluded from the effectiveness assessment and are amortized to general and administrative expenses on the consolidated statements of operations over the hedge period. No amounts were recognized in earnings related to forward points for the three months ended September 30, 2026 and 2025. The amounts recognized in earnings related to forward points for the nine months ended September 30, 2026 and 2025, were not material.
The pre-tax gain (loss) recognized in other comprehensive income (loss) related to the Company's foreign exchange derivative contracts designated as net investment hedging instruments were as follows:
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
(in millions)
Foreign exchange contracts$— $— $3 $12 
As of September 30, 2026 and December 31, 2025, the Company had €1.7 billion euro-denominated debt outstanding designated as hedges of a portion of its net investment in its European operations. For the three months ended September 30, 2026 and 2025, the Company recorded pre-tax net foreign currency gains (losses) of $8 million and $(2) million, respectively, in other comprehensive income (loss). For the nine months ended September 30, 2026 and 2025, the Company recorded pre-tax net foreign currency gains (losses) of $69 million and $(222) million, respectively, in other comprehensive income (loss).
As of September 30, 2026 and December 31, 2025, the Company had net foreign currency gains of $182 million and $126 million, after tax, respectively, in accumulated other comprehensive income (loss) associated with this hedging activity.
Non-designated Derivatives
The Company may also enter into foreign exchange derivative contracts to serve as economic hedges, such as to offset possible changes in the value of monetary assets and liabilities due to foreign exchange fluctuations, without designating these derivative contracts as hedging instruments. In addition, the Company is subject to foreign exchange risk as part of its daily settlement activities. This risk is typically limited to a few days between when a payment transaction takes place and the subsequent settlement with customers. To manage this risk, the Company may enter into short duration foreign exchange derivative contracts based upon anticipated receipts and disbursements for the respective currency position. The objective of these activities is to reduce the Company’s exposure to volatility arising from gains and losses resulting from fluctuations of foreign currencies against its functional currencies. Gains and losses resulting from changes in fair value of these contracts are recorded net in general and administrative expenses on the consolidated statements of operations, along with the foreign currency gains and losses on monetary assets and liabilities.
The amount of gain (loss) recognized on the consolidated statements of operations for non-designated derivative contracts were as follows: 
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
(in millions)
Foreign exchange contracts
General and administrative$17 $(19)$(34)$61 
v3.26.3
Segment Reporting
 9 Months Ended
Sep. 30, 2026
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
Mastercard has concluded it has one reportable operating segment, “Payment Solutions.” The following represents the selected financial information of the Payment Solutions segment:
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
(in millions)
Net revenue
$9,807 $8,602 $27,482 $23,985 
Less:
Personnel
2,028 1,893 6,012 5,433 
Professional fees
162 128 414 348 
Data processing and telecommunications
386 324 1,104 930 
Foreign exchange activity
42 26 159 68 
Advertising and marketing
252 245 622 610 
Depreciation and amortization
326 290 934 846 
Provision for litigation
74 83 156 330 
Investment income
(88)(81)(257)(239)
(Gains) losses on equity investments, net
5 (41)73 (16)
Interest expense
250 186 653 563 
Other (income) expense, net
(46)(2)(152)(23)
Income tax expense
1,113 1,072 3,141 2,794 
Other segment items 1
675 552 1,725 1,433 
Consolidated net income
$4,628 $3,927 $12,898 $10,908 
1Includes fulfillment costs, occupancy costs, travel and meeting expenses and other overhead expenses.
v3.26.3
Insider Trading Arrangements
 3 Months Ended
Sep. 30, 2026
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.26.3
Summary of Significant Accounting Policies (Policy)
 9 Months Ended
Sep. 30, 2026
Accounting Policies [Abstract]  
Organization
Organization
Mastercard Incorporated and its consolidated subsidiaries, including Mastercard International Incorporated (“Mastercard International” and together with Mastercard Incorporated, “Mastercard” or the “Company”), is a technology company in the global payments industry. Mastercard connects consumers, financial institutions, merchants, governments, digital partners, businesses and other organizations worldwide by enabling electronic payments and making those payment transactions secure, simple, smart and accessible.
Consolidation and Basis of Presentation
Consolidation and Basis of Presentation
The consolidated financial statements include the accounts of Mastercard and its majority-owned and controlled entities, including any variable interest entities (“VIEs”) for which the Company is the primary beneficiary. Investments in VIEs for which the Company is not considered the primary beneficiary are not consolidated and are accounted for as marketable, equity method or measurement alternative method investments and recorded in other assets on the consolidated balance sheets. At September 30, 2026 and December 31, 2025, there were no significant VIEs that required consolidation and the investments were not material to the consolidated financial statements. The Company consolidates acquisitions as of the date the Company has obtained a controlling financial interest. Intercompany transactions and balances have been eliminated in consolidation. The Company follows accounting principles generally accepted in the United States of America (“GAAP”).
The balance sheet as of December 31, 2025 was derived from the audited consolidated financial statements as of December 31, 2025. The consolidated financial statements for the three and nine months ended September 30, 2026 and 2025 and as of September 30, 2026 are unaudited, and in the opinion of management, include all normal recurring adjustments that are necessary to present fairly the results for interim periods. The results of operations for the three and nine months ended September 30, 2026 are not necessarily indicative of the results to be expected for the full year.
The accompanying unaudited consolidated financial statements are presented in accordance with the U.S. Securities and Exchange Commission (SEC) requirements for Quarterly Reports on Form 10-Q. Reference should be made to the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 (“2025 Form 10-K”) for additional disclosures, including a summary of the Company’s significant accounting policies.
v3.26.3
Acquisitions (Tables)
 9 Months Ended
Sep. 30, 2026
Business Combination [Abstract]  
Business Combination, Recognized Asset Acquired and Liability Assumed
The estimated fair values of the purchase price allocation as of the acquisition date is noted below.
(in millions)
Assets:
Cash and cash equivalents$13 
Prepaid expenses and other current assets27 
Goodwill1,271 
Other intangible assets, net363 
Other assets32 
Total assets1,706 
Liabilities:
Other current liabilities11 
Other liabilities139 
Total liabilities150 
Net assets acquired$1,556 
Business Combination, Intangible Asset, Acquired, Finite-Lived
The following table summarizes the identified intangible assets acquired:
Acquisition Date Fair ValueWeighted-Average Useful Life
(in millions)(in years)
Developed technologies$238 9.0
Customer relationships125 14.0
Other intangible assets, net$363 10.7
v3.26.3
Revenue (Tables)
 9 Months Ended
Sep. 30, 2026
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue
The Company’s disaggregated net revenue by category and geographic region were as follows:
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
(in millions)
Net revenue by category:
Payment network$5,749 $5,179 $16,148 $14,556 
Value-added services and solutions4,058 3,423 11,334 9,429 
Net revenue$9,807 $8,602 $27,482 $23,985 
Net revenue by geographic region:
Americas 1
$4,190 $3,651 $11,754 $10,207 
Asia Pacific, Europe, Middle East and Africa
5,617 4,951 15,728 13,778 
Net revenue$9,807 $8,602 $27,482 $23,985 
1Americas includes the United States, Canada and Latin America.
The following table sets forth the location of the amounts recognized on the consolidated balance sheets from contracts with customers:
September 30,
2026		December 31,
2025
(in millions)
Receivables from contracts with customers
Accounts receivable
$4,330 $4,010 
Contract assets
Prepaid expenses and other current assets161 189 
Other assets564 508 
Deferred revenue 1
Other current liabilities1,511 1,137 
Other liabilities329 424 
1    Revenue recognized from performance obligations satisfied for the three and nine months ended September 30, 2026 was $1,112 million and $2,831 million, respectively.
v3.26.3
Earnings Per Share (Tables)
 9 Months Ended
Sep. 30, 2026
Earnings Per Share [Abstract]  
Schedule of Basic and Diluted Earnings Per Share
The components of basic and diluted earnings per share (“EPS”) for common shares were as follows:
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
(in millions, except per share data)
Numerator
Net income$4,628 $3,927 $12,898 $10,908 
Denominator
Basic weighted-average shares outstanding875 903 883 908 
Dilutive stock options and stock units1 1 1 1 
Diluted weighted-average shares outstanding 1
876 905 884 909 
Earnings per Share
Basic$5.29 $4.35 $14.61 $12.02 
Diluted$5.28 $4.34 $14.59 $12.00 
Note: Table may not sum due to rounding.
1    For the periods presented, the calculation of diluted EPS excluded a minimal amount of anti-dilutive share-based payment awards.
v3.26.3
Investments (Tables)
 9 Months Ended
Sep. 30, 2026
Investments, Debt and Equity Securities [Abstract]  
Investments On the Consolidated Balance Sheet
Investments on the consolidated balance sheets consisted of the following:
September 30,
2026		December 31,
2025
(in millions)
Available-for-sale securities
$317 $319 
Held-to-maturity securities 1
— 13 
Total investments $317 $332 
1Held-to-maturity securities represent investments in time deposits that mature within one year. The cost of these securities approximates fair value.
Maturity Distribution Based on Contractual Terms of Investment Securities
The maturity distribution based on the contractual terms of the Company’s available-for-sale investment securities at September 30, 2026 was as follows:
Amortized CostFair Value
(in millions)
Due within 1 year$118 $118 
Due after 1 year through 5 years202 199 
Total$320 $317 
Schedule of Equity Investments
The following table is a summary of the activity related to the Company’s equity investments:
December 31,
2025		PurchasesSales
Changes in Fair Value 1
Other 2
September 30,
2026
(in millions)
Marketable securities $203 $— $(100)$(45)$(1)$57 
Nonmarketable securities1,502 161 (9)(28)(12)1,614 
Total equity investments $1,705 $161 $(109)$(73)$(13)$1,671 
1Recorded in gains (losses) on equity investments, net on the consolidated statements of operations.
2Primarily translational impact of currency.
Nonmarketable securities The following table sets forth the components of the Company’s Nonmarketable securities:
September 30,
2026		December 31,
2025
(in millions)
Measurement alternative
$1,307 $1,242 
Equity method
307 260 
Total Nonmarketable securities$1,614 $1,502 
Carrying Value of Measurement Alternative Investments
The following table summarizes the total carrying value of the Company’s Measurement alternative investments, including cumulative unrealized gains and losses through September 30, 2026:
(in millions)
Initial cost basis
$1,045 
Cumulative adjustments 1:
Upward adjustments529 
Downward adjustments (including impairment)(267)
Carrying amount, end of period$1,307 
1 Includes immaterial translational impact of currency.
Unrealized Gains (Losses) Included in the Carrying Value of Measurement Alternative Investments
The following table summarizes the unrealized gains and losses included in the carrying value of the Company’s Measurement alternative investments and Marketable securities:
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
(in millions)
Measurement alternative investments:
Upward adjustments$13 $25 $14 $31 
Downward adjustments (including impairment)(22)(2)(45)(32)
Marketable securities:
Unrealized gains (losses), net— 14 (50)11 
v3.26.3
Fair Value Measurements (Tables)
 9 Months Ended
Sep. 30, 2026
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]  
Distribution of Financial Instruments, Measured at Fair Value on a Recurring Basis
The distribution of the Company’s financial instruments measured at fair value on a recurring basis within the Valuation Hierarchy was as follows:
September 30, 2026December 31, 2025
Quoted Prices
in Active
Markets
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)		TotalQuoted Prices
in Active
Markets
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)		Total
(in millions)
Assets
Investment securities:
Available-for-sale securities 1
$25 $292 $— $317 $20 $299 $— $319 
Derivative instruments 2:
Foreign exchange contracts— 26 — 26 — 35 — 35 
Marketable securities 3:
Equity securities57 — — 57 203 — — 203 
Liabilities
Derivative instruments 2:
Foreign exchange contracts$— $62 $— $62 $— $160 $— $160 
Interest rate contracts — 15 — 15 — 27 — 27 
1The Company’s U.S. government securities are classified within Level 1 of the Valuation Hierarchy as the fair values are based on unadjusted quoted prices for identical assets in active markets. The fair value of the Company’s available-for-sale non-U.S. government and agency securities, corporate securities and asset-backed securities are based on observable inputs such as quoted prices, benchmark yields and issuer spreads for similar assets in active markets and are therefore included in Level 2 of the Valuation Hierarchy.
2The Company’s foreign exchange and interest rate derivative asset and liability contracts measured at fair value are based on observable inputs such as broker quotes for similar derivative instruments. See Note 16 (Derivative and Hedging Instruments) for further details.
3The Company’s Marketable securities are publicly held and fair values are based on unadjusted quoted prices in their respective active markets.
v3.26.3
Prepaid Expenses and Other Assets (Tables)
 9 Months Ended
Sep. 30, 2026
Prepaid Expense and Other Assets [Abstract]  
Schedule of Prepaid Expenses and Other Current Assets
Prepaid expenses and other current assets consisted of the following:
September 30,
2026		December 31,
2025
(in millions)
Customer incentives
$2,716 $2,531 
Other1,654 1,212 
Total prepaid expenses and other current assets$4,370 $3,743 
Schedule of Other Assets, Noncurrent
Other assets consisted of the following:
September 30,
2026		December 31,
2025
(in millions)
Customer incentives
$8,908 $7,870 
Equity investments1,671 1,705 
Income taxes receivable1,126 1,101 
Other1,241 939 
Total other assets$12,946 $11,615 
v3.26.3
Accrued Expenses (Tables)
 9 Months Ended
Sep. 30, 2026
Accrued Liabilities, Current [Abstract]  
Accrued Expenses
Accrued expenses consisted of the following:
September 30,
2026		December 31,
2025
(in millions)
Customer incentives
$10,333 $9,958 
Personnel costs1,394 1,716 
Income and other taxes1,474 914 
Other749 684 
Total accrued expenses$13,950 $13,272 
v3.26.3
Debt (Tables)
 9 Months Ended
Sep. 30, 2026
Debt Disclosure [Abstract]  
Schedule of Long-term Debt
Debt consisted of the following:
September 30,
2026		December 31,
2025		Effective
Interest Rate
(in millions)
Senior Notes
2026 USD NotesFloating RateSenior Notes due June 2028$500 $— **
4.325 %Senior Notes due June 20281,250 — 4.499 %
4.425 %Senior Notes due June 20291,150 — 4.561 %
4.600 %Senior Notes due June 20311,350 — 4.704 %
5.000 %Senior Notes due June 2036750 — 5.063 %
2025 USD Notes
Floating Rate
Senior Notes due March 2028
300 300 
**
4.550 %
Senior Notes due March 2028
450 450 4.727 %
4.950 %
Senior Notes due March 2032
500 500 5.063 %
2024 USD Notes
4.100 %
Senior Notes due January 2028
750 750 4.262 %
4.350 %
Senior Notes due January 2032
1,150 1,150 4.446 %
4.550 %
Senior Notes due January 2035
1,100 1,100 4.633 %
4.875 %
Senior Notes due May 2034
1,000 1,000 5.047 %
2023 USD Notes4.875 %Senior Notes due March 2028750 750 5.003 %
4.850 %Senior Notes due March 2033750 750 4.923 %
2022 EUR Notes
1.000 %Senior Notes due February 2029852 882 1.138 %
2021 USD Notes2.000 %Senior Notes due November 2031750 750 2.112 %
1.900 %Senior Notes due March 2031600 600 1.981 %
2.950 %Senior Notes due March 2051700 700 3.013 %
2020 USD Notes3.300 %Senior Notes due March 20271,000 1,000 3.420 %
3.350 %Senior Notes due March 20301,500 1,500 3.430 %
3.850 %Senior Notes due March 20501,500 1,500 3.896 %
2019 USD Notes2.950 %Senior Notes due June 20291,000 1,000 3.030 %
3.650 %Senior Notes due June 20491,000 1,000 3.689 %
2018 USD Notes3.500 %Senior Notes due February 2028500 500 3.598 %
3.950 %Senior Notes due February 2048500 500 3.990 %
2016 USD Notes2.950 %Senior Notes due November 2026750 750 3.044 %
3.800 %Senior Notes due November 2046600 600 3.893 %
2015 EUR Notes
2.100 %Senior Notes due December 2027909 941 2.189 %
2.500 %Senior Notes due December 2030170 176 2.562 %
24,081 19,149 
Less: Unamortized discount and debt issuance costs(128)(122)
Less: Cumulative hedge accounting fair value adjustments 1
(15)(27)
Total debt outstanding23,938 19,000 
Less: Short-term debt 2
(1,749)(749)
Long-term debt$22,189 $18,251 
**The $500 million of Senior Notes due June 2028 and the $300 million of Senior Notes due March 2028 are Floating Rate Notes that bear interest at a floating rate, reset quarterly, equal to the Compounded Secured Overnight Financing Rate (“SOFR”) plus 0.39% and 0.44%, respectively.
1The Company has an interest rate swap that is accounted for as a fair value hedge. See Note 16 (Derivative and Hedging Instruments) for additional information.
2As of September 30, 2026, the 2016 USD Notes due November 2026 and the 2020 USD Notes due March 2027 were classified as short-term debt, net of unamortized discount and debt issuance costs, on the consolidated balance sheets. As of December 31, 2025, the 2016 USD Notes due November 2026 were classified as short-term debt, net of unamortized discount and debt issuance costs, on the consolidated balance sheets.
v3.26.3
Stockholders' Equity (Tables)
 9 Months Ended
Sep. 30, 2026
Equity [Abstract]  
Schedule of quarterly cash dividends declared
The Company declared quarterly cash dividends on its Class A and Class B common stock as summarized below: 
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
(in millions, except per share data)
Dividends declared per share $0.87 $0.76 $2.61 $2.28 
Total dividends declared$759 $684 $2,293 $2,063 
Schedule of Common Stock Outstanding
The following table presents the changes in the Company’s outstanding Class A and Class B common stock:
Three Months Ended September 30,
20262025
Class AClass BClass AClass B
(in millions)
Balance at beginning of period870.7 6.5 899.1 6.7 
Purchases of treasury stock(5.3)— (5.8)— 
Share-based payments0.2 — 0.1 — 
Conversion of Class B to Class A common stock— — — — 
Balance at end of period865.6 6.5 893.4 6.7 
Nine Months Ended September 30,
20262025
Class AClass BClass AClass B
(in millions)
Balance at beginning of period887.3 6.6 906.6 6.8 
Purchases of treasury stock(22.9)— (14.7)— 
Share-based payments1.1 — 1.4 — 
Conversion of Class B to Class A common stock0.1 (0.1)0.1 (0.1)
Balance at end of period865.6 6.5 893.4 6.7 
Schedule of Share Repurchases The following table summarizes the Company’s share repurchases of its Class A common stock:
Nine Months Ended September 30,
20262025
(in millions, except per share data)
Dollar-value of shares repurchased
$11,893 $8,169 
Shares repurchased22.9 14.7 
Average price paid per share$520.64 $554.47 
v3.26.3
Accumulated Other Comprehensive Income (Loss) (Tables)
 9 Months Ended
Sep. 30, 2026
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Schedule of Accumulated Other Comprehensive Income (Loss)
The changes in the balances of each component of accumulated other comprehensive income (loss), net of tax, for the nine months ended September 30, 2026 and 2025 were as follows:
December 31, 2025Increase / (Decrease)ReclassificationsSeptember 30, 2026
(in millions)
Foreign currency translation adjustments 1
$(1,034)$(32)$— $(1,066)
Translation adjustments on net investment hedges 2
126 56 — 182 
Cash flow hedges
Foreign exchange contracts 3
46 108 (146)8 
Interest rate contracts(107)— 4 (103)
Defined benefit pension and other postretirement plans(12)— — (12)
Investment securities available-for-sale— (3)— (3)
Accumulated other comprehensive income (loss)$(981)$129 $(142)$(994)
December 31, 2024Increase / (Decrease)ReclassificationsSeptember 30, 2025
(in millions)
Foreign currency translation adjustments 1
$(1,558)$581 $— $(977)
Translation adjustments on net investment hedges 2
295 (164)— 131 
Cash flow hedges
Foreign exchange contracts 3
(51)(293)370 26 
Interest rate contracts(113)— 4 (109)
Defined benefit pension and other postretirement plans(6)— — (6)
Accumulated other comprehensive income (loss)$(1,433)$124 $374 $(935)
1For the nine months ended September 30, 2026, the increase in the accumulated other comprehensive loss related to foreign currency translation adjustments was driven primarily by the depreciation of the British pound and euro, partially offset by the appreciation of the Brazilian Real against the U.S. dollar. For the nine months ended September 30, 2025, the decrease in the accumulated other comprehensive loss related to foreign currency translation adjustments was driven primarily by the appreciation of the euro, British pound and Brazilian real against the U.S. dollar.
2For the nine months ended September 30, 2026, the increase in the accumulated other comprehensive income related to the net investment hedges was driven primarily by the depreciation of the euro against the U.S. dollar. For the nine months ended September 30, 2025, the decrease in the accumulated other comprehensive income related to the net investment hedges was driven primarily by the appreciation of the euro against the U.S. dollar. See Note 16 (Derivative and Hedging Instruments) for additional information.
3Represents foreign exchange derivative contracts designated as cash flow hedging instruments. Gains and losses resulting from changes in the fair value of these contracts are deferred in accumulated other comprehensive income (loss) and subsequently reclassified to the consolidated statements of operations when the underlying hedged transactions impact earnings. See Note 16 (Derivative and Hedging Instruments) for additional information.
v3.26.3
Share-Based Payments (Tables)
 9 Months Ended
Sep. 30, 2026
Share-Based Payment Arrangement, Additional Disclosure [Abstract]  
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan
For the nine months ended September 30, 2026, the Company granted the following awards under the Mastercard Incorporated 2006 Long Term Incentive Plan, amended and restated as of June 22, 2021 (the “LTIP”). The LTIP is a stockholder-approved plan that permits the grant of various types of equity awards to employees.
Grants in 2026Weighted-Average
Grant-Date
Fair Value
(in millions)(per option/unit)
Non-qualified stock options0.2$165 
Restricted stock units1.1$512 
Performance stock units0.2$503 
v3.26.3
Settlement and Other Risk Management (Tables)
 9 Months Ended
Sep. 30, 2026
Settlement and Other Risk Management [Abstract]  
Estimated Settlement Exposure and Portion of Uncollateralized Settlement Exposure for Mastercard-Branded Transactions
The Company’s estimated settlement exposure was as follows:
September 30,
2026		December 31,
2025
(in millions)
Gross settlement exposure
$94,646 $89,599 
Risk mitigation arrangements applied to settlement exposure
(16,870)(16,722)
Net settlement exposure
$77,776 $72,877 
v3.26.3
Derivative and Hedging Instruments (Tables)
 9 Months Ended
Sep. 30, 2026
Foreign Currency Derivatives [Abstract]  
Fair value of Company's derivative financial instruments
The following table summarizes the fair value of the Company’s derivative financial instruments and the related notional amounts:
September 30, 2026December 31, 2025
NotionalDerivative assetsDerivative liabilitiesNotionalDerivative assetsDerivative liabilities
(in millions)
Derivatives designated as hedging instruments
Foreign exchange contracts in a cash flow hedge 1
$4,468 $21 $20 $5,050 $16 $142 
Interest rate contracts in a fair value hedge 2
1,000 — 15 1,000 — 27 
Derivatives not designated as hedging instruments
Foreign exchange contracts 1
3,828 5 42 4,866 19 18 
Total
$9,296 $26 $77 $10,916 $35 $187 
1Foreign exchange derivative assets and liabilities are included within prepaid expenses and other current assets, other assets, other current liabilities and other liabilities on the consolidated balance sheets.
2Interest rate derivative liabilities are included within other current liabilities and other liabilities on the consolidated balance sheets.
Gain (loss) related to the Company's derivative financial instruments designated as hedging instruments
The pre-tax gain (loss) related to the Company’s foreign exchange derivative contracts designated as cash flow hedging instruments were as follows:
Gain (Loss)
Recognized in Other Comprehensive Income (Loss)
Gain (Loss)
Reclassified from Accumulated Other Comprehensive Income (Loss)
Three Months Ended September 30,
Location of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Earnings
Three Months Ended September 30,
2026202520262025
(in millions)(in millions)
Foreign exchange contracts 1
$5 $34 Net revenue$5 $(16)
General and administrative 2
$26 $10 
Gain (Loss)
Recognized in Other Comprehensive Income (Loss)		Gain (Loss)
Reclassified from Accumulated Other Comprehensive Income (Loss)
Nine Months Ended September 30,Location of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into EarningsNine Months Ended September 30,
2026202520262025
(in millions)(in millions)
Foreign exchange contracts 1
$111 $(314)Net revenue$(16)$(31)
General and administrative 2
$158 $(346)
1Includes immaterial forward points excluded from the effectiveness assessment recognized in other comprehensive income (loss).
2Includes immaterial forward points excluded from the effectiveness assessment recognized in earnings.
Gain (loss) in income for contracts designated as net investment hedging instruments
The pre-tax gain (loss) recognized in other comprehensive income (loss) related to the Company's foreign exchange derivative contracts designated as net investment hedging instruments were as follows:
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
(in millions)
Foreign exchange contracts$— $— $3 $12 
Gain (loss) recognized in income for non-designated derivative contracts
The amount of gain (loss) recognized on the consolidated statements of operations for non-designated derivative contracts were as follows: 
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
(in millions)
Foreign exchange contracts
General and administrative$17 $(19)$(34)$61 
v3.26.3
Segment Reporting (Tables)
 9 Months Ended
Sep. 30, 2026
Segment Reporting [Abstract]  
Segment Reporting The following represents the selected financial information of the Payment Solutions segment:
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
(in millions)
Net revenue
$9,807 $8,602 $27,482 $23,985 
Less:
Personnel
2,028 1,893 6,012 5,433 
Professional fees
162 128 414 348 
Data processing and telecommunications
386 324 1,104 930 
Foreign exchange activity
42 26 159 68 
Advertising and marketing
252 245 622 610 
Depreciation and amortization
326 290 934 846 
Provision for litigation
74 83 156 330 
Investment income
(88)(81)(257)(239)
(Gains) losses on equity investments, net
5 (41)73 (16)
Interest expense
250 186 653 563 
Other (income) expense, net
(46)(2)(152)(23)
Income tax expense
1,113 1,072 3,141 2,794 
Other segment items 1
675 552 1,725 1,433 
Consolidated net income
$4,628 $3,927 $12,898 $10,908 
1Includes fulfillment costs, occupancy costs, travel and meeting expenses and other overhead expenses.
v3.26.3
Acquisitions - Narrative (Details) - USD ($)
$ in Millions
Aug. 03, 2026
Sep. 30, 2026
Dec. 31, 2025
Business Combination [Line Items]      
Goodwill   $ 10,804 $ 9,560
BVNK Holdings Limited      
Business Combination [Line Items]      
Business combination, interest acquired 100.00%    
Business acquisition, total consideration $ 1,400    
Business combination, contingent consideration, liability 300    
Goodwill $ 1,271    
v3.26.3
Acquisitions - Schedule of Recognized Identified Assets Acquired and Liabilities Assumed (Details) - USD ($)
$ in Millions
Sep. 30, 2026
Aug. 03, 2026
Dec. 31, 2025
Assets:      
Goodwill $ 10,804   $ 9,560
BVNK Holdings Limited      
Assets:      
Cash and cash equivalents   $ 13  
Prepaid expenses and other current assets   27  
Goodwill   1,271  
Other intangible assets, net   363  
Other assets   32  
Total assets   1,706  
Liabilities:      
Other current liabilities   11  
Other liabilities   139  
Total liabilities   150  
Net assets acquired   $ 1,556  
v3.26.3
Acquisitions - Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination (Details) - BVNK Holdings Limited
$ in Millions
Aug. 03, 2026
USD ($)
Business Combination [Line Items]  
Acquisition Date Fair Value $ 363
Weighted-Average Useful Life 10 years 8 months 12 days
Developed Technologies  
Business Combination [Line Items]  
Acquisition Date Fair Value $ 238
Weighted-Average Useful Life 9 years
Customer Relationships  
Business Combination [Line Items]  
Acquisition Date Fair Value $ 125
Weighted-Average Useful Life 14 years
v3.26.3
Revenue - Disaggregation of Revenue (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
Disaggregation of Revenue [Line Items]        
Net Revenue $ 9,807 $ 8,602 $ 27,482 $ 23,985
Americas 1        
Disaggregation of Revenue [Line Items]        
Net Revenue 4,190 3,651 11,754 10,207
Asia Pacific, Europe, Middle East and Africa        
Disaggregation of Revenue [Line Items]        
Net Revenue 5,617 4,951 15,728 13,778
Payment network        
Disaggregation of Revenue [Line Items]        
Net Revenue 5,749 5,179 16,148 14,556
Value-added services and solutions        
Disaggregation of Revenue [Line Items]        
Net Revenue $ 4,058 $ 3,423 $ 11,334 $ 9,429
v3.26.3
Revenue - Location on Balance Sheet of Amounts Recognized From Contracts With Customers (Details) - USD ($)
$ in Millions
Sep. 30, 2026
Dec. 31, 2025
Location, Statement of Financial Position, Balance [Axis]: us-gaap:AccountsReceivableNetCurrent    
Disaggregation of Revenue [Line Items]    
Accounts receivable and contract assets $ 4,330 $ 4,010
Location, Statement of Financial Position, Balance [Axis]: us-gaap:OtherAssetsNoncurrent    
Disaggregation of Revenue [Line Items]    
Accounts receivable and contract assets 564 508
Location, Statement of Financial Position, Balance [Axis]: us-gaap:OtherLiabilitiesCurrent    
Disaggregation of Revenue [Line Items]    
Deferred revenue 1,511 1,137
Location, Statement of Financial Position, Balance [Axis]: us-gaap:OtherLiabilitiesNoncurrent    
Disaggregation of Revenue [Line Items]    
Deferred revenue 329 424
Location, Statement of Financial Position, Balance [Axis]: us-gaap:PrepaidExpenseAndOtherAssetsCurrent    
Disaggregation of Revenue [Line Items]    
Accounts receivable and contract assets $ 161 $ 189
v3.26.3
Revenue - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2026
Sep. 30, 2026
Revenue from Contract with Customer [Abstract]    
Revenue recognized from performance obligations $ 1,112 $ 2,831
v3.26.3
Earnings Per Share - Schedule of Basic and Diluted Earnings Per Share (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
Numerator        
Net income $ 4,628 $ 3,927 $ 12,898 $ 10,908
Denominator        
Basic weighted-average shares outstanding (in shares) 875 903 883 908
Dilutive stock options and stock units (in shares) 1 1 1 1
Diluted weighted-average shares outstanding (in shares) 876 905 884 909
Earnings per Share        
Basic (in dollars per share) $ 5.29 $ 4.35 $ 14.61 $ 12.02
Diluted (in dollars per share) $ 5.28 $ 4.34 $ 14.59 $ 12.00
v3.26.3
Investments - Investments (Details) - USD ($)
$ in Millions
Sep. 30, 2026
Dec. 31, 2025
Investments, Debt and Equity Securities [Abstract]    
Available-for-sale securities $ 317 $ 319
Held-to-maturity securities 0 13
Total investments $ 317 $ 332
v3.26.3
Investments - Maturity Distribution Based on Contractual Terms of Investment Securities (Details) - USD ($)
$ in Millions
Sep. 30, 2026
Dec. 31, 2025
Available-For-Sale Amortized Cost    
Due within 1 year $ 118  
Due after 1 year through 5 years 202  
Debt Securities, Available-for-Sale, Amortized Cost, Total 320  
Available-For-Sale Fair Value    
Due within 1 year 118  
Due after 1 year through 5 years 199  
Total $ 317 $ 319
v3.26.3
Investments - Equity Investments (Details)
$ in Millions
 9 Months Ended
Sep. 30, 2026
USD ($)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]  
Balance, beginning of period $ 1,705
Purchases 161
Sales (109)
Changes in fair value (73)
Other (13)
Balance, end of period 1,671
Marketable Securities  
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]  
Balance, beginning of period 203
Purchases 0
Sales (100)
Changes in fair value (45)
Other (1)
Balance, end of period 57
Nonmarketable Securities  
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]  
Balance, beginning of period 1,502
Purchases 161
Sales (9)
Changes in fair value (28)
Other (12)
Balance, end of period $ 1,614
v3.26.3
Investments - Equity Securities without Readily Determinable Fair Value (Details) - USD ($)
$ in Millions
Sep. 30, 2026
Dec. 31, 2025
Nonmarketable Securities [Abstract]    
Measurement alternative $ 1,307 $ 1,242
Equity method 307 260
Total Nonmarketable securities $ 1,614 $ 1,502
v3.26.3
Investments - Carrying Value of Measurement Alternative Investments (Details) - USD ($)
$ in Millions
Sep. 30, 2026
Dec. 31, 2025
Investments, Debt and Equity Securities [Abstract]    
Alternative Investment, Initial Cost Basis $ 1,045  
Alternative Investment, Upward Price Adjustment, Cumulative Amount 529  
Alternative Investment, Downward Price Adjustment Including Impairment, Cumulative Amount (267)  
Measurement alternative $ 1,307 $ 1,242
v3.26.3
Investments - Unrealized Gains (Losses) Included in the Carrying Value of Measurement Alternative Investments and Marketable Securities (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
Investments, Debt and Equity Securities [Abstract]        
Upward adjustments $ 13 $ 25 $ 14 $ 31
Downward adjustments (including impairment) (22) (2) (45) (32)
Unrealized gains (losses), net $ 0 $ 14 $ (50) $ 11
v3.26.3
Fair Value Measurements - Distribution of Financial Instruments, Measured at Fair Value on a Recurring Basis (Details) - USD ($)
$ in Millions
Sep. 30, 2026
Dec. 31, 2025
Fair Value, Option, Quantitative Disclosures [Line Items]    
Available-for-sale securities 1 $ 317 $ 319
Fair Value, Inputs, Level 1    
Fair Value, Option, Quantitative Disclosures [Line Items]    
Available-for-sale securities 1 25 20
Fair Value, Inputs, Level 2    
Fair Value, Option, Quantitative Disclosures [Line Items]    
Available-for-sale securities 1 292 299
Fair Value, Inputs, Level 3    
Fair Value, Option, Quantitative Disclosures [Line Items]    
Available-for-sale securities 1 0 0
Equity securities    
Fair Value, Option, Quantitative Disclosures [Line Items]    
Equity securities 57 203
Equity securities | Fair Value, Inputs, Level 1    
Fair Value, Option, Quantitative Disclosures [Line Items]    
Equity securities 57 203
Equity securities | Fair Value, Inputs, Level 2    
Fair Value, Option, Quantitative Disclosures [Line Items]    
Equity securities 0 0
Equity securities | Fair Value, Inputs, Level 3    
Fair Value, Option, Quantitative Disclosures [Line Items]    
Equity securities 0 0
Foreign exchange contracts    
Fair Value, Option, Quantitative Disclosures [Line Items]    
Foreign exchange contracts 26 35
Foreign exchange derivative liabilities 62 160
Foreign exchange contracts | Fair Value, Inputs, Level 1    
Fair Value, Option, Quantitative Disclosures [Line Items]    
Foreign exchange contracts 0 0
Foreign exchange derivative liabilities 0 0
Foreign exchange contracts | Fair Value, Inputs, Level 2    
Fair Value, Option, Quantitative Disclosures [Line Items]    
Foreign exchange contracts 26 35
Foreign exchange derivative liabilities 62 160
Foreign exchange contracts | Fair Value, Inputs, Level 3    
Fair Value, Option, Quantitative Disclosures [Line Items]    
Foreign exchange contracts 0 0
Foreign exchange derivative liabilities 0 0
Interest rate contracts    
Fair Value, Option, Quantitative Disclosures [Line Items]    
Foreign exchange derivative liabilities 15 27
Interest rate contracts | Fair Value, Inputs, Level 1    
Fair Value, Option, Quantitative Disclosures [Line Items]    
Foreign exchange derivative liabilities 0 0
Interest rate contracts | Fair Value, Inputs, Level 2    
Fair Value, Option, Quantitative Disclosures [Line Items]    
Foreign exchange derivative liabilities 15 27
Interest rate contracts | Fair Value, Inputs, Level 3    
Fair Value, Option, Quantitative Disclosures [Line Items]    
Foreign exchange derivative liabilities $ 0 $ 0
v3.26.3
Fair Value Measurements - Narrative Fair Value (Details) - USD ($)
$ in Millions
Sep. 30, 2026
Dec. 31, 2025
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt, long-term and short-term, combined amount $ 23,938 $ 19,000
Fair Value    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Long-term debt, fair value $ 21,900 $ 18,000
v3.26.3
Prepaid Expenses and Other Assets - Schedule of Prepaid Expenses (Details) - USD ($)
$ in Millions
Sep. 30, 2026
Dec. 31, 2025
Prepaid Expense and Other Assets [Abstract]    
Customer incentives $ 2,716 $ 2,531
Other 1,654 1,212
Total prepaid expenses and other current assets $ 4,370 $ 3,743
v3.26.3
Prepaid Expenses and Other Assets - Schedule of Other Assets (Details) - USD ($)
$ in Millions
Sep. 30, 2026
Dec. 31, 2025
Prepaid Expense and Other Assets [Abstract]    
Customer incentives $ 8,908 $ 7,870
Equity investments 1,671 1,705
Income taxes receivable 1,126 1,101
Other 1,241 939
Total other assets $ 12,946 $ 11,615
v3.26.3
Accrued Expenses - Accrued Expenses (Details) - USD ($)
$ in Millions
Sep. 30, 2026
Dec. 31, 2025
Accrued Liabilities, Current [Abstract]    
Customer incentives $ 10,333 $ 9,958
Personnel costs 1,394 1,716
Income and other taxes 1,474 914
Other 749 684
Total accrued expenses $ 13,950 $ 13,272
v3.26.3
Accrued Expenses - Accrued Expense (Details) - USD ($)
$ in Millions
Sep. 30, 2026
Dec. 31, 2025
Accrued Liabilities, Current [Abstract]    
Long-term customer and merchant incentives $ 2,550 $ 3,041
v3.26.3
Debt - Schedule of Long-term Debt (Details) - USD ($)
 9 Months Ended
Sep. 30, 2026
Dec. 31, 2025
Debt Instrument [Line Items]    
Long-term debt, gross $ 24,081,000,000 $ 19,149,000,000
Less: Unamortized discount and debt issuance costs (128,000,000) (122,000,000)
Less: Cumulative hedge accounting fair value adjustment (15,000,000) (27,000,000)
Total debt outstanding 23,938,000,000 19,000,000,000
Less: short-term debt (1,749,000,000) (749,000,000)
Long-term debt 22,189,000,000 18,251,000,000
Commercial Paper Program | Commercial Paper    
Debt Instrument [Line Items]    
Commercial Paper 0 0
Senior Notes | Floating Rate June 2028 Notes    
Debt Instrument [Line Items]    
Long-term debt, gross $ 500,000,000 0
Debt instrument, basis spread on variable rate 0.39%  
Senior Notes | June 2028 Notes Member    
Debt Instrument [Line Items]    
Stated interest rate 4.325%  
Long-term debt, gross $ 1,250,000,000 0
Effective interest rate 4.499%  
Senior Notes | 4.425% June 2029 Notes    
Debt Instrument [Line Items]    
Stated interest rate 4.425%  
Long-term debt, gross $ 1,150,000,000 0
Effective interest rate 4.561%  
Senior Notes | June 2031 Notes    
Debt Instrument [Line Items]    
Stated interest rate 4.60%  
Long-term debt, gross $ 1,350,000,000 0
Effective interest rate 4.704%  
Senior Notes | June 2036 Notes    
Debt Instrument [Line Items]    
Stated interest rate 5.00%  
Long-term debt, gross $ 750,000,000 0
Effective interest rate 5.063%  
Senior Notes | Floating Rate March 2028 Notes    
Debt Instrument [Line Items]    
Long-term debt, gross $ 300,000,000 300,000,000
Debt instrument, basis spread on variable rate 0.44%  
Senior Notes | 4.550% March 2028 Notes    
Debt Instrument [Line Items]    
Stated interest rate 4.55%  
Long-term debt, gross $ 450,000,000 450,000,000
Effective interest rate 4.727%  
Senior Notes | March 2032 Notes    
Debt Instrument [Line Items]    
Stated interest rate 4.95%  
Long-term debt, gross $ 500,000,000 500,000,000
Effective interest rate 5.063%  
Senior Notes | January 2028 Notes    
Debt Instrument [Line Items]    
Stated interest rate 4.10%  
Long-term debt, gross $ 750,000,000 750,000,000
Effective interest rate 4.262%  
Senior Notes | January 2032 Notes    
Debt Instrument [Line Items]    
Stated interest rate 4.35%  
Long-term debt, gross $ 1,150,000,000 1,150,000,000
Effective interest rate 4.446%  
Senior Notes | January 2035 Notes    
Debt Instrument [Line Items]    
Stated interest rate 4.55%  
Long-term debt, gross $ 1,100,000,000 1,100,000,000
Effective interest rate 4.633%  
Senior Notes | May 2034 Notes    
Debt Instrument [Line Items]    
Stated interest rate 4.875%  
Long-term debt, gross $ 1,000,000,000 1,000,000,000
Effective interest rate 5.047%  
Senior Notes | 4.875% March 2028 Notes    
Debt Instrument [Line Items]    
Stated interest rate 4.875%  
Long-term debt, gross $ 750,000,000 750,000,000
Effective interest rate 5.003%  
Senior Notes | March 2033 Notes    
Debt Instrument [Line Items]    
Stated interest rate 4.85%  
Long-term debt, gross $ 750,000,000 750,000,000
Effective interest rate 4.923%  
Senior Notes | February 2029 Notes    
Debt Instrument [Line Items]    
Stated interest rate 1.00%  
Long-term debt, gross $ 852,000,000 882,000,000
Effective interest rate 1.138%  
Senior Notes | November 2031 Notes    
Debt Instrument [Line Items]    
Stated interest rate 2.00%  
Long-term debt, gross $ 750,000,000 750,000,000
Effective interest rate 2.112%  
Senior Notes | March 2031 Notes    
Debt Instrument [Line Items]    
Stated interest rate 1.90%  
Long-term debt, gross $ 600,000,000 600,000,000
Effective interest rate 1.981%  
Senior Notes | March 2051 Notes    
Debt Instrument [Line Items]    
Stated interest rate 2.95%  
Long-term debt, gross $ 700,000,000 700,000,000
Effective interest rate 3.013%  
Senior Notes | 2027 Notes    
Debt Instrument [Line Items]    
Stated interest rate 3.30%  
Long-term debt, gross $ 1,000,000,000 1,000,000,000
Effective interest rate 3.42%  
Senior Notes | 2030 Notes    
Debt Instrument [Line Items]    
Stated interest rate 3.35%  
Long-term debt, gross $ 1,500,000,000 1,500,000,000
Effective interest rate 3.43%  
Senior Notes | Senior Notes Due March 2050    
Debt Instrument [Line Items]    
Stated interest rate 3.85%  
Long-term debt, gross $ 1,500,000,000 1,500,000,000
Effective interest rate 3.896%  
Senior Notes | 2.950% 2029 Notes    
Debt Instrument [Line Items]    
Stated interest rate 2.95%  
Long-term debt, gross $ 1,000,000,000 1,000,000,000
Effective interest rate 3.03%  
Senior Notes | 2049 Notes    
Debt Instrument [Line Items]    
Stated interest rate 3.65%  
Long-term debt, gross $ 1,000,000,000 1,000,000,000
Effective interest rate 3.689%  
Senior Notes | 2028 Notes    
Debt Instrument [Line Items]    
Stated interest rate 3.50%  
Long-term debt, gross $ 500,000,000 500,000,000
Effective interest rate 3.598%  
Senior Notes | 2048 Notes    
Debt Instrument [Line Items]    
Stated interest rate 3.95%  
Long-term debt, gross $ 500,000,000 500,000,000
Effective interest rate 3.99%  
Senior Notes | 2026 Notes    
Debt Instrument [Line Items]    
Stated interest rate 2.95%  
Long-term debt, gross $ 750,000,000 750,000,000
Effective interest rate 3.044%  
Senior Notes | 2046 Notes    
Debt Instrument [Line Items]    
Stated interest rate 3.80%  
Long-term debt, gross $ 600,000,000 600,000,000
Effective interest rate 3.893%  
Senior Notes | 2.1% Notes due 2027    
Debt Instrument [Line Items]    
Stated interest rate 2.10%  
Long-term debt, gross $ 909,000,000 941,000,000
Effective interest rate 2.189%  
Senior Notes | 2.5% Notes due 2030    
Debt Instrument [Line Items]    
Stated interest rate 2.50%  
Long-term debt, gross $ 170,000,000 $ 176,000,000
Effective interest rate 2.562%  
v3.26.3
Debt - Narrative (Details) - USD ($)
 9 Months Ended
Sep. 30, 2026
Dec. 31, 2025
Debt Instrument [Line Items]    
Long-term debt, gross $ 24,081,000,000 $ 19,149,000,000
2026 USD Notes | Senior Notes    
Debt Instrument [Line Items]    
Long-term debt, gross 5,000,000,000.000  
Proceeds from debt, net of issuance costs 4,978,000,000  
Commercial Paper Program | Commercial Paper    
Debt Instrument [Line Items]    
Commercial paper, maximum borrowing capacity 8,000,000,000  
Commercial Paper $ 0 0
Short-Term Debt | Maximum | Commercial Paper    
Debt Instrument [Line Items]    
Commercial paper, maturity term, maximum 397 days  
2026 Credit Facility | Line of Credit | Revolving Credit Facility    
Debt Instrument [Line Items]    
Credit Facility, Expiration Period 5 years  
Credit facility, maximum borrowing capacity $ 8,000,000,000  
Credit facility borrowings $ 0 $ 0
v3.26.3
Stockholders' Equity - Dividends Declared (Details) - USD ($)
$ / shares in Units, $ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
Dividends Payable [Line Items]        
Dividends declared per share $ 0.87 $ 0.76 $ 2.61 $ 2.28
Total dividends declared $ 759 $ 684 $ 2,293 $ 2,063
v3.26.3
Stockholders' Equity - Common Stock Shares Activity (Details) - shares
shares in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Purchases of treasury stock     (22.9) (14.7)
Common Stock | Class A        
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Balance at beginning of period 870.7 899.1 887.3 906.6
Purchases of treasury stock (5.3) (5.8) (22.9) (14.7)
Share-based payments 0.2 0.1 1.1 1.4
Conversion of Class B to Class A common stock 0.0 0.0 0.1 0.1
Balance at end of period 865.6 893.4 865.6 893.4
Common Stock | Class B        
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Balance at beginning of period 6.5 6.7 6.6 6.8
Purchases of treasury stock 0.0 0.0 0.0 0.0
Share-based payments 0.0 0.0 0.0 0.0
Conversion of Class B to Class A common stock 0.0 0.0 (0.1) (0.1)
Balance at end of period 6.5 6.7 6.5 6.7
v3.26.3
Stockholders' Equity - Narrative (Details) - USD ($)
 1 Months Ended 9 Months Ended
Oct. 26, 2026
Sep. 30, 2026
Sep. 30, 2025
Dec. 31, 2025
Dec. 31, 2024
Equity, Class of Treasury Stock [Line Items]          
Remaining authorization   $ 5,600,000,000      
Dollar-value of shares repurchased   $ 11,893,000,000 $ 8,169,000,000    
Subsequent Event          
Equity, Class of Treasury Stock [Line Items]          
Remaining authorization $ 4,900,000,000        
Dollar-value of shares repurchased $ 600,000,000        
Share Repurchase Plan          
Equity, Class of Treasury Stock [Line Items]          
Authorized amounts under stock repurchase program       $ 14,000,000,000.0 $ 12,000,000,000.0
v3.26.3
Stockholders' Equity - Schedule of Share Repurchases and Authorizations (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Equity [Abstract]    
Dollar-value of shares repurchased $ 11,893 $ 8,169
Shares repurchased 22.9 14.7
Average price paid per share $ 520.64 $ 554.47
v3.26.3
Accumulated Other Comprehensive Income (Loss) (Details) - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
AOCI Attributable to Parent, Net of Tax [Roll Forward]    
Balance at beginning of period $ 7,746 $ 6,515
Balance at end of period 6,740 7,919
Foreign currency translation adjustments    
AOCI Attributable to Parent, Net of Tax [Roll Forward]    
Balance at beginning of period (1,034) (1,558)
Increase / (Decrease) (32) 581
Reclassifications 0 0
Balance at end of period (1,066) (977)
Translation adjustments on net investment hedge    
AOCI Attributable to Parent, Net of Tax [Roll Forward]    
Balance at beginning of period 126 295
Increase / (Decrease) 56 (164)
Reclassifications 0 0
Balance at end of period 182 131
Defined benefit pension and other postretirement plans    
AOCI Attributable to Parent, Net of Tax [Roll Forward]    
Balance at beginning of period (12) (6)
Increase / (Decrease) 0 0
Reclassifications 0 0
Balance at end of period (12) (6)
Investment securities available-for-sale    
AOCI Attributable to Parent, Net of Tax [Roll Forward]    
Balance at beginning of period 0  
Increase / (Decrease) (3)  
Reclassifications 0  
Balance at end of period (3)  
Accumulated other comprehensive income (loss)    
AOCI Attributable to Parent, Net of Tax [Roll Forward]    
Balance at beginning of period (981) (1,433)
Increase / (Decrease) 129 124
Reclassifications (142) 374
Balance at end of period (994) (935)
Foreign exchange contracts | Cash flow hedges    
AOCI Attributable to Parent, Net of Tax [Roll Forward]    
Balance at beginning of period 46 (51)
Increase / (Decrease) 108 (293)
Reclassifications (146) 370
Balance at end of period 8 26
Interest rate contracts | Cash flow hedges    
AOCI Attributable to Parent, Net of Tax [Roll Forward]    
Balance at beginning of period (107) (113)
Increase / (Decrease) 0 0
Reclassifications 4 4
Balance at end of period $ (103) $ (109)
v3.26.3
Share-Based Payments - Types of Equity Awards (Details)
shares in Millions
 9 Months Ended
Sep. 30, 2026
$ / shares
shares
Non-qualified stock options  
Share-Based Payments  
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | shares 0.2
Fair value of stock options, per share, estimated using a Black-Scholes option pricing model | $ / shares $ 165
Restricted stock units  
Share-Based Payments  
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | shares 1.1
Share-Based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted-Average Grant-Date Fair Value | $ / shares $ 512
Performance stock units  
Share-Based Payments  
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | shares 0.2
Share-Based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted-Average Grant-Date Fair Value | $ / shares $ 503
v3.26.3
Share-Based Payments - Narrative (Details)
 9 Months Ended
Sep. 30, 2026
Non-qualified stock options  
Share-Based Payments  
Share-Based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term 6 years
Share-Based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate 27.50%
Share-Based Compensation Arrangement By Share-based Payment Award Options Term 10 years
Share-Based Compensation Arrangement by Share-based Payment Award, Award Vesting Period 3 years
Restricted Stock Units (RSUs) Granted On or After March 1, 2020  
Share-Based Payments  
Share-Based Compensation Arrangement by Share-based Payment Award, Award Vesting Period 3 years
Performance stock units  
Share-Based Payments  
Share-Based Compensation Arrangement by Share-based Payment Award, Award Vesting Period 3 years
PSUs granted on or after March 1, 2019, shares issuable upon vesting, mandatory deferral period 1 year
v3.26.3
Income Taxes (Details)
 3 Months Ended 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
Income Tax Disclosure [Abstract]        
Effective income tax rate (as a percent) 19.40% 21.50% 19.60% 20.40%
v3.26.3
Legal and Regulatory Proceedings (Details)
£ in Millions, € in Billions
 9 Months Ended 12 Months Ended
Sep. 30, 2026
USD ($)
defendant
plaintiff
fax
Sep. 30, 2026
GBP (£)
defendant
plaintiff
fax
Sep. 30, 2026
EUR (€)
defendant
plaintiff
fax
Dec. 31, 2011
plaintiff
Oct. 31, 2026
complaint
Sep. 30, 2026
GBP (£)
Feb. 28, 2026
merchant
Dec. 31, 2025
USD ($)
Dec. 31, 2023
complaint
Dec. 31, 2018
Legal And Regulatory                    
Accrued litigation $ 262,000,000             $ 800,000,000    
Unsolicited faxes | fax 381,000 381,000 381,000              
Damages sought per fax (in usd per fax) $ 500                  
2022 Mastercard and Visa Proposed Collective Action Complaint in the U.K.                    
Legal And Regulatory                    
Amount of damages sought (that exceeds) 1,300,000,000 £ 1,000                
Loss Contingency, Pending Claims, Excluded Merchants, Number | merchant             100      
Portugal Proposed Interchange Collective Action                    
Legal And Regulatory                    
Amount of damages sought (that exceeds) $ 500,000,000   € 0.4              
Loss Contingency, Damages Sought, Complaint Period 20 years 20 years 20 years              
Netherlands Interchange Collective Action                    
Legal And Regulatory                    
Amount of damages sought (that exceeds) $ 300,000,000   € 0.3              
ATM Operators Complaint                    
Legal And Regulatory                    
Number of plaintiffs in case | plaintiff       13            
Number of claims | complaint                 3  
U.S. Liability Shift Litigation                    
Legal And Regulatory                    
Amount of damages sought (that exceeds) 1,000,000,000                  
Loss contingency accrual $ 80,000,000                  
Number of defendants | defendant 4 4 4              
Non-bank ATM Consumer Class Complaint                    
Legal And Regulatory                    
Loss contingency accrual $ 79,000,000                  
2026 Visa and Mastercard Proposed Collective Action Interchange                    
Legal And Regulatory                    
Amount of damages sought (that exceeds) $ 500,000,000 £ 400                
U.S. Merchant Litigation - Class Litigation - Block and Intuit                    
Legal And Regulatory                    
Number of plaintiffs in case | plaintiff 2 2 2              
2026 Visa and Mastercard Proposed Collective Action in the U.K. (Consumer Domestic and Cross-Border)                    
Legal And Regulatory                    
Amount of damages sought (that exceeds) $ 2,000,000,000.0 £ 1,500                
2026 Visa and Mastercard Proposed Collective Action Complaints in the U.K. | Subsequent Event                    
Legal And Regulatory                    
Number of claims | complaint         2          
Unresolved | U.K. Merchant Lawsuit Settlement                    
Legal And Regulatory                    
Unresolved damages claims 700,000,000         £ 500        
Event Involving Visa Parties, Member Banks and Mastercard                    
Legal And Regulatory                    
Percent of settlement Mastercard would pay       12.00%            
Event Involving Member Banks and Mastercard                    
Legal And Regulatory                    
Percent of settlement Mastercard would pay       36.00%            
U.S. Merchant Litigation - Class Litigation | Maximum                    
Legal And Regulatory                    
Percentage of merchant opt outs to terminate agreement                   25.00%
U.S. Merchant Lawsuit Settlement                    
Legal And Regulatory                    
Accrued litigation 156,000,000             $ 637,000,000    
U.S. Merchant Litigation - Class Litigation - Block and Intuit                    
Legal And Regulatory                    
Amount of damages sought (that exceeds) $ 5,000,000,000                  
v3.26.3
Settlement and Other Risk Management - Estimated Settlement Exposure (Details) - Guarantee Obligations - USD ($)
$ in Millions
Sep. 30, 2026
Dec. 31, 2025
Risks Inherent in Servicing Assets and Servicing Liabilities    
Gross settlement exposure $ 94,646 $ 89,599
Risk mitigation arrangements applied to settlement exposure (16,870) (16,722)
Net settlement exposure $ 77,776 $ 72,877
v3.26.3
Derivative and Hedging Instruments - Narrative (Details)
$ in Millions, € in Billions
 3 Months Ended 9 Months Ended
Sep. 30, 2026
USD ($)
Sep. 30, 2025
USD ($)
Sep. 30, 2026
USD ($)
Sep. 30, 2025
USD ($)
Sep. 30, 2026
EUR (€)
Dec. 31, 2025
USD ($)
Dec. 31, 2025
EUR (€)
Euro-Denominated Debt              
Derivative Instruments and Hedging Activities Disclosures [Line Items]              
Unrealized gain (loss) on net investment hedges, before tax $ 8 $ (2) $ 69 $ (222)      
Cash Flow Hedging              
Derivative Instruments and Hedging Activities Disclosures [Line Items]              
Derivative, term of contract     18 months        
Terms of the foreign currency forward contracts and foreign currency option contracts, less than     7 years        
Net Investment Hedging              
Derivative Instruments and Hedging Activities Disclosures [Line Items]              
Notional amount designated | €         € 1.7   € 1.7
Net Investment Hedging | Euro-Denominated Debt              
Derivative Instruments and Hedging Activities Disclosures [Line Items]              
Net foreign currency transaction after tax gain in AOCI $ 182   $ 182     $ 126  
v3.26.3
Derivative and Hedging Instruments - Fair Value of Company's Derivative Financial Instruments (Details) - USD ($)
$ in Millions
Sep. 30, 2026
Dec. 31, 2025
Foreign Exchange Risk Management    
Derivative, Notional Amount $ 9,296 $ 10,916
Derivative Asset, Foreign exchange contracts in cash flow hedge 26 35
Derivative Liability, Interest rate contracts in a fair value hedge 77 187
Not Designated as Hedging Instrument [Member] | Foreign exchange contracts    
Foreign Exchange Risk Management    
Derivative, Notional Amount 3,828 4,866
Derivative Asset, Foreign exchange contracts in cash flow hedge 5 19
Derivative Liability, Interest rate contracts in a fair value hedge 42 18
Cash Flow Hedging | Designated as Hedging Instrument [Member] | Foreign exchange contracts    
Foreign Exchange Risk Management    
Derivative, Notional Amount 4,468 5,050
Derivative Asset, Foreign exchange contracts in cash flow hedge 21 16
Derivative Liability, Interest rate contracts in a fair value hedge 20 142
Fair Value Hedging | Designated as Hedging Instrument [Member] | Interest rate contracts    
Foreign Exchange Risk Management    
Derivative, Notional Amount 1,000 1,000
Derivative Asset, Foreign exchange contracts in cash flow hedge 0 0
Derivative Liability, Interest rate contracts in a fair value hedge $ 15 $ 27
v3.26.3
Derivative and Hedging Instruments - Gain (Loss) Related to the Company's Derivative Financial Instruments Designated as Hedging Instruments (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
Derivative Instruments, Gain (Loss) [Line Items]        
Cash flow hedges $ 5 $ 34 $ 111 $ (314)
Realized gain (loss) on cash flow hedges reclassified from AOCI 29 (8) 136 (382)
Foreign exchange contracts        
Derivative Instruments, Gain (Loss) [Line Items]        
Cash flow hedges 5 34 111 (314)
Foreign exchange contracts | Location, Statement of Income, Balance: us-gaap:GeneralAndAdministrativeExpense        
Derivative Instruments, Gain (Loss) [Line Items]        
Realized gain (loss) on cash flow hedges reclassified from AOCI 26 10 158 (346)
Foreign exchange contracts | Location, Statement of Income, Balance: us-gaap:Revenues        
Derivative Instruments, Gain (Loss) [Line Items]        
Realized gain (loss) on cash flow hedges reclassified from AOCI $ 5 $ (16) $ (16) $ (31)
v3.26.3
Derivative and Hedging Instruments - Gain (Loss) Recognized in Income for non-designated derivative contracts (Details) - Foreign exchange contracts - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
Foreign Exchange Risk Management        
Gain (loss) for contracts to purchase and sell foreign currency $ 17 $ (19) $ (34) $ 61
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]     General and administrative General and administrative
v3.26.3
Derivative and Hedging Instruments - Gain (Loss) Recognized in other comprehensive income for foreign exchange derivative contracts designated as net investment hedges (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
Foreign exchange contracts        
Derivative Instruments and Hedging Activities Disclosures [Line Items]        
Unrealized gain (loss) on net investment hedges, before tax $ 0 $ 0 $ 3 $ 12
v3.26.3
Segment Reporting (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
Segment Reporting [Line Items]        
Net Revenue $ 9,807 $ 8,602 $ 27,482 $ 23,985
Advertising and marketing 252 245 622 610
Depreciation and amortization 326 290 934 846
Provision for litigation 74 83 156 330
Investment income (88) (81) (257) (239)
Interest expense 250 186 653 563
Other (income) expense, net (46) (2) (152) (23)
Income tax expense 1,113 1,072 3,141 2,794
Net Income 4,628 3,927 12,898 10,908
Payment Solutions        
Segment Reporting [Line Items]        
Net Revenue 9,807 8,602 27,482 23,985
Personnel 2,028 1,893 6,012 5,433
Professional fees 162 128 414 348
Data processing and telecommunications 386 324 1,104 930
Gain (loss) for contracts to purchase and sell foreign currency 42 26 159 68
Advertising and marketing 252 245 622 610
Depreciation and amortization 326 290 934 846
Provision for litigation 74 83 156 330
Investment income (88) (81) (257) (239)
(Gains) losses on equity investments, net 5 (41) 73 (16)
Interest expense 250 186 653 563
Other (income) expense, net (46) (2) (152) (23)
Income tax expense 1,113 1,072 3,141 2,794
Other segment items 675 552 1,725 1,433
Net Income $ 4,628 $ 3,927 $ 12,898 $ 10,908
v3.26.3
Segment Reporting - Narrative (Details)
 9 Months Ended
Sep. 30, 2026
segment
Segment Reporting [Abstract]  
Number of operating segments 1
Number of reportable segments 1