MA · Earnings call · 2026Q2T · Full report

Revenue Performance and Mix

Mastercard Inc · 2026-07-30 · Importance 54 · Surprise 40

Q2 2026 net revenue increased 12% year over year on a non-GAAP currency-neutral basis, exceeding management’s expectations. Payment network net revenue rose 8%, driven by domestic and cross-border transaction and volume growth, pricing, and growth in rebates and incentives. Value-added services and solutions net revenue increased 18%, supported by security solutions, consumer acquisition and engagement, digital and authentication, business and market insights, and pricing. Value-added services represented a major growth contributor, with approximately 60% of related net revenue linked to the Mastercard network.

Key facts

• Switched transactions growth in Q2 2026 was 9% while transaction processing assessments were up 12%, a three percentage point difference driven primarily by favorable mix and pricing, partially offset by lower revenue from FX volatility.
• Other network assessments were $326 million in Q2 2026.
• Mastercard noted transaction processing assessments outpaced switched transaction growth by three percentage points in Q2 2026 primarily due to favorable mix and pricing partially offset by lower FX volatility revenue.
• Net revenues were up 12% year-over-year on a non-GAAP currency-neutral basis in Q2 2026.
• Payment network net revenue increased 8% year-over-year in Q2 2026, primarily driven by domestic and cross-border transaction and volume growth as well as pricing, and including growth in rebates and incentives.
• Domestic assessments were up 10% year-over-year in Q2 2026.
• Transaction processing assessments were up 12% year-over-year in Q2 2026.