Mastercard published its 2025 annual report, outlining strategy focused on consumer payments, commercial and new payment flows, and services and other solutions. The company reported 2025 net revenue of USD 32.8 billion and said it returned USD 14.5 billion to stockholders. Mastercard said cross-border volume grew 15% and switched transactions rose 10% in 2025. Business updates included the launch of Mastercard Agent Pay for agentic commerce and the rollout of services such as Mastercard Threat Intelligence and Mastercard Commerce Media. Mastercard said about 40% of its transactions were tokenized in 2025.

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