MasterCard Incorporated Investor Presentations, dated September 15, 2010

8:30 a.m.

Welcome

Barbara Gasper

8:35 a.m.

Opening Remarks

Bob Selander

8:45 a.m.

Strategic Discussion

Ajay Banga

9:05 a.m.

Product & Solutions Overview

Gary Flood

9:20 a.m.

Core Products

Tim Murphy

9:40 a.m.

Emerging Payments

Ed McLaughlin

10:00 a.m.

Break

10:20 a.m.

U.S. Markets

Chris McWilton

10:40 a.m.

International Markets

Walt Macnee

11:00 a.m.

European Opportunities

Javier Perez

11:20 a.m.

Financial Perspective

Martina Hund-Mejean

11:40 a.m.

Q&A Session

Management

12:25 p.m.

MA Labs & Product Demo Intro

Garry Lyons

12:35 p.m.

Closing Remarks

Ajay Banga

12:45 p.m.

Lunch, Mingle & Product Demos

Management & Staff

3:00 p.m.

Event Adjourns

Agenda

Page 2

Investment Community Meeting

September 15, 2010

Today’s presentation may contain, in addition to historical information,

forward looking statements within the meaning of the Private Securities

Litigation Reform Act of 1995.

These forward-looking statements are based on our current

assumptions, expectations and projections about future events which

reflect the best judgment of management and involve a number of risks

and uncertainties that could cause actual results to differ materially

from those suggested by our comments today. You should review and

consider the information contained in our filings with the SEC regarding

these risks and uncertainties.

MasterCard

disclaims

any

obligation

publicly

update

revise

any

forward-looking statements or information provided during today’s

presentations.

Forward-Looking Statements

Page 3

Investment Community Meeting

September 15, 2010

MasterCard’s Transformation

Over the Last Decade

Page 5

September 15, 2010

We faced

challenges...

...and responded with

innovative & competitive solutions

•

Strengthened brands and marketing

•

Launched Priceless

Weak Brands

•

Rewrote core systems

•

Developed Competitively Advantaged Offerings

Dated

Technology

•

Created customer teams

•

Introduced value-added services & MasterCard Advisors

Association

Mentality

•

Merged with Europay

•

Created single global entity

Disparate

Structure

•

Changed ownership and governance structure

•

Increased level of commercial rigor

Lack of Capital

and Flexibility

Investment Community Meeting

Learning by Innovating

Page 6

September 15, 2010

We made mistakes

along the way

•

Mondex

•

Debit in the U.S.

We learned lessons

that made us

more successful

•

Listen to customers

•

A global, top-down approach

doesn’t always work

•

Importance of planning for

different scenarios

Investment Community Meeting

Trends present both

challenges & opportunities

Evolving Industry and Environment

Page 7

September 15, 2010

We continue to deliver

innovative solutions

•

Mobile phone initiatives

•

MoneySend

•

inControl

•

Transformation of payments

•

New customers

•

New competition

•

Nationalism/regulation

•

Demographic trends

•

Secular trends

Investment Community Meeting

Summary

Page 8

September 15, 2010

Our innovative approach...

Whether in the

strategic

business

decisions

we’ve made over the last decade or the

competitive solutions we’ve introduced in recent

months

...will continue to

drive momentum

across our business.

Investment Community Meeting

Key Trends Creating Opportunities

in the “War on Cash”

Page 11

September 15, 2010

Growing affluent and middle class

Ongoing increase in acceptance

Growing importance of youth

Financial inclusion

Continued urbanization

8-10%

Market Growth

Investment Community Meeting

MasterCard Strategy:

Looking to the Future

Page 13

September 15, 2010

Growth will come through both

displacement of cash and checks

and

increased market share.

8-10%

Market

Growth

3-5%

Growth from

Strategic Investments

Low to

Mid-Teens

Long-Term

Net Revenue

Growth

Investment Community Meeting

Strategy Enables Future Growth

Page 14

September 15, 2010

Credit

Debit

Processing

•

Segmented offerings and

product enhancements

•

New geographies

and customers

•

Reinforce strong

position outside U.S.

•

Increase U.S. market

share profitably

•

Public sector, corporate

and consumer reloadable

•

Grow market share

•

Domestic processing

•

Expand processing

capabilities

Prepaid

Investment Community Meeting

Strategy Enables Future Growth

Page 15

September 15, 2010

Geographies

Customers

•

Invest disproportionately in

high growth markets

•

Grow acceptance, channels,

processing

Relationships with:

•

Merchants

•

Telcos

•

Governments

•

Transit Operators

Investment Community Meeting

Strategy Enables Future Growth

Page 16

September 15, 2010

Information Services

MasterCard Labs

•

Ideate, incubate and test

new ideas

•

Monetize information through

diversified channels

•

Enhance merchant services

e-Commerce & Mobile

•

Drive faster than market

growth

•

Partner and build payments

infrastructure in emerging

markets

•

Differentiate the consumer

experience in developed

markets

Investment Community Meeting

Acquisitions Play a Role in the Strategy

Page 17

September 15, 2010

DataCash

fits our acquisition criteria well

•

Drive e-Commerce growth in tandem with

acquiring relationships

•

Expand DataCash

and MiGS

gateway

products beyond Europe and Asia/Pacific

•

Enhance fraud management expertise

•

Deliver new products with minimal merchant

integration challenges

Strategic

Rationale

•

Clear fit with e-Commerce strategy

•

Complements and enhances existing assets

•

Attractive returns

Deal

Criteria

Investment Community Meeting

Optimizing Solutions for Growth

Page 20

September 15, 2010

Advisory Services

Processing

Core Products

Marketing

MasterCard Labs

Emerging Payments

Investment Community Meeting

Global Opportunity to

Displace Cash and Checks

Page 21

September 15, 2010

85% of the world’s transactions

are still done in Cash

2.5 billion adults worldwide

are unbanked

Over $1.7 trillion Commercial

opportunity globally by 2015

4.6 billion Mobile Phones

globally,

with just 10% smart phone penetration

Global consumer Check

volume

equals $9 trillion

Prepaid

will

grow

$850 billion by 2017

More than $1 trillion in

e-Commerce

sales globally by 2011

Opportunity to displace cash in

Transit

space is $29 billion globally

Sources: 1. MasterCard Advisors; 2. McKinsey; 3. BCG; 4. Packaged Facts; 5. Glenbrook Partners; 6. GSMA; 7. Datamonitor

Investment Community Meeting

Sustainable Differentiation

Requires Continuous Innovation

Page 23

September 15, 2010

Today

Differentiated assets

provide leverage

•

Integrated Solutions

•

Unified Global Entity

•

Network Response

and Flexibility

•

inControl

•

Advisory Services

•

Data Analytics

•

Smart Data

Near-Term

Innovation supported by

key strategic investments

•

Prepaid

•

Information Services

•

e-Commerce

•

Mobile / P2P

•

MasterCard Labs

•

Open API

•

Consumer

Segmentation

•

New Customers

Longer-Term

Fully-integrated

continuous innovation

•

Drive value for:

–

Customers

–

Merchants

–

End Consumers

Investment Community Meeting

Processing Creates Value

Page 24

September 15, 2010

MasterCard

Worldwide

Network

Unique

•Central & Distributed Network

•99.999% Global Availability

•Fastest Global Network

New Channels

•Mobile

•Transit

Local

•Domestic Processing

•Currency

•Rules

Value-Add

•inControl

•Rewards

Investment Community Meeting

e-Commerce

Real-time Risk Scoring

Extended Capabilities

•Integrated Processing Solutions

•Strategic Payment Services

•MiGS and DataCash

Global

•210 Countries

•23,000 Financial Institutions

Advisory Services

Page 25

September 15, 2010

Solving Needs &

Driving Growth

Investment Community Meeting

Leveraging:

•

Data

•

Insights

•

Payments Expertise

•

Problem-Solving Skills

Three lines of business:

•

Consulting

•

Information

•

Managed Services

Marketing Strategy

Corresponds to Market Evolution

Page 26

September 15, 2010

Brand Preference

Brand Awareness

•

Consumer & merchant education

and awareness

•

Acceptance development

•

Issuance support

•

Infrastructure/business model

•

Fully integrated marketing

•

Product innovation

•

Consumer benefit driven from

functionality

•

Issuer & merchant strategic

marketing alignment

•

Activation

Investment Community Meeting

Australia: Targeting Gen Y to Drive Debit

Page 27

Investment Community Meeting

September 15, 2010

Australian debit volume

increased

89%

Top of wallet behavior

than

doubled

among the target demographic

Note: 1. YOY results as of Q1 2010; 2. Q1 2010 vs. Q1 2008

Global Products & Solutions

Page 29

Investment Community Meeting

September 15, 2010

Powering

MasterCard’s

Growth

Tremendous

opportunities

exist

Innovation

and

differentiation

are

critical

A global strategy

with market-

level

insight,

alignment

and

flawless execution

drive success

Credit:

Core to Our Growth

Page 31

Investment Community Meeting

September 15, 2010

Volumes stabilizing in

the US; growth in ROW

Partnerships / assets for the Affluent

Consumer-centric value propositions

Commercial payments

Focused on:

2Q10 YOY Growth

US:

-1.5%

ROW:

9.8%

Leading innovation in product and card design

Commercial

Credit:

Substantial Opportunity in Commercial

Page 33

Investment Community Meeting

September 15, 2010

2Q10 YOY Growth

US:

4.3%

ROW:

14.1%

Fastest growing

segment in credit

Gaining share in Europe, pursuing greenfield

opportunities in APMEA and LAC

Leveraging differentiated product assets

Lufthansa

Miles & More

•

Debit economics

•

Network exclusivity

•

Discounts at POS

•

Credit min / max

Recent US Financial Regulation:

Impact on Debit

Page 34

Investment Community Meeting

September 15, 2010

Impacts

Opportunities

•

Brand sales in light of

network exclusivity

•

Prepaid for financial inclusion

Debit:

Driving Growth in Local Markets

Page 35

Investment Community Meeting

September 15, 2010

Winning profitable deals in key markets

Winning domestic switching

Accelerating cash conversion

Focused on:

2Q10 YOY Growth

0.8% / 21.0%

ROW:

28.7%

Significant and

sustained growth

around the world

Leveraging country-level strategies,

well positioned in many markets

* Includes/excludes US deconversions

Debit:

Being Local is Key to Winning Business

India

State Bank

of India

Created

customized

offering to largest

bank in India

Europe

TEB (Turkish

Economy Bank)

Display Card

Next generation

debit card

Investment Community Meeting

Page 36

September 15, 2010

Prepaid:

Capturing the Global Opportunity

Page 37

Investment Community Meeting

September 15, 2010

Public Sector

Corporate

Consumer Reloadable

Large & quickly growing global opportunity

IPS provides a robust prepaid issuer

processing solution across all categories

Focused on three verticals:

Prepaid:

Leveraging Value

Page 38

Investment Community Meeting

September 15, 2010

Public Sector

Direct

Express

Debit

MasterCard

Gives recipients

faster access to their

funds and saves

taxpayer dollars

Consumer

Travelex and

Bank of China

World’s largest

distributor of

foreign currency

prepaid cards

Past, Present & Future State

Page 41

Investment Community Meeting

September 15, 2010

A strong global network and brand

with

robust

assets

applications

Building infrastructures and enhancing

consumer

experiences

around

the

world

Facilitating

commerce

driving

growth in new markets and segments

Who

we are

What

are

working on

Where

are going

Accelerating e-Commerce

Page 42

Investment Community Meeting

September 15, 2010

Rapid adoption of the Internet

continues

bolster

online

sales

Brand loyalty, security and

convenience drive growth

•

Infrastructure:

Gateways, payment options, fraud tools

•

Consumer Engagement:

Maestro online, MasterCard MarketPlace,

social media

Focused on:

18%

45%

32%

North America

Europe

Asia Pacific

LAC + Other

Source: MasterCard Analysis and ComScore data

•

Infrastructure: Contactless, Mobile

Payments Gateway

•

Consumer Application:

PayPass,

MoneySend,

inControl

alerts,

API

and

Apps

Focused on:

Transitioning to Mobility

Source: Arthur D. Little, 2009

Mobile phones…

Ubiquitous

part of consumers’

daily lives

Innovation platform through

a partnership approach

Investment Community Meeting

Page 43

September 15, 2010

Mobile Momentum

Page 44

Investment Community Meeting

September 15, 2010

MasterCard introduces

Mobile Payments

Gateway, an m-wallet

platform linking

MasterCard cards

First Mobile

PayPass

Tag

pilot in Canada

First Market Trial

of Personalized

NFC-Enabled

Mobile Phones

200 phones

payment pilot in

partnership with

ViVOtech

Fully-integrated

on-demand

person-to-person

mobile payment

service

Custom

technology trial

of Near Field

Communication

and MTA

First trial of

PayPass- enabled

mobile phones for

secure EMV

payments

Pioneer mobile

phone debit

payments in the UK,

using Maestro

PayPass

Enable customers to

make contactless

payments via phones

with MasterCard

PayPass

Turkey’s first mobile

phones, enabled

with MasterCard

PayPass

Partnering in the

development of a Mobile

Payments proposition

that focuses specifically

on consumer

convenience

First large scale

deployment of

PayPass

in a mobile

phone (60K

Customer)

First trial in

Taiwan to make

use of NFC smart

posters and

m-coupons

First Mobile Pilot in

India (Bangalore)

using Mobile PayPass

First Commercial

mobile NFC

Deployment

Turkey’s first mobile

phones, enabled

with MasterCard

PayPass

Partnership will

pursue mobile

commerce

opportunities

Enabling Transit Payments

Page 45

Investment Community Meeting

September 15, 2010

High volume,

faster

than

cash

but

current

systems are cumbersome and inconvenient

Transit is an anchor for everyday spend

•

Infrastructure:

Transit gateway,

open loop network

•

Consumer

Experience:

PayPass,

prepaid,

mobile integration

Focused on:

US Markets

Page 48

Investment Community Meeting

September 15, 2010

Winning deals

in the fast-growing Debit space

has created excellent momentum for US Debit

Well

positioned

for

the

impact

the

financial

reform legislation

Engaging with non-traditional customers:

governments, merchants, telcos, others to grow revenue

Strategy to Address Recent

US Legislation

Page 50

Investment Community Meeting

September 15, 2010

Ensure Fed has a well-informed view

Leverage advantages of MasterCard

signature

and PIN

debit offerings

Provide financial institutions with

new solutions

Merchant focused innovation

Opportunity

•

More than half of the

market is still using paper

•

Economic downturn causing

consumer shift to Debit

•

Regulation driving change

in competitive landscape

Strategic Imperatives

•

Leverage strong momentum

•

Drive product innovation and

demonstrate differentiated value

•

Maximize processing

US Strategic Priorities

Page 53

Investment Community Meeting

September 15, 2010

Source: Euromonitor

Debit

Checks

26%

Cash

26%

Cards

32%

EFT

16%

2009 PCE $10T

US Strategic Priorities

Page 54

Investment Community Meeting

September 15, 2010

Opportunity

•Will represent a $442B market by 2017E

•Regulation driving the unbanked to Prepaid

•Adjunct to our Debit business

Strategic Imperatives

•Build already strong presence in corporate,

public sector and consumer reloadable

verticals

Source: Boston Consulting Group

Prepaid

US Strategic Priorities

Page 55

Investment Community Meeting

September 15, 2010

Opportunity

•

Favorably positioned with secular trends

•

Credit cards accounted for one-fifth

of PCE in 2009

•

Regulation will drive product innovation

Strategic Imperatives

•

Protect and grow core Credit

•

Leverage consumer insights to drive

product innovation

•

Capitalize on commercial growth as

corporate travel rebounds

Source: Economic Intelligence Unit

Credit

US Strategic Priorities

Page 56

Investment Community Meeting

September 15, 2010

Opportunity

•

Double-digit growth in online sales

despite tepid overall retail sales growth

•

US accounts for more than 30% of all

global e-Commerce volume

Strategic Imperatives

•

Grow share of online card spend ahead

of the market

•

Partner with targeted online players

•

Leverage MasterCard Marketplace

e-Commerce

US Strategic Priorities

Page 57

Investment Community Meeting

September 15, 2010

Opportunity

•

Significant competitive differentiator

•

Regulation driving changes in Issuer

business models

•

Economy driving changes in consumer

trends

Strategic Imperatives

•

Improve profitability of Issuer portfolios

•

Demonstrate predictive capabilities and

insights

Advisory

Services

Advisory

Services

Page 58

Investment Community Meeting

September 15, 2010

Leveraging

significant

deal activity and momentum

Exercising

prudence in

financial negotiations

Investing

in innovative

products and solutions

Focusing

on both traditional

and non-traditional customers

Building, Growing and

Diversifying

revenue

streams

US Poised for

Growth

Our Objective...

Sustained double digit revenue growth

through Global resources embedded in local execution.

International Markets: Large and Growing

Page 60

Investment Community Meeting

September 15, 2010

210 Countries with

$2.8B Net Revenue

MasterCard Net Revenue

$5.1B

$3.3B

CAGR

21%

CAGR

10%

Strategic Framework for Capturing

Opportunities and Addressing Challenges

Page 61

Investment Community Meeting

September 15, 2010

Prioritization of markets

based on size of opportunity and

potential returns for MasterCard

Segmentation of markets

to identify common themes and approach

Country-level strategies

around MasterCard strategic pillars of:

Demographic Trends:

Reaching the Un/Under-banked

Page 65

Investment Community Meeting

September 15, 2010

Source: Euromonitor

International

Developed

Countries

Emerging

Countries

Emerging

Countries

Developed

Countries

Developed

Countries

Emerging

Countries

Banked Population

(as % of 15+ Population)

Broadband Penetration

(Subscribers per Household)

Mobile Penetration

(Subscribers per Capita)

Mobile Payments:

Reaching the Banked and Un/Under-banked

Page 66

Investment Community Meeting

September 15, 2010

MasterCard introduces

Mobile Payments

Gateway, an m-wallet

platform linking

MasterCard cards

First Mobile

PayPass

Tag

pilot in Canada

First Market Trial

of Personalized

NFC-Enabled

Mobile Phones

200 phones

payment pilot in

partnership with

ViVOtech

Fully-integrated

on-demand

person-to-person

mobile payment

service

Custom

technology trial

of Near Field

Communication

and MTA

First trial of

PayPass- enabled

mobile phones for

secure EMV

payments

Pioneer mobile

phone debit

payments in the UK,

using Maestro

PayPass

Enable customers to

make contactless

payments via phones

with MasterCard

PayPass

Turkey’s first mobile

phones, enabled

with MasterCard

PayPass

Partnering in the

development of a Mobile

Payments proposition

that focuses specifically

on consumer convenience

First large scale

deployment of

PayPass

in a mobile

phone (60K

Customer)

First trial in Taiwan

to make use of NFC

smart posters and

m-coupons

First Mobile Pilot in

India (Bangalore)

using Mobile

PayPass

First Commercial

mobile NFC

Deployment

Turkey’s first mobile

phones, enabled

with MasterCard

PayPass

Partnership will

pursue mobile

commerce

opportunities

Transformation of Payments Trend

Page 67

Investment Community Meeting

September 15, 2010

New Types of

Customers

New Technologies

and Products

The changing payments landscape provides

new opportunities with non-traditional

customers and innovative products

but

also introduces new challenges

Evolving Role of Governments Trend

Page 69

Investment Community Meeting

September 15, 2010

MasterCard is

actively partnering

with governments

Working

with regulatory

bodies to drive positive

change

Supporting

financial

inclusion

in emerging markets

Driving

electronic

payments

infrastructure development

Spend

on Cards

MasterCard

Market Share

MasterCard

Switching Ratio

United

States

31%

27%

90%

Europe’s Card Payments Business is

Far from Being Mature and Saturated

Page 74

Investment Community Meeting

September 15, 2010

Continental Europe

has substantial

potential to grow

Sources:

PCE

–

EIU,

Spend

Cards

–

Euromonitor,

Market

–

Nilson,

RBR,

Processing

data

Internal

data

2009 Continental Europe PCE

$10T

23%

50%

19%

MasterCard is Well Positioned

to Capture the Opportunity

Page 75

Investment Community Meeting

September 15, 2010

A starting position of strength

Building for the future with

products and partnerships

An active force in

shaping the industry

Global and independent

Giulio

Tremonti, Italy's Minister of Welfare,

presents the new Maestro social card to the

press.

Leveraging the Single Euro Payments Area

Page 76

Investment Community Meeting

September 15, 2010

We are now switching domestic debit in every SEPA country

2006

2009

Domestic Debit

Switching

No Domestic

Debit Switching

Percent of MasterCard Domestic

Debit Transactions Switched

3.4%

6.9%

SEPA opens competition for 97% of domestic transactions

Then

Challenges

Now

•

90% of Dutch Debit cards converted to EMV Maestro

•

Additional security and features for consumers

•

MasterCard begins processing Dutch domestic Debit transactions

Domestic scheme:

100% of Debit cards and domestic volume

•

Nationalist sentiment

•

Cost of migrating merchants to EMV

•

Deliver a positive consumer experience

Processing all Dutch domestic transactions would increase

MasterCard Europe’s processed transactions by 40%

Unlocking Opportunity in The Netherlands

Page 77

Investment Community Meeting

September 15, 2010

Enhancing the consumer experience

Then

Challenges

Now

Unlocking Opportunity in France

Page 78

Investment Community Meeting

September 15, 2010

Sparking innovation and choice

•

Strong domestic schemes controlled by banks

•

Difficult for non-traditional players

to enter market

•

“Breaking the market”

•

Legacy of co-branding restrictions

•

Carrefour:

First major MasterCard-only Issuer in France

•

Auchan

and others follow; unique card propositions emerge

•

2.5 million PayPass

cards within 18 months

•

MasterCard begins processing French domestic Debit transactions

2006

2009

2015 E

Well Positioned to Seize the Opportunity

Page 79

Investment Community Meeting

September 15, 2010

Sources:

PCE

–

EIU,

Spend

Cards

–

Euromonitor,

Market

–

RBR,

Processing

data

–

Internal

data

Spend

on Cards

MasterCard

Market Share

MasterCard

Switching Ratio

$8T

20%

46%

15%

$10T

23%

50%

19%

$12T

Continental

Europe PCE

Worldwide

Gross Dollar Volume (GDV) Growth

0.6

5.6

8.3

8.5

4.6

0.3

2.5

3.4

5.2

0.6

5.9

10.8

11.9

9.8

10%

15%

Q3'09

Q4'09

Q1'10

Q2'10

Jul/Aug

Reported

Processed

5.6

Processed

Investment Community Meeting

Page 82

September 15, 2010

As Reported

Impact of Deconversions

US Debit

Gross Dollar Volume Growth

5.2

10.5

7.0

0.8

-5.0

0.4

2.3

15.3

20.2

25.8

5.6

12.8

22.3

21.0

20.8

-10%

10%

20%

30%

Q3'09

Q4'09

Q1'10

Q2'10

Jul/Aug

Reported

Processed

0.7

Processed

Investment Community Meeting

Page 84

September 15, 2010

As Reported

Impact of Deconversions

•

Raised Acquirer Cross-Border Assessment Fee in

Q4 2009, with corresponding rebates

•

Will simplify structure starting Q4 2010

–

All

rebates

will

collapsed

into

gross

revenue

with no

impact

net

revenue

•

As-reported Acquirer Cross-Border Rebates were:

–

Q1 2010 = $65 million

–

Q2 2010 = $62 million

Acquirer Cross-Border Rebates

Investment Community Meeting

Page 88

September 15, 2010

2010 Financial Outlook: Constant Currency

•

1-2 ppt

headwind from Euro/Real FX

•

Debit Portfolio losses

•

Rebates & Incentives trajectory

Net

Revenue

Operating

Expenses

Net Income

Growth

•

Modest decline

•

1-2 ppt

tailwind from Euro/Real FX

•

Reinvestment in the business in Q3 / Q4

•

A&M spend higher in second half of year

•

Achieve at least 20%

Investment Community Meeting

Page 89

September 15, 2010

Capital Structure Considerations

Guiding Principles

•

Preserve strong balance sheet, liquidity and credit ratings

•

$3.5 billion net cash with remaining litigation payable of

$0.6 billion as of June 30, 2010

•

Available debt capacity, though to be used sparingly

until clarity around outstanding litigation

•

Bias towards share repurchase over dividend increases

•

Will target regular cadence depending on use of cash in the

business

•

$1.0 billion share repurchase program recently authorized by

the Board of Directors

•

Investments in organic opportunities and M&A

transactions

•

Primary focus in technology, processing, prepaid,

e-Commerce and mobile

Strong

Balance Sheet

Long-Term

Business

Growth

Return

Excess Cash

Investment Community Meeting

Page 91

September 15, 2010

2010

–

2015E

(CAGR)

Global PCE

Card Purchase Vol.

10%

Secular Growth

PCE Growth and Secular Trend

Provide for Tremendous Opportunity

Source: EIU, Euromonitor

and MasterCard internal estimates

Personal Consumption Expenditure (PCE)

65%

56%

46%

12%

15%

18%

23%

29%

36%

2005

2010E

2015E

Cash & Check

EFT

Credit / Debit

$27 Trillion

$36 Trillion

$48 Trillion

Investment Community Meeting

Page 93

September 15, 2010

Long-Term Revenue Growth

Source: EIU, Euromonitor

and MasterCard internal estimates

Estimated 2010-2015 CAGR

MasterCard

Long-Term Revenue

Global

PCE

Secular

Growth

+4%

~10%

Low –

Mid

Teens

~9%

Industry

Purchase Volume

Adjusted Industry

Purchase Volume

MA Mix

Strategic

Investments

(1%)

Investment Community Meeting

Page 94

September 15, 2010

Updated Longer-Term

2011 –

2013 Performance Objectives

On a constant currency basis:

Net Revenue

Growth Rate

Operating

Margin

Earnings Per Share

Growth Rate

20% +

CAGR

minimum

50%

annually

12-14%

CAGR

Investment Community Meeting

Page 95

September 15, 2010

APPENDIX

Cross-Border Pricing Change ($ in millions)

Page 96

Investment Community Meeting

September 15, 2010

Note

Adjusted

view

and

2010

illustrates

impact

cross-border

acquiring

rebate

pricing

change

had

occurred

1/1/2010.

Pricing

change

will

not

retroactive.

Simplified structure with no Net Revenue impact

As Reported

Adjusted View

B/(W)

Q1 2010

% growth

Gross Revenue

1,683

12.7

1,748

17.1

Rebates & Incentives

(375)

(11.3)

(440)

(30.7)

Net Revenue

1,308

13.1

1,308

13.1

Rebates & Incentives % of Gross Revenue

22.3%

25.2%

Q2 2010

Gross Revenue

1,766

8.7

1,828

12.6

Rebates & Incentives

(401)

(16.6)

(463)

(34.7)

Net Revenue

1,365

6.6

1,365

6.7

Rebates & Incentives % of Gross Revenue

22.7%

25.3%

MasterCard Drives Growth

through Innovation

Page 98

Investment Community Meeting

September 15, 2010

MasterCard has always

been a payments innovator.

And will continue to be a key

contributor

Change is happening fast.

Needs of merchants and cardholders

evolving faster than ever

We must leverage our

preeminence in payments.

To stay ahead or react quickly as

opportunities emerge

Make MasterCard better &

faster

innovation,

and

facilitate the creation of

disruptive breakthrough

solutions

for

the

phase

in MasterCard’s growth.

Breakthrough Innovations

Page 99

Investment Community Meeting

September 15, 2010

Preserving the strength of

our brand, reputation

and quality of our network.

“The temptation of business is

always to feed yesterday and

to starve tomorrow.”

–

Peter Drucker

Be open and diverse

Guiding Principles

Page 100

Investment Community Meeting

September 15, 2010

Share everything

Dare to dream

Labs is a stepping stone

Good ideas can come

from anywhere

Fail smart

Define success metrics early

Timeliness trumps perfection

Access to new ideas, creating

even better experiences

MasterCard Open API: The New Frontier

Page 101

Investment Community Meeting

September 15, 2010

Companies revolutionized by

opening up…

proven impact

This is just the beginning…

Developer portal is on track

to launch later this year.

Product Demonstrations

Page 102

Investment Community Meeting

September 15, 2010

inControl

Providing personalized spending

control and peace of mind.

MasterCard MarketPlace

A smarter way to shop online.

Prepaid Solutions

Leading the conversion from cash

and checks to electronic payments.

MoneySend

Greater speed, convenience and

security in person-to-person payments.

Integrated Processing Solutions

The globally integrated processing

platform for debit and prepaid.

Smart Data

Spend management to

help companies work smarter.

Looking to the Future

Page 104

Investment Community Meeting

September 15, 2010

Striking the right global / local balance

Investing in innovative products and solutions

Capturing opportunities while addressing challenges

Delivering strong financial performance