Mastercard reported on October 29 that its third-quarter net revenue rose 14% to $9.81 billion, as card spending and demand for fraud prevention, data analytics and other services strengthened. The U.S. payments company earned $4.63 billion in net income during the three months ended September 30, compared with $3.93 billion a year earlier, despite concerns about inflation and consumer spending.
Adjusted diluted earnings reached $5.31 per share, exceeding the roughly $5.16–$5.17 expected by analysts, according to Reuters. Mastercard said purchase volume grew 9% in local currency, cross-border volume increased 11%, and switched transactions were 9% higher year over year.
Security and Data Services Grow Faster Than Card Processing
The company’s SEC filing shows payment-network revenue climbed 11%, from $5.179 billion to $5.749 billion. Value-added services and solutions climbed 19%, from $3.423 billion to $4.058 billion. Those services include fraud and security tools, analytics, consulting and other offerings that extend beyond the fee earned from moving card transactions.
Value-added services now account for approximately 41% of Mastercard’s quarterly net revenue, up from around 40% a year ago. That shift helps explain why payment networks increasingly compete on risk management, information and software as well as transaction volume.
Stablecoin Payments Enter the Platform Strategy
The earnings also arrive two weeks after Mastercard and BVNK launched Global Money Platform on October 15. The product combines conventional currency accounts with stablecoin conversion, card services and local payouts through a single integration. Mastercard completed its acquisition of BVNK in August.
BVNK’s October 15 announcement demonstrates its new Global Money Platform for businesses handling fiat and stablecoin payments.
The companies named Nuvei and Marqeta among early integration partners. A wider rollout covering more than 40 currencies through Mastercard Move is planned for 2027; the announcement does not mean every feature is available in every country today. Stablecoin capabilities are an expansion strategy, not an identified driver of the quarter’s $9.81 billion revenue figure.
Yahoo Finance’s August 10 discussion examines Mastercard’s BVNK acquisition and its strategy in stablecoin payments. The video predates the October earnings release.
The next tests are whether spending and cross-border volumes remain resilient under inflation, how much faster value-added services grow than the core network, and whether Mastercard converts its new digital-money platform into meaningful revenue. Stripe’s stablecoin expansion illustrates the broader competition to connect digital dollars with traditional commerce.
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