MA · 10-Q · 2026Q3 · Full report

Payment Network Volume Trends

Mastercard Inc · 2026-10-29 · Importance 25 · Surprise 32

For the three months ended September 30, 2026, Mastercard-branded gross dollar volume (GDV) grew 7% in local currency, with growth of 6% in the United States and 8% worldwide less the United States. For the nine months, local-currency GDV grew 9% overall, including 5% in the United States and 11% worldwide less the United States. Switched transactions increased 9% in both the three- and nine-month periods. These volume trends indicate continued growth across domestic and international payment activity.

Key facts

• For the three months ended September 30, 2026, Mastercard GDV on a U.S. dollar-converted basis increased 7% and on a local-currency basis increased 7% versus the comparable 2025 period. source
• For the nine months ended September 30, 2026, Mastercard GDV on a U.S. dollar-converted basis increased 9% and on a local-currency basis increased 7% versus the comparable 2025 period. source
• Mastercard-branded GDV growth in the three months ended September 30, 2026 was 7% in both U.S. dollar and local-currency terms, compared with 10% U.S. dollar and 9% local-currency growth for the nine months ended September 30, 2025. source
• In the three months ended September 30, 2026, Mastercard-branded GDV growth was 6% in the United States and 8% worldwide less the United States, in both U.S. dollar and local-currency terms. source
• Mastercard-branded GDV growth in the nine months ended September 30, 2026 was 9% in U.S. dollar terms and 7% in local-currency terms in the United States. source
• Mastercard-branded GDV growth for the nine months ended September 30, 2026 was 11% in U.S. dollar terms and 8% in local-currency terms worldwide less the United States. source
• Mastercard switched transactions grew 9% in U.S. dollar terms and 10% in local-currency terms in the three months ended September 30, 2026. source