MA · Earnings call · 2026Q2T · Full report
Customer Dynamics
Mastercard Inc · 2026-07-30 · Importance 34 · Surprise 42 · In source text
Mastercard renewed its Chase Freedom Flex partnership in the United States and Mexico and renewed Banamex in Mexico, retaining exclusivity for nearly all portfolios representing almost 19 million cards. The company expanded Revolut support across Singapore, Australia and New Zealand, flipped Alliance Federal Credit Union in the U.S. and Eurobank in Greece, and became the exclusive partner across Saudi National Bank’s credit, debit, prepaid and commercial portfolios. New co-brands with Uber and Hilton in Mexico, Intuit small-business issuance in the United States and Riyadh Air’s branded prepaid, credit and virtual-card program broadened customer relationships.
Key facts
- Mastercard said it won several hundred flips and deal expansions in the first half of 2026 that are expected to drive trillions of dollars in incremental volume to its network over the next decade.
- Mastercard flipped Alliance Federal Credit Union U.S. credit and debit portfolios and Eurobank's entire consumer and commercial portfolios in Greece, resulting in over 1 million new Mastercards across the two once complete.
- Mastercard is now the exclusive partner across Saudi National Bank's credit, debit, prepaid and commercial portfolios after a recent flip of their travel co-brand portfolio.
- Mastercard launched new co-brands with Uber and Hilton in Mexico.
- Mastercard has an exclusive partnership with Riyadh Air allowing consumers to use Mastercard branded prepaid and credit cards to purchase tickets and enabling virtual card payments for travel agents.
- Mastercard renewed a key partnership with JPMorgan Chase on the Chase Freedom Flex portfolio in the U.S.
- Mastercard expanded its partnership with Revolut to support their affluent debit proposition, Ultra, across Singapore and Australia, and their commercial portfolio in New Zealand.
- Mastercard has added over 230 million net new Mastercards into the market in the 12 months through quarter two 2026.
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| revenue | positive | probable | — | Mastercard said it won several hundred flips and deal expansions in the first half of 2026 that are expected to drive trillions of dollars… |
| revenue | positive | probable | — | Mastercard flipped Alliance Federal Credit Union U.S. credit and debit portfolios and Eurobank's entire consumer and commercial portfolios… |
| revenue | positive | committed | — | Mastercard is now the exclusive partner across Saudi National Bank's credit, debit, prepaid and commercial portfolios after a recent flip… |
| revenue | positive | probable | — | Mastercard launched new co-brands with Uber and Hilton in Mexico. |
| revenue | positive | committed | — | Mastercard has an exclusive partnership with Riyadh Air allowing consumers to use Mastercard branded prepaid and credit cards to purchase… |
| revenue | positive | committed | — | Mastercard renewed a key partnership with JPMorgan Chase on the Chase Freedom Flex portfolio in the U.S. |
| revenue | positive | committed | — | Mastercard expanded its partnership with Revolut to support their affluent debit proposition, Ultra, across Singapore and Australia, and… |