Mastercard’s AI + Payments Vision Is Becoming Reality—Can Visa Keep Up?

Mastercard Incorporated reported robust financial performance in the third quarter of 2025. The company’s net revenue rose by 15% on a non-GAAP currency-neutral basis, attributed to strong growth in both the payment network and value-added services and solutions. The latter segment, in particular, grew by 22%, with acquisitions like Recorded Future contributing modestly to this growth. Excluding acquisitions, organic growth was substantial, driven by increasing demand for security, digital solutions, and market insights. Positives about Mastercard’s performance include its strategic expansion and innovation in the payments ecosystem. The company has made significant inroads into global markets with several co-brand wins and expanded bank partnerships. Notable deals include collaborations with Japan Airlines, Nordea, and Nubank. Mastercard’s increased focus on affluent consumer segments was evident through products tailored for high-net-worth individuals and its alliances with several banks in Brazil.