MA · Earnings call · 2026Q3T · Full report

Pricing and Revenue Trends

Mastercard Inc · 2026-10-29 · Importance 32 · Surprise 24

Management said Q3 pricing included both pricing introduced previously and new pricing, and pricing contributed across revenue lines. Mastercard said it prices for value and expects to lap some pricing in Q4, while continuing to pursue pricing opportunities tied to new functionalities, use cases, and customer penetration. Management highlighted MDES tokenization for agentic commerce as an example of a platform being enhanced for new use cases.

Key facts

• Mastercard expects some Q3 pricing effects to lap as it enters Q4.
• Mastercard prices for the value it delivers and will continue to look for pricing opportunities.
• Mastercard's Q3 pricing contribution included both previous pricing and new pricing.
• Mastercard's Q3 domestic assessments increased 13% while worldwide GDV grew 7%; the six-percentage-point difference was primarily driven by pricing and mix.
• Mastercard's Q3 cross-border assessments increased 16% while cross-border volume increased 11%; the five-percentage-point difference was driven primarily by international-market pricing and mix.
• Mastercard's Q3 transaction processing assessments increased 14% while switched transactions grew 9%; the five-percentage-point difference was primarily related to pricing and favorable mix, partially offset by lower FX-volatility revenue.