Mastercard
Priceless.
What it does
Mastercard is one of the world's two largest card payment networks (NYSE: MA), operating in over 210 countries. Founded in 1966 as Interbank Card Association and later Master Charge, it became Mastercard in 1979. In Nigeria, Mastercard cards are issued by major banks and the company has been actively investing in the African fintech ecosystem — notably leading a $150 million round in Chipper Cash in 2021. Mastercard partnered with NIBSS (Nigeria Inter-Bank Settlement System) and has been involved in Nigeria's push for financial inclusion through digital payment solutions. The company reported $25.1 billion in net revenue for 2024.
Card scheme infrastructure
Known for
- One of the world's two largest card networks alongside Visa
- $25.1 billion net revenue in 2024
- Investor in Chipper Cash ($150M round, 2021)
- Mastercard cards issued by all major Nigerian banks
- Partnership with NIBSS for Nigerian payment infrastructure
- Mastercard Labs Africa for financial inclusion innovation
- Strategic Start Path engagement with African startups
Model & industry
Infrastructure-as-a-Service (fintech rails)Banking & Financial Services
Products & subsidiaries
Mastercard Debit · Card ProductMastercard Credit · Card ProductMastercard Send · Cross-border PaymentsCybersource · Payment Gateway
Acquisitions
- Vocalink (2017). Acquired UK-based payment systems operator Vocalink for ~$920 million.
- Nets (2019). Acquired 75% stake in Danish payment processor Nets for ~$3.2 billion.
- Ekata (2021). Acquired identity verification company Ekata for undisclosed amount.
Initiatives & programs
- Mastercard Labs: R&D division with Africa-focused initiatives for financial inclusion, digital identity, and emerging payment technologies.
- Mastercard Start Path: Global startup engagement program that has included African and Nigerian fintech companies.
- 2KNigeria (2K4U): Mastercard's financial inclusion initiative in partnership with Nigerian stakeholders to expand digital payments access.
In the News
- 2024-02 · Mastercard reports $25.1 billion net revenue for 2024, up 13% year-over-year · Mastercard Investor Relations
- 2021-11 · Mastercard leads $150 million extension in Chipper Cash, deepening Africa commitment · TechCrunch