Mastercard (MA) Morgan Stanley Technology, Media & Telecom Conference 2026 summary

Macro environment and industry trends

• Consumer and business spending remains stable, supported by balanced labor markets and wage growth above inflation, despite geopolitical tensions.

• Businesses are increasingly focused on optimizing working capital, digitizing payments, and modernizing processes.

• Diversification and resilience across over 200 countries and territories provide agility to adapt to changing conditions.

Commercial payments and addressable market

• The commercial payments and money movement market is estimated at $100 trillion, with $80 trillion in commercial payments and only $3 trillion currently carded.

• Manual, antiquated AP/AR processes present significant opportunities for digitization and modernization.

• Money movement penetration is under 2%, highlighting vast growth potential.

Growth and performance metrics

• Commercial card represented 13% of total GDV in 2025, growing at 11% annually; money movement transactions grew 35%.

• Revenue growth in these segments is about twice the volume growth, driven by cross-border activity and advanced data capabilities.

• Market share increased by 4 percentage points from 2019 to 2023, with continued momentum.