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55 | MA | 2016 | obtain cash in bank branches, at ATMs and, in some cases, at the point of sale. Our branded debit programs consist of Mastercard (including standard, premium and affluent offerings), Maestro (the only PIN-based solution that operates globally) and Cirrus (our primary global cash access solution). | [-0.022015288472175598, -0.01478879339993, -0.0028946276288479567, -0.04771098494529724, -0.03207596391439438, 0.028825385496020317, -0.012733674608170986, -0.01353288721293211, -0.016884207725524902, -0.029792500659823418, 0.00723321083933115, 0.005063919350504875, -0.04303659871220589, -0.017770729959011078, -0.00958... |
56 | MA | 2016 | Prepaid. Prepaid programs involve a balance that is funded prior to use and can be accessed via a card or other payment device. We offer prepaid payment programs using any of our brands, which we support with processing products and services. Segments on which we focus include government programs such as Social Securit... | [0.0009784548310562968, -0.006842572242021561, -0.004330323543399572, -0.03443102911114693, -0.03495992347598076, 0.006683903746306896, -0.01648828573524952, -0.013301695697009563, -0.012501743622124195, -0.007040907628834248, 0.01796918921172619, 0.015047048218548298, -0.034404587000608444, -0.024606814607977867, 0.00... |
57 | MA | 2016 | We also provide prepaid program management services, primarily outside of the United States, that manage and enable switching and issuer processing for consumer and commercial prepaid travel cards for business partners such as financial institutions, retailers, telecommunications companies, travel agents, foreign excha... | [0.006239974871277809, -0.015151333063840866, -0.01795763522386551, -0.02404245361685753, -0.021290119737386703, 0.01994093507528305, -0.01624417118728161, 0.0030879441183060408, 0.01516482513397932, -0.005727285053580999, 0.005818354897201061, 0.026120197027921677, -0.01187956240028143, -0.030221715569496155, 0.001986... |
58 | MA | 2016 | Commercial. We offer commercial payment products and solutions that help large corporations, mid-sized companies, small businesses and government entities streamline their procurement and payment processes, manage information and expenses (such as travel and entertainment) and reduce administrative costs. Our offerings... | [0.005526917055249214, -0.005021406337618828, -0.013783591799438, -0.04443101957440376, -0.03556099161505699, 0.008485839702188969, -0.01923636719584465, -0.016081979498267174, 0.010278717614710331, -0.025585580617189407, 0.023361334577202797, 0.020368710160255432, -0.008829587139189243, -0.004684399347752333, -0.00820... |
59 | MA | 2016 | Digital. Consumers continue to expand their use of varied digital devices, reflecting the growing digital economy where consumers are increasingly seeking to use their payment accounts to pay when, where and how they want. Leveraging our global innovations capability, we are developing platforms, products and solutions... | [-0.015508178621530533, 0.005060149822384119, 0.0002765220997389406, -0.020581437274813652, -0.029285944998264313, 0.017291029915213585, -0.028053680434823036, 0.004034355282783508, -0.006672580726444721, -0.04357496649026871, 0.030387116596102715, 0.027843931689858437, -0.014171040616929531, -0.02101404219865799, 0.00... |
60 | MA | 2016 | •Creating Better Shopping and Selling Experiences. We are using our digital technologies and security protocols to develop solutions to make digital shopping and selling experiences (such as on smartphones and other connected devices) simpler, faster and safer for both consumers and merchants. These include our Masterp... | [-0.017839236184954643, 0.014698334038257599, -0.01532379537820816, -0.042069051414728165, -0.043673496693372726, 0.029369473457336426, -0.025943035259842873, -0.01816556416451931, 0.0038785382639616728, -0.025412753224372864, 0.013936903327703476, 0.005833103787153959, -0.015337391756474972, -0.00343323708511889, 0.00... |
61 | MA | 2016 | •Engaging with New Partners. We enable consumers to use their smartphones securely to make digital payments through numerous active partnerships with mobile leaders and large digital companies around the world. Through Mastercard Developers, our API platform, developers, digital players, financial institutions, merchan... | [-0.005164534319192171, -0.0020069170277565718, -0.00781659223139286, -0.03848378360271454, -0.02157052792608738, 0.036740709096193314, -0.016545575112104416, 0.009198795072734356, -0.0033516704570502043, -0.04262357950210571, 0.0321379080414772, 0.02561500109732151, 0.004660677630454302, -0.023054862394928932, -0.0067... |
62 | MA | 2016 | •Facilitating Money Transfers and Personal Payments. Through Mastercard Send, we provide money transfer and global remittance solutions to enable our customers to facilitate consumers sending and receiving money quickly and securely domestically and around the world. We continue to enhance our personal payments platfor... | [-0.0006250589503906667, -0.0035632892977446318, 0.009025242179632187, -0.013897158205509186, 0.0034973635338246822, 0.012815975584089756, -0.018037298694252968, 0.007054060231894255, -0.016125449910759926, -0.02255980856716633, 0.010534942150115967, 0.008267095312476158, 0.002577698789536953, -0.03259371593594551, -0.... |
63 | MA | 2016 | We also focus on developing the future of payments and delivering additional consumer shopping safety and convenience through Mastercard Labs, our global innovation and development arm. Our efforts include incubating various ideas and hosting thought-leadership events to spur the next generation of innovative payment p... | [-0.009521563537418842, 0.008986790664494038, -0.012736721895635128, -0.024351725354790688, -0.0015733406180515885, 0.005259685683995485, -0.003860798431560397, 0.008256370201706886, -0.005921630188822746, -0.008888966403901577, 0.024260422214865685, -0.007193346042186022, -0.0074216024950146675, -0.03065161034464836, ... |
64 | MA | 2016 | We provide additional products and services to our customers and stakeholders that enhance the value proposition of our core products and network. | [-0.005429373588413, -0.013856316916644573, -0.0007986075943335891, -0.02056610956788063, -0.011441056616604328, 0.017839843407273293, -0.007887645624577999, 0.008503041230142117, 0.019295616075396538, -0.007788388524204493, -0.014703312888741493, 0.02079109288752079, -0.006914924364537001, -0.014518032781779766, -0.00... |
65 | MA | 2016 | Safety and Security. We offer products and services to prevent, detect and respond to fraud and cyber-attacks and to ensure the safety of transactions made on Mastercard products while enhancing the consumer experience. These include: | [0.01093121524900198, -0.00629558227956295, -0.01944327913224697, -0.03479459136724472, -0.02722831256687641, 0.013105876743793488, -0.00833834894001484, -0.00024810770992189646, 0.0005517078679986298, -0.01753884181380272, 0.02595439739525318, 0.0036641124170273542, -0.007907276973128319, -0.02304627001285553, 0.00577... |
66 | MA | 2016 | We have also worked with our financial institution customers to provide products to consumers globally with increased confidence through the benefit of “zero liability”, or no responsibility for counterfeit or lost card losses in the event of fraud. | [-0.00596190057694912, -0.005469208583235741, 0.00018579272727947682, -0.03616158664226532, -0.0267177801579237, 0.013676328584551811, -0.015144484117627144, -0.006517418660223484, -0.01219494640827179, -0.018120473250746727, 0.01835855282843113, 0.0038787072990089655, -0.007929360494017601, -0.029389556497335434, -0.0... |
67 | MA | 2016 | Processing. We extend our processing capabilities in the payments value chain in various regions and across the globe with an expanded suite of offerings, including: | [-0.01697363890707493, 0.008756885305047035, 0.003466970520094037, -0.02273954637348652, -0.027762770652770996, 0.030058331787586212, -0.026655500754714012, 0.007676622364670038, 0.005002970341593027, -0.026628494262695312, 0.013543803244829178, 0.0009823646396398544, -0.0014870502054691315, -0.03969968110322952, 0.026... |
68 | MA | 2016 | •Issuer and acquirer solutions designed to provide customers with a complete processing solution to help them create differentiated products and services and allow quick deployment of payments portfolios across banking channels. | [-0.012586480006575584, 0.0021369727328419685, 0.007156215608119965, -0.0024593095295131207, -0.03863947093486786, 0.02773801051080227, -0.011167516931891441, -0.009195975959300995, -0.0040113008581101894, -0.02398594282567501, 0.02200757898390293, -0.003861218225210905, -0.006368281319737434, -0.008384164422750473, 0.... |
69 | MA | 2016 | •Payment gateways that offer a single interface to provide e-commerce merchants with the ability to process secure online and in-app payments and offer value-added solutions, including outsourced electronic payments, fraud prevention and alternative payment options. | [-0.01512118335813284, -0.006865441333502531, 0.0017163603333756328, -0.012545815669000149, -0.035168007016181946, -0.004233798943459988, -0.007613555993884802, -0.009321640245616436, 0.010308092460036278, -0.03466485068202019, 0.02149008959531784, 0.00581940496340394, 0.0006314286147244275, -0.0072626699693500996, 0.0... |
70 | MA | 2016 | •Mobile gateways that facilitate transaction routing and processing for mobile-initiated transactions for our customers. | [-0.017390059307217598, -0.013480350375175476, -0.003222455270588398, 0.008152014575898647, -0.02905130945146084, 0.021231891587376595, -0.017227154225111008, -0.003169850679114461, 0.013107027858495712, -0.027245784178376198, 0.02896985597908497, 0.02288808673620224, -0.016304029151797295, -0.006841990631073713, 0.005... |
71 | MA | 2016 | Mastercard Advisors. Mastercard Advisors is our global professional services group that provides proprietary analysis, data-driven consulting and marketing services solutions to help clients optimize, streamline and grow their businesses, as well as deliver value to consumers. With analyses based on billions of transac... | [0.0052339546382427216, -0.005044490098953247, -0.022749263793230057, -0.058950502425432205, -0.008322901092469692, 0.011509964242577553, -0.003836654592305422, -0.005372669547796249, -0.012660283595323563, -0.02721521072089672, 0.024400310590863228, -0.00924315769225359, -0.0025256285443902016, -0.029881246387958527, ... |
72 | MA | 2016 | Our information services group provides a suite of data analytics and products (including reports, benchmarks, models and insights) that enable our customers to make better business decisions. Our consulting services group combines professional problem-solving skills with payments expertise to provide solutions that ad... | [-0.014620410278439522, 0.010355568490922451, -0.008676287718117237, -0.03150651603937149, -0.0209643617272377, 0.027828091755509377, 0.011448434554040432, 0.007510119583457708, 0.013620838522911072, -0.04099579155445099, -0.002319007646292448, 0.009082780219614506, -0.0037517279852181673, -0.0006172358989715576, 0.007... |
73 | MA | 2016 | Loyalty and Rewards. We have built a scalable rewards platform that enables issuers to provide consumers with a variety of benefits and services, such as personalized offers and rewards, access to a global airline lounge network, global and local concierge services, individual insurance coverages, emergency card replac... | [-0.01604262925684452, -0.004946254193782806, -0.009926041588187218, -0.062024347484111786, -0.028705039992928505, 0.010851578786969185, -0.005901970900595188, -0.004677982535213232, 0.004490192513912916, -0.016659654676914215, 0.012454500421881676, 0.008993798866868019, -0.025955257937312126, -0.02307134121656418, -0.... |
74 | MA | 2016 | Our family of well-known brands includes Mastercard, Maestro and Cirrus. In 2016, we introduced an evolution of our brand identity for the first time in 20 years. This evolved brand reflects our corporate heritage while highlighting our focus on technology and payments in a more digitally-connected world. We manage and... | [-0.006121543236076832, 0.00395391508936882, -0.006653415039181709, -0.041184939444065094, -0.006399187259376049, 0.016230452805757523, -0.004760085139423609, -0.001093849539756775, -0.021943893283605576, -0.029410168528556824, -0.021743187680840492, 0.010476871393620968, -0.020833317190408707, -0.04016802832484245, 0.... |
75 | MA | 2016 | We generate revenues primarily by assessing our customers based on GDV on the cards and other devices that carry our brands, from the fees we charge to our customers for providing transaction processing and from other payment-related products and services. Our net revenues are classified into five categories: domestic ... | [0.0007482857909053564, 0.008714044466614723, 0.001201792387291789, -0.02668634057044983, -0.011972572654485703, -0.001714926678687334, -0.010051049292087555, 0.02016928419470787, -0.02223861776292324, -0.024348262697458267, 0.021553318947553635, 0.034023068845272064, -0.010877438820898533, -0.017925266176462173, -0.00... |
76 | MA | 2016 | See “Management’s Discussion and Analysis of Financial Condition and Results of Operations - Revenue” in Part II, Item 7 for more detail about our revenue, GDV, processed transactions and our other payment-related products and services. | [-0.00775817409157753, 0.007440476678311825, -0.009689775295555592, -0.02392897941172123, -0.01949392259120941, 0.0023096611257642508, -0.023878147825598717, 0.0009959818562492728, -0.005928236525505781, -0.028948601335287094, 0.015135111287236214, 0.028821522369980812, -0.009874040260910988, -0.018185008317232132, -0.... |
77 | MA | 2016 | We own a number of valuable trademarks that are essential to our business, including Mastercard, Maestro and Cirrus, through one or more affiliates. We also own numerous other trademarks covering various brands, programs and services offered by Mastercard to support our payment programs. Trademark and service mark regi... | [-0.0008705543586984277, -0.007823512889444828, -0.0025132952723652124, -0.05492853373289108, -0.011318845674395561, 0.0012304162373766303, -0.014033794403076172, 0.0024346010759472847, -0.005629912484437227, -0.02901192009449005, -0.00462000397965312, 0.008039921522140503, -0.010728639550507069, -0.030402183532714844,... |
78 | MA | 2016 | •Cash and Check. Cash and check continue to represent the most widely used forms of payment, constituting approximately 85% of the world’s retail payment transactions. | [0.005808646325021982, 0.0031487306114286184, -0.0068624550476670265, -0.026865782216191292, -0.006262545939534903, -0.015426240861415863, -0.007687727455049753, -0.01143319346010685, -0.009052600711584091, -0.03217291831970215, 0.02200302481651306, 0.024885129183530807, -0.021799881011247635, -0.00040132825961336493, ... |
79 | MA | 2016 | •General Purpose Payment Networks. We compete worldwide with payment networks such as Visa, American Express and Discover, among others. Among global networks, Visa has significantly greater volume than we do. Outside of the United States, networks such as JCB in Japan and UnionPay in China have leading positions in t... | [-0.013958342373371124, -0.0069523281417787075, 0.01873639039695263, -0.013642937876284122, -0.01634736731648445, 0.006536262109875679, -0.019326936453580856, 0.010723765008151531, -0.008784360252320766, -0.04010339081287384, 0.007885121740400791, 0.018991397693753242, -0.00015518590225838125, -0.03414425253868103, 0.0... |
80 | MA | 2016 | •Debit and Local Networks. We compete with ATM and point-of-sale debit networks in various countries, such as Interlink®, Plus® and Visa Electron® (owned by Visa Inc.), Star® (owned by First Data Corporation), NYCE® (owned by FIS) and Pulse® (owned by Discover) in the United States; Interac in Canada; EFTPOS in Austral... | [-0.012158923782408237, 0.003629275131970644, -0.0007228731992654502, -0.038330595940351486, -0.022041456773877144, 0.021032756194472313, -0.004167702980339527, 0.01682075299322605, -0.017734035849571228, -0.028734317049384117, 0.009637173265218735, 0.009487232193350792, -0.012227078899741173, -0.024590468034148216, -0... |
81 | MA | 2016 | •Three-Party Payments Networks. Our competitors include operators of proprietary three-party payments networks, such as American Express and Discover, which have direct acquiring relationships with merchants and direct issuing relationships with account holders. These competitors have certain competitive advantages ove... | [-0.014124012552201748, 0.006562336347997189, 0.014976783655583858, -0.027608448639512062, -0.019533775746822357, 0.023584436625242233, -0.011692284606397152, 0.00798140000551939, -0.0037142157088965178, -0.025396574288606644, 0.018867548555135727, 0.016895517706871033, -0.0031995552126318216, -0.02984696999192238, 0.0... |
82 | MA | 2016 | •Competition for Customer Business. We compete intensely with other payments networks for customer business. Globally, financial institutions typically issue both Mastercard and Visa-branded payment products, and we compete with Visa for business on the basis of individual portfolios or programs. In addition, a number ... | [-0.010797496885061264, -0.00817467737942934, 0.01421914529055357, -0.027985621243715286, -0.0078884307295084, 0.022886432707309723, -0.013992810621857643, 0.015617094933986664, -0.00966582354158163, -0.0411929152905941, 0.002584542613476515, 0.023259220644831657, 0.005485288333147764, -0.05163094028830528, -0.01713486... |
83 | MA | 2016 | •Third-Party Processors. We face competition and potential displacement from transaction processors throughout the world, such as First Data Corporation and Total System Services, Inc., which are seeking to enhance their networks that link issuers directly with point-of-sale devices for payment transaction authorizatio... | [-0.012687861919403076, 0.006148213986307383, -0.00209552189335227, -0.021947301924228668, -0.022838152945041656, 0.04019622877240181, -0.006246072705835104, 0.011904994025826454, 0.003883970668539405, -0.03576897457242012, 0.03423023223876953, 0.021083448082208633, 0.004849058110266924, -0.03093678690493107, 0.0153739... |
84 | MA | 2016 | •Alternative Payments Systems and New Entrants. As the global payments industry becomes more complex, we face increasing competition from alternative payment systems and emerging payment providers. Many of these providers have developed payments systems focused on online activity in e-commerce and mobile channels (in s... | [-0.009948036633431911, 0.0006089112721383572, 0.016873884946107864, -0.016012296080589294, -0.014726540073752403, 0.022706177085638046, -0.007356642745435238, 0.002056214725598693, -0.008383921347558498, -0.028260111808776855, 0.022189224138855934, 0.006720392499119043, -0.004228412639349699, -0.01827893778681755, 0.0... |
85 | MA | 2016 | •Value-Added Products and Services. We face competition from companies that provide alternatives to our value-added products and services, including information services and consulting firms that provide consulting services and insights to financial institutions, as well as companies that compete against us as provider... | [-0.01696413941681385, -0.021105308085680008, -0.0018658556509763002, -0.00511653907597065, -0.01737692579627037, 0.035366371273994446, -0.01743018813431263, 0.006138515193015337, 0.0002180437877541408, -0.024660585448145866, 0.0069574275985360146, 0.0380028672516346, 0.0031225201673805714, -0.02510000206530094, -0.016... |
86 | MA | 2016 | General. Government regulation impacts key aspects of our business. We are subject to regulations that affect the payments industry in the many countries in which our cards and payment devices are used. See “Risk Factors” in Part I, Item 1A for more detail and examples. | [0.0030399332754313946, -0.017548779025673866, 0.0008344674133695662, -0.03625001758337021, -0.022197896614670753, 0.01250023115426302, -0.0231277197599411, 0.030932998284697533, -0.00175651500467211, -0.04350525885820389, 0.005382498726248741, 0.0021281170193105936, -0.00016196197248063982, -0.022931277751922607, 0.01... |
87 | MA | 2016 | Interchange Fees. Interchange fees associated with four-party payments systems like ours are being reviewed or challenged in various jurisdictions around the world via legislation to regulate interchange fees, competition-related regulatory proceedings, central bank regulation and litigation. Examples include statutes ... | [-0.006352883297950029, -0.004840450827032328, 0.015377509407699108, -0.04080236703157425, -0.017882684245705605, -0.006862579844892025, -0.011339913122355938, 0.012605826370418072, -0.007695417385548353, -0.042214859277009964, 0.01262581441551447, -0.008161806501448154, -0.004310766234993935, -0.02942247875034809, 0.0... |
88 | MA | 2016 | Payments System Regulation. Regulators in several countries around the world either have, or are seeking to establish, authority to regulate certain aspects of the payments systems in their countries. Such authority has resulted in regulation of various aspects of our business, including interchange fees in various jur... | [0.018418027088046074, -0.004457762464880943, 0.014804858714342117, -0.04207971319556236, -0.0050903926603496075, 0.014400496147572994, -0.0017544083530083299, 0.009906862862408161, 0.006420873571187258, -0.025761757045984268, 0.02521391212940216, -0.03610559180378914, -0.005621932912617922, -0.0096720727160573, 0.0187... |
89 | MA | 2016 | Preferential or Protective Government Actions. Some governments have taken action to provide resources, preferential treatment or other protection to selected domestic payments and processing providers, as well as to create their own national providers. | [-0.011634927242994308, -0.022752156481146812, 0.008515466004610062, -0.010931389406323433, -0.0191415473818779, -0.0007595390779897571, -0.0030829571187496185, 0.0020011013839393854, 0.004921448417007923, -0.03031850978732109, 0.02909727394580841, 0.002641586586833, -0.003992246929556131, -0.012862800620496273, -0.001... |
90 | MA | 2016 | No-Surcharge Rules. We have historically implemented policies in certain regions that prohibit merchants from charging higher prices to consumers who pay using Mastercard products instead of other means. Authorities in several jurisdictions (including Australia and Canada) have acted to end or limit the application of ... | [0.0037106096278876066, -0.014362789690494537, 0.005799076519906521, -0.0540669783949852, -0.0005171204102225602, 0.011504887603223324, 0.002544798655435443, -0.01971885934472084, -0.020864684134721756, -0.04026377573609352, 0.014909056015312672, -0.0031959873158484697, 0.005132898688316345, -0.025847692042589188, -0.0... |
91 | MA | 2016 | Payments Oversight. Several central banks or similar regulatory bodies around the world have increased, or are seeking to increase, their formal oversight of the electronic payments industry. In some cases, these regulators could designate certain payments networks as “systemically important payment systems” or “critic... | [0.0004682410799432546, -0.006448516622185707, -0.0037459286395460367, -0.039283446967601776, -0.005068615078926086, -0.0006655501783825457, -0.02613062784075737, 0.000995380338281393, 0.00228693475946784, -0.021297605708241463, 0.033709991723299026, -0.019318625330924988, 0.011059408076107502, -0.011611368507146835, 0... |
92 | MA | 2016 | Financial Sector Oversight. We are or may be subject to regulations related to our role in the financial industry and our relationship with our financial institution customers. For example, certain of our operations are periodically reviewed by the U.S. Federal Financial Institutions Examination Council under its autho... | [0.016673307865858078, -0.02016701176762581, -0.006228047888725996, -0.04132477566599846, -0.028132135048508644, 0.006436627358198166, -0.001719149760901928, 0.016751525923609734, 0.010728797875344753, -0.02560310997068882, 0.012977544218301773, -0.009614202193915844, -0.010428965091705322, -0.034467730671167374, -0.01... |
93 | MA | 2016 | Data Protection and Information Security. Aspects of our operations or business are subject to privacy and data protection laws in the United States, the European Union and elsewhere around the world. For example, in the United States, we and our customers are respectively subject to Federal Trade Commission and feder... | [0.0012292398605495691, -0.01131450291723013, 0.02860306389629841, -0.07117145508527756, -0.0006756374496035278, 0.029663393273949623, -0.0005491574993357062, 0.011495535261929035, 0.0012712652096524835, -0.05487857013940811, 0.014624803327023983, -0.010247706435620785, -0.011941649951040745, -0.014120499603450298, 0.0... |
94 | MA | 2016 | Anti-Money Laundering. Mastercard is subject to anti-money laundering (“AML”) laws and regulations, including the USA PATRIOT Act. We have implemented a comprehensive AML program designed to prevent our payment network from being used to facilitate money laundering and other illicit activity. Our AML compliance program... | [-0.011837810277938843, -0.033777568489313126, -0.017985118553042412, -0.045785047113895416, -0.02170482836663723, 0.018324460834264755, 0.0015294855693355203, -0.002239982597529888, -0.02402801439166069, -0.017789345234632492, 0.027016833424568176, -0.01100903283804655, -0.003948112018406391, -0.02191365323960781, 0.0... |
95 | MA | 2016 | Economic Sanctions. We are subject to regulations imposed by the U.S. Office of Foreign Assets Control (“OFAC”) restricting financial transactions and other dealings with Crimea, Cuba, Iran, North Korea, Sudan and Syria and with persons and entities included in OFAC’s list of Specially Designated Nationals and Blocked ... | [-0.0036460035480558872, -0.02476017363369465, -0.003809257410466671, -0.03953465074300766, -0.015617955476045609, 0.01945442147552967, -0.03561655804514885, 0.017182471230626106, -0.004679944831877947, -0.02409355342388153, 0.010972022078931332, -0.0023195657413452864, 0.02269229106605053, 0.005458801984786987, -0.011... |
96 | MA | 2016 | Issuer Practice Regulation. Our customers are subject to numerous regulations and investigations applicable to banks and other financial institutions in their capacity as issuers and otherwise, impacting Mastercard as a consequence. Such regulations and investigations have been related to campus cards, bank overdraft p... | [0.006541787181049585, -0.013967419043183327, 0.0003986087685916573, -0.04218348115682602, -0.021721145138144493, 0.027332216501235962, -0.006930143106728792, 0.009856203570961952, -0.007981382310390472, -0.04360298812389374, 0.025082431733608246, -0.01819915883243084, 0.004693749360740185, -0.026903687044978142, -0.00... |
97 | MA | 2016 | Regulation of Internet and Digital Transactions. Various jurisdictions have enacted or have proposed regulation related to internet transactions. For example, under the Unlawful Internet Gambling Enforcement Act in the United States, payment transactions must be coded and blocked for certain types of internet gambling ... | [-0.0027042613364756107, -0.011360516771674156, 0.0077002695761621, -0.03326306864619255, -0.0297534242272377, 0.006564218085259199, -0.028548618778586388, 0.016919640824198723, -0.0044296192936599255, -0.03834420070052147, 0.02109716832637787, -0.007320494391024113, 9.048052334037493e-07, -0.012323050759732723, 0.0238... |
98 | MA | 2016 | Additional Regulatory Developments. Various regulatory agencies also continue to examine a wide variety of issues that could impact us, including evolving laws surrounding marijuana, prepaid payroll cards, virtual currencies, payment card add-on products, identity theft, account management guidelines, privacy, disclosu... | [-0.005554262548685074, -0.029995011165738106, 0.01191955991089344, -0.044779784977436066, -0.02511550299823284, 0.010570050217211246, -0.01241149939596653, 0.011101877316832542, -0.01652650721371174, -0.018866542726755142, 0.025288347154855728, -0.02433105930685997, 0.015263418667018414, -0.02205750159919262, 0.016473... |
99 | MA | 2016 | See “Management’s Discussion and Analysis of Financial Condition and Results of Operations-Seasonality” in Part II, Item 7. | [-0.01715233363211155, -0.0012208260595798492, -0.010558159090578556, -0.015880867838859558, -0.00971674732863903, 0.008420350030064583, -0.03709690645337105, 0.002636423334479332, -0.006961903069168329, -0.011486828327178955, 0.007460517343133688, 0.02379637025296688, -0.009087246842682362, 0.00190408353228122, 0.0096... |
100 | MA | 2016 | See Note 21 (Segment Reporting) to the consolidated financial statements included in Part II, Item 8 for certain geographic financial information. | [-0.011128043755888939, -0.0016490654088556767, 0.01531994342803955, -0.02425762638449669, -0.012267284095287323, 0.017283715307712555, -0.033132366836071014, 0.002866982016712427, 0.014325468800961971, -0.03497025743126869, 0.01657877117395401, 0.03705991059541702, -0.01671724207699299, -0.008427856490015984, -0.01427... |
101 | MA | 2016 | As of December 31, 2016, we employed approximately 11,900 persons, of whom approximately 6,600 were employed outside of the United States. | [-0.010394377633929253, -0.01481423620134592, -0.01378636248409748, -0.03029659017920494, -0.01891288533806801, 0.016921378672122955, -0.015392415225505829, 0.03497341647744179, 0.002714230213314295, 0.005107249598950148, 0.00072673917748034, 0.0021585356444120407, -0.002015596954151988, -0.018822945654392242, -0.00718... |
102 | MA | 2016 | Mastercard Incorporated was incorporated as a Delaware corporation in May 2001. We conduct our business principally through our principal operating subsidiary, Mastercard International Incorporated (“Mastercard International”), a Delaware non-stock (or membership) corporation that was formed in November 1966. For more ... | [-0.011582539416849613, -0.0035832482390105724, -0.026649411767721176, -0.06325406581163406, -0.024339286610484123, 0.012010104022920132, -0.016655882820487022, 0.01817469485104084, -0.0060592954978346825, -0.012680168263614178, 0.0003952581319026649, 0.005303079728037119, 0.0006421449361369014, -0.014754177071154118, ... |
103 | MA | 2016 | Our internet address is www.mastercard.com. From time to time, we may use our corporate website as a channel of distribution of material company information. Financial and other material information is routinely posted and accessible on the investor relations section of our corporate website. In addition, you may autom... | [-0.022006172686815262, -0.022876182571053505, -0.002411722904071212, -0.05332658439874649, -0.010887937620282173, 0.0013186110882088542, -0.014201657846570015, -0.01687566377222538, 0.0029186964966356754, -0.008834454230964184, 0.0077341459691524506, 0.008348271250724792, 0.00035863983794115484, -0.019089074805378914,... |
104 | MA | 2016 | Our annual report on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K and amendments to those reports are available for review, without charge, on the investor relations section of our corporate website as soon as reasonably practicable after they are filed with, or furnished to, the U.S. Securiti... | [-0.027322696521878242, -0.03593612089753151, 0.002857828978449106, -0.04286264255642891, -0.009686905890703201, -0.0035718868020921946, -0.026159757748246193, -0.01738020032644272, -0.006025562062859535, 0.0025303526781499386, 0.019028764218091965, 0.02470288798213005, -0.013942498713731766, 0.0006401760620065033, 0.0... |
105 | MA | 2016 | You may also read and copy any materials that we file with the SEC at its Public Reference Room at 100 F Street N.E., Washington, D.C. You may obtain information on the operation of the Public Reference Room by calling the SEC at 1-800-SEC-0330. In addition, our filings are available electronically from the SEC at www.... | [-0.013385509140789509, -0.01386172417551279, -0.030220361426472664, -0.029190706089138985, -0.011345505714416504, 0.006239063106477261, -0.011339071206748486, -0.008391684852540493, -0.00316457892768085, 0.0030036952812224627, 0.026616569608449936, 0.02142968587577343, 0.008983735926449299, -0.01632002554833889, -0.00... |
106 | MA | 2016 | Global regulatory, legislative and litigation focus on the payments industry may have a material adverse impact on our overall business and results of operations. | [-0.0073717739433050156, -0.01759796030819416, 0.0028018474113196135, -0.031806305050849915, -0.0033736855257302523, 0.005425293929874897, -0.023943929001688957, 0.020082827657461166, -0.004864606074988842, -0.024096842855215073, 0.012271422892808914, 0.007747689727693796, 0.00855049304664135, -0.011474991217255592, 0.... |
107 | MA | 2016 | Interchange rates are a significant component of the costs that merchants pay in connection with the acceptance of payment cards. Although we do not earn revenues from interchange, interchange rates can impact the volume of transactions we see on our cards. If interchange rates are too high, merchants may stop acceptin... | [-0.01296117715537548, -0.011041245423257351, 0.020234638825058937, -0.0329730249941349, -0.021610699594020844, 0.010739822871983051, 0.0007175171631388366, -0.007574884220957756, -0.012620438821613789, -0.03449324518442154, 0.027468783780932426, 0.009193393401801586, 0.004547551739960909, -0.0335758700966835, -0.00858... |
108 | MA | 2016 | Historically, we have set interchange rates in the United States and certain other countries. In some jurisdictions, such as the United States and the European Union, however, interchange rates related to certain products and related practices are subject to regulatory activity and litigation that have limited our abil... | [0.0013018980389460921, -0.0176470335572958, 0.01793762855231762, -0.033735424280166626, -0.006079376675188541, -0.006383180618286133, 0.0071063656359910965, 0.00914713367819786, -0.020500147715210915, -0.03666779026389122, 0.008995232172310352, -0.008295162580907345, 0.017514945939183235, -0.022309761494398117, -0.000... |
109 | MA | 2016 | More broadly, regulators increasingly have been seeking to establish or expand their authority to regulate certain aspects of payments systems such as ours, beyond just interchange rates. These regulations have established, and could further expand, obligations or restrictions with respect to the types of products that... | [-0.0008437478099949658, -0.015093293972313404, -0.0017633287934586406, -0.019839948043227196, -0.0270132627338171, 0.01489329431205988, -0.011753302998840809, 0.011466637253761292, -0.0018633285071700811, -0.02690659649670124, 0.030639920383691788, -0.020239947363734245, 0.000847497780341655, -0.02786659449338913, 0.0... |
110 | MA | 2016 | countries in which our products and services may be used, the way we structure and operate our business and the types of consumers and merchants who can obtain or accept our cards. These obligations and restrictions may further increase and could conflict as more jurisdictions impose oversight of payment systems. | [0.018577411770820618, -0.007111665327101946, -0.003961553797125816, -0.042194999754428864, -0.012752179056406021, 0.012508086860179901, -0.01756145991384983, 0.02374953217804432, -0.009691128507256508, -0.03525485843420029, 0.01494901068508625, -0.01836630515754223, -0.010693886317312717, -0.027206407859921455, 0.0099... |
111 | MA | 2016 | •The European Union adopted its Interchange Fee Regulation in 2015 regulating electronic payments issued and acquired within the EEA, including caps on consumer credit and debit interchange fees and the separation of brand and processing (which Mastercard implemented in 2016). | [-0.002362955594435334, -0.0025853512343019247, 0.002672020345926285, -0.057770583778619766, -0.031083084642887115, -0.02053890749812126, -0.007306356448680162, 0.012342967092990875, -0.01440339908003807, -0.02922542579472065, 0.023613201454281807, -0.019178368151187897, 0.010858148336410522, -0.027079960331320763, -0.... |
112 | MA | 2016 | •The European Commission issued a Statement of Objections in July 2015 related to our interregional interchange fees and central acquiring rules within the EEA, to which we have responded. | [0.004291953984647989, -0.0051359510980546474, 0.005698615685105324, -0.028761325404047966, -0.0227682925760746, 0.006967882625758648, -0.01756037212908268, -0.003938652575016022, -0.014145128428936005, -0.008485768921673298, 0.0025630684103816748, -0.015362054109573364, 0.02747897244989872, -0.022886058315634727, -0.0... |
113 | MA | 2016 | •Legislation regulating the level of domestic interchange rates has been enacted, or is being considered, in many jurisdictions. For example, debit interchange in the United States is capped by statute for certain regulated entities. Also, the Reserve Bank of Australia has proposed further reductions to debit interchan... | [-0.02083732932806015, -0.013202277012169361, 0.011141078546643257, -0.021433817222714424, -0.024071620777249336, 0.012619043700397015, 0.006445388775318861, 0.0031647025607526302, -0.003979903180152178, -0.03268756717443466, 0.022467730566859245, 0.004573077894747257, 0.0233956016600132, -0.020903605967760086, 0.00181... |
114 | MA | 2016 | •Several jurisdictions have created or granted authority to create new regulatory bodies that either have or would have the authority to regulate payment systems, including the United Kingdom and India (both of which have designated us as a payments system subject to regulation), as well as Belgium, Brazil, Mexico and ... | [0.010815253481268883, -0.012682921253144741, 0.004980447236448526, -0.026147348806262016, -0.014146589674055576, 0.007099786773324013, -0.01339157484471798, 0.010179451666772366, 0.0013038903707638383, -0.02131260558962822, 0.021034441888332367, -0.03862495720386505, 0.004400940611958504, -0.006411001551896334, 0.0082... |
115 | MA | 2016 | Merchants and consumers are also seeking interchange fee reductions and acceptance rule changes through litigation. Such litigation includes individual and/or class action suits filed by merchants against Mastercard, Visa and our customers in the United States (where approval of a 2012 settlement agreement was overturn... | [-0.010751152411103249, -0.009943648241460323, 0.005075264722108841, -0.04110930860042572, -0.02995106764137745, 0.009943648241460323, -0.001615842804312706, 0.007981612347066402, -0.018272286280989647, -0.05170696973800659, 0.02545306831598282, -0.007861487567424774, 0.033821750432252884, -0.019179895520210266, 0.0083... |
116 | MA | 2016 | If issuers cannot collect, or we are forced to reduce, interchange rates, issuers may be less willing to participate in our four-party payments system, or may reduce the benefits offered in connection with the use of our products, reducing the attractiveness of our products to consumers. In particular, any changes to o... | [-0.017146052792668343, -0.009116386994719505, 0.014087132178246975, -0.035043418407440186, -0.013832221738994122, 0.01956098899245262, -0.017226550728082657, 0.014087132178246975, -0.014046883210539818, -0.03882681950926781, 0.026054486632347107, 0.007264934945851564, 0.022499162703752518, -0.024162786081433296, 0.006... |
117 | MA | 2016 | We are devoting substantial resources to defending our right to establish interchange rates in regulatory proceedings, litigation, and legislative activity. The potential outcome of any legislative, regulatory, or litigation action could have a more positive or negative impact on Mastercard relative to its competitors.... | [-0.009934923611581326, -0.005473468452692032, 0.00010965540423057973, -0.030823400244116783, -0.01862632855772972, 0.016311267390847206, -0.0002962039434351027, 0.017065316438674927, -0.018613100051879883, -0.023904670029878616, -0.0008507853490300477, 0.0007875345763750374, 0.0300825797021389, -0.020478378981351852, ... |
118 | MA | 2016 | Additionally, increased focus on regulation of payment systems may result in costly compliance burdens or otherwise increase our costs, which could materially and adversely impact our financial performance. Moreover, failure to comply with the laws and regulations to which we are subject could result in fines, sanction... | [-0.008241990581154823, -0.028428709134459496, 0.011523224413394928, -0.043862175196409225, -0.015628008171916008, 0.01907784305512905, -0.019557707011699677, 0.019428012892603874, 0.002623041160404682, -0.01612084172666073, 0.01710650883615017, -0.0037319164257496595, 0.0048732147552073, -0.004422531928867102, 0.01481... |
119 | MA | 2016 | Limitations on our ability to restrict merchant surcharging could materially and adversely impact our results of operations. | [-0.008966192603111267, -0.027504924684762955, -0.0008458215743303299, -0.047682084143161774, -0.017093820497393608, 0.015442493371665478, -0.01669389009475708, -0.007637389935553074, 0.006992340087890625, -0.02363462559878826, 0.0008393711177632213, 0.020061049610376358, -0.0032429881393909454, -0.030033519491553307, ... |
120 | MA | 2016 | We have historically implemented policies, referred to as no-surcharge rules, in certain jurisdictions, including the United States, that prohibit merchants from charging higher prices to consumers who pay using Mastercard products instead of other means. Authorities in several jurisdictions have acted to end or limit ... | [-0.0020725771319121122, -0.014671576209366322, 0.010666596703231335, -0.05793870985507965, 0.007949884980916977, 0.012568961828947067, 0.0011981565039604902, -0.015525972470641136, -0.0134033327922225, -0.03647201880812645, 0.014578127302229404, 0.0019958149641752243, 0.00479930080473423, -0.02795475907623768, -0.0177... |
121 | MA | 2016 | Current regulatory activity could be extended to additional jurisdictions or products, which could materially and adversely affect our overall business and results of operations. | [-0.010720831342041492, -0.025830382481217384, 0.0067568267695605755, -0.030270583927631378, -0.019678452983498573, 0.026872865855693817, -0.02492947317659855, 0.007689912337809801, 0.003442764049395919, -0.013758186250925064, 0.0008880400564521551, 0.0076834773644804955, 0.00404766108840704, -0.00855221226811409, 0.00... |
122 | MA | 2016 | Regulators around the world increasingly look at each other’s approaches to the regulation of the payments and other industries. In some areas, such as interchange fees, we believe that regulators are increasingly cooperating on their approaches. Consequently, a development in any one country, state or region may influ... | [0.008801055140793324, -0.009404405951499939, 0.03155788034200668, -0.034259844571352005, -0.009929059073328972, 0.012952372431755066, -0.004177549853920937, 0.01211948599666357, -0.008132122457027435, -0.05094381049275398, 0.018546486273407936, -0.0253800917416811, 0.007732074242085218, -0.005918742157518864, 0.005331... |
123 | MA | 2016 | As a result, the risks to our business created by any one new law or regulation are magnified by the potential it has to be replicated in other jurisdictions or involve other products. These include matters like interchange rates, potential direct regulation of Mastercard’s network fees and pricing, network standards a... | [-0.0008428687578998506, -0.015842271968722343, 0.011116215959191322, -0.047074176371097565, -0.01354580745100975, 0.006130559369921684, -0.005275209899991751, 0.020528389140963554, -0.006263687741011381, -0.039219606667757034, -0.003166790120303631, -0.008932910859584808, 0.024628741666674614, -0.01000459399074316, 0.... |
124 | MA | 2016 | Preferential and protective government actions related to domestic payment services could adversely affect our ability to maintain or increase our revenues. | [-0.008640151470899582, -0.03374025598168373, 0.015348508954048157, -0.00949358195066452, -0.01721414551138878, 0.003962825983762741, -0.022625818848609924, -0.004114988259971142, 0.01488540694117546, -0.023459400981664658, 0.022003939375281334, 0.010624872520565987, 0.009930220432579517, -0.02799779735505581, 0.000888... |
125 | MA | 2016 | Governments in some countries, such as China, Russia and India, have acted, or in the future may act, to provide resources, preferential treatment or other protection to selected national payment and processing providers, or have created, or may in the future create, their own national provider. This action may displac... | [-0.009803193621337414, -0.02302534133195877, 0.02072412148118019, -0.01353116799145937, -0.02319628931581974, 0.004717499017715454, -0.022617695853114128, 0.0004696952528320253, -0.0022502634674310684, -0.03374244645237923, 0.02106601744890213, 0.010145088657736778, 0.015858687460422516, -0.01893574558198452, 0.000687... |
126 | MA | 2016 | •Governments in some countries are considering, or may consider, regulatory requirements that mandate processing of domestic payments either entirely in that country or by only domestic companies. In particular, we are currently excluded from domestic processing in China and are seeking market access, which is uncertai... | [-0.0005839047953486443, -0.0076734647154808044, -0.012234986759722233, -0.02113194949924946, -0.022781014442443848, 0.010439635254442692, -0.00873072724789381, -0.004827500320971012, -0.015386826358735561, -0.02587965689599514, 0.013418588787317276, -0.001984860748052597, 0.004780954215675592, -0.028353251516819, 0.00... |
127 | MA | 2016 | •Regional groups of countries, such as the Gulf Cooperation Countries in the Middle East and a number of countries in South East Asia, are considering, or may consider, efforts to restrict our participation in the processing of regional transactions. | [-0.01116518210619688, -0.018347039818763733, 0.031075214967131615, -0.018439367413520813, -0.029386918991804123, 0.02379443496465683, -0.01787220500409603, 0.011086043901741505, 0.0004995644558221102, -0.03289541229605675, 0.003752503776922822, 0.01297218818217516, 0.004682385828346014, -0.018188761547207832, 0.004454... |
128 | MA | 2016 | Such developments prevent us from utilizing our global processing capabilities for domestic or regional customers. Our efforts to effect change in, or work with, these countries may not succeed. This could adversely affect our ability to maintain or increase our revenues and extend our global brand. | [-0.01831202022731304, -0.01648614928126335, 0.026961585506796837, -0.01735243946313858, -0.010182229802012444, 0.021537281572818756, -0.016566114500164986, 0.013060975819826126, 0.0060640242882072926, -0.018485277891159058, 0.009355923160910606, 0.022203657776117325, 0.0005185240879654884, -0.03137299790978432, -0.002... |
129 | MA | 2016 | Regulation of privacy, data protection and security could increase our costs, as well as negatively impact our growth. | [0.010930550284683704, -0.02446967177093029, 0.047463275492191315, -0.04097365587949753, -0.007513958029448986, 0.019303428009152412, -0.024316973984241486, 0.00624466547742486, 0.0022681846749037504, -0.030132180079817772, 0.002373163588345051, -0.0004564999835565686, 0.03275347501039505, -0.015486006624996662, 0.0168... |
130 | MA | 2016 | We are subject to regulations related to privacy, data protection and information security in the jurisdictions in which we do business. These regulations could result in negative impacts to our business. As we continue to develop products and services to meet the needs of a changing marketplace, we may expand our info... | [-0.003256347728893161, -0.015669062733650208, 0.02014593780040741, -0.061081044375896454, -0.021033594384789467, 0.04469156637787819, -0.019232552498579025, 0.007667291909456253, 0.012684480287134647, -0.03630385547876358, 0.008503490127623081, -0.0034380601719021797, 0.010072968900203705, -0.013211927376687527, 0.021... |
131 | MA | 2016 | New requirements in these areas, either from new regulations or laws or any additions or changes (as well as the manner in which they could be interpreted or applied) may also increase our costs and could impact aspects of our business such as fraud monitoring, the development of information-based products and solution... | [-0.0021270494908094406, -0.019564306363463402, 0.0004322346649132669, -0.04152052849531174, -0.01834234967827797, 0.020149284973740578, -0.012843544594943523, -0.0044718412682414055, -0.014884471893310547, -0.024569129571318626, 0.01492347102612257, -0.006256028078496456, 0.0028517739847302437, -0.015144462697207928, ... |
132 | MA | 2016 | Regulations affecting the global payments industry may materially and adversely affect our overall business and results of operations. | [-0.015816744416952133, -0.024895070120692253, 0.014435815624892712, -0.031607914716005325, -0.009487489238381386, 0.013118819333612919, -0.036875899881124496, 0.01226213201880455, 0.013323401100933552, -0.02787429466843605, 0.005510927177965641, 0.008803417906165123, 0.013540769927203655, -0.02070113830268383, 0.02507... |
133 | MA | 2016 | We are subject to regulations that affect the payments industry in the many jurisdictions in which our cards and other devices are used. Many of our customers are also subject to regulations applicable to banks and other financial institutions that, at times, consequently affect us. Regulation of the payments industry,... | [0.003933669067919254, -0.015656717121601105, 0.011830241419374943, -0.03040391393005848, -0.012999622151255608, 0.015773653984069824, -0.012375952675938606, 0.028195083141326904, -0.016605215147137642, -0.04438451677560806, 0.013460878282785416, -0.011914696544408798, 0.0032742677722126245, -0.02464796043932438, 0.014... |
134 | MA | 2016 | •Increased Payments Oversight - Several central banks or similar regulatory bodies around the world that have increased, or are seeking to increase, their formal oversight of the electronic payments industry are in some cases considering designating certain payments networks as “systemically important payment systems” ... | [-0.0018513675313442945, -0.017875272780656815, -0.0014918460510671139, -0.04109968617558479, -0.01132324617356062, 0.014649659395217896, -0.02237769030034542, 0.0013952456647530198, -0.005859863478690386, -0.02735051140189171, 0.02603338472545147, -0.015375422313809395, 0.007943072356283665, -0.014071736484766006, 0.0... |
135 | MA | 2016 | •Anti-Money Laundering and Economic Sanctions - We are subject to AML laws and regulations, including the USA PATRIOT Act in the United States, as well as the various economic sanctions programs administered by OFAC, including restrictions on financial transactions with certain countries and with persons and entities i... | [-0.011805464513599873, -0.024318864569067955, -0.004362319130450487, -0.035239409655332565, -0.015443461947143078, 0.022155730053782463, -0.015509011223912239, 0.012349525466561317, -0.017698364332318306, -0.012972245924174786, 0.02018924616277218, 0.005614314693957567, -0.002076280303299427, -0.0019566526170819998, 0... |
136 | MA | 2016 | jurisdictions (or their sympathizers) may take similar or other actions in response to sanctions that could negatively impact us. | [-0.0038643712177872658, -0.035681359469890594, 0.020689863711595535, -0.0348292700946331, -0.017441261559724808, 0.023365965113043785, -0.016189752146601677, -0.008201387710869312, 0.022420676425099373, -0.027479974552989006, 0.030542179942131042, -0.008334526792168617, 0.015630565583705902, 0.0013214086648076773, -0.... |
137 | MA | 2016 | •Financial Sector Oversight - In the United States, the CFPB regulates consumer financial products, and can continue to do so by amending existing requirements or imposing new ones. The CFPB also has supervisory and independent examination authority as well as enforcement authority over certain financial institutions, ... | [0.0075829531997442245, -0.006654695142060518, -0.004896234255284071, -0.03312966227531433, -0.01826445758342743, 0.0023843811359256506, -0.0029155146330595016, 0.02078775130212307, -0.0005270479014143348, -0.02006867714226246, 0.01955878920853138, -0.003719569183886051, -0.00868771132081747, -0.0329466238617897, -0.00... |
138 | MA | 2016 | •Issuer Practice Legislation and Regulation - Our financial institution customers are subject to numerous regulations, which impact us as a consequence. Existing or new regulations in these or other areas may diminish the attractiveness of our products to our customers. In addition to regulation and investigation of is... | [0.0064922538585960865, -0.004314686171710491, 0.016759857535362244, -0.015087917447090149, -0.02143859677016735, 0.037888336926698685, -0.006498995702713728, 0.00881813932210207, -0.004877617582678795, -0.041286151856184006, 0.03198260813951492, 0.0022888060193508863, 0.002659599296748638, -0.0236229058355093, -6.4414... |
139 | MA | 2016 | •Regulation of Internet and Digital Transactions - Proposed legislation in various jurisdictions relating to Internet gambling and other digital areas such as cyber-security, copyright, trademark infringement and privacy could impose additional compliance burdens on us and/or our customers, including requiring us or ou... | [0.011342781595885754, -0.023146651685237885, 0.005918402690440416, -0.02564970590174198, -0.01885194145143032, 0.020959774032235146, -0.02649283967912197, 0.024688005447387695, 0.004419864621013403, -0.030484549701213837, 0.0271383635699749, -0.004647115245461464, 0.0061687082052230835, -0.012344002723693848, 0.026084... |
140 | MA | 2016 | Increased regulatory focus on us, such as in connection with the matters discussed above, may result in costly compliance burdens and/or may otherwise increase our costs. Similarly, increased regulatory focus on our customers may cause such customers to reduce the volume of transactions processed through our systems. F... | [-0.01147705689072609, -0.03251618519425392, 0.018584348261356354, -0.023224011063575745, -0.02120620757341385, 0.02384091727435589, -0.01571829803287983, 0.012383139692246914, -0.0019856721628457308, -0.02035795897245407, 0.012312452308833599, 0.0038653132505714893, 0.014638708904385567, -0.0023712394759058952, 0.0128... |
141 | MA | 2016 | Liabilities we may incur for any litigation that has been or may be brought against us could materially and adversely affect our results of operations. | [-0.016919368878006935, -0.01982269063591957, -0.012827184051275253, -0.039745498448610306, -0.004824272356927395, 0.011675865389406681, -0.02442796342074871, 0.026805685833096504, 0.012939812615513802, -0.0036103827878832817, -0.004583371803164482, 0.026355169713497162, 0.001941284746862948, 0.0015807157615199685, -0.... |
142 | MA | 2016 | We are a defendant on a number of civil litigations and regulatory proceedings and investigations, including among others, those alleging violations of competition and antitrust law and those involving intellectual property claims. See Note 18 (Legal and Regulatory Proceedings) to the consolidated financial statements ... | [-0.023405542597174644, -0.012506728991866112, 0.00725506991147995, -0.03169149532914162, -0.012973543256521225, 0.021979166194796562, -0.015729043632745743, 0.02891654334962368, 0.00812386255711317, -0.02847566269338131, 0.0022838234435766935, 0.01521036121994257, 0.009128809906542301, -0.012104750610888004, 0.0073652... |
143 | MA | 2016 | Limitations on our business resulting from litigation or litigation settlements may materially and adversely affect our overall business and results of operations. | [-0.01330933254212141, -0.02472282201051712, -0.00043753310455940664, -0.04496223106980324, -0.026439327746629715, 0.01347585953772068, -0.01961173117160797, 0.017997700721025467, 0.011131674982607365, -0.016319623216986656, -0.002465877216309309, 0.02472282201051712, 0.010228587314486504, -0.0033593575935810804, 0.003... |
144 | MA | 2016 | Certain limitations have been placed on our business in recent years because of litigation and litigation settlements, such as changes to our no-surcharge rule in the United States. Any future limitations on our business resulting from litigation or litigation settlements could impact our relationships with our custome... | [-0.006112269125878811, -0.02378685772418976, 0.015350205823779106, -0.04982525855302811, -0.023217352107167244, 0.021601540967822075, -0.009396868757903576, 0.009893531911075115, -0.006678465288132429, -0.01917782425880432, 0.0012739412486553192, 0.021892916411161423, 0.005840759724378586, -0.01078752614557743, -0.001... |
145 | MA | 2016 | Substantial and intense competition worldwide in the global payments industry may materially and adversely affect our overall business and results of operations. | [-0.022170506417751312, -0.01785174384713173, 0.016877779737114906, -0.030628619715571404, -0.00980372168123722, 0.020261023193597794, -0.03211519867181778, 0.018992306664586067, -0.0019623462576419115, -0.031833261251449585, -0.0016804090701043606, 0.022439628839492798, 0.0076379319652915, -0.02765546552836895, 0.0198... |
146 | MA | 2016 | The global payments industry is highly competitive. Our payment programs compete against all forms of payment, including cash and checks; electronic, mobile and e-commerce payment platforms; cryptocurrencies; ACH payment services; and other payments networks, which can have several competitive impacts on our business: | [-0.014143149368464947, -0.0016725983005017042, 0.0070189982652664185, -0.02231883630156517, -0.014024851843714714, 0.01863846369087696, -0.026630131527781487, 0.017021726816892624, -0.010147315450012684, -0.0326501689851284, 0.0010063521331176162, 0.0060660443268716335, -0.0025466871447861195, -0.03275532275438309, 0.... |
147 | MA | 2016 | •Within the global general purpose payments industry, we face substantial and increasingly intense competition worldwide from systems such as Visa, American Express, Discover, UnionPay, JCB and PayPal among others. | [-0.01825862191617489, -0.015307733789086342, 0.01292331051081419, -0.016256233677268028, -0.02529332973062992, 0.0058128549717366695, -0.024595128372311592, 0.010262241587042809, -0.00899757444858551, -0.02927175909280777, 0.019734065979719162, 0.014793962240219116, 0.01107241865247488, -0.0348573699593544, 0.00939278... |
148 | MA | 2016 | •In certain jurisdictions, including the United States, Visa has greater volume, scale and market share than we do, which may provide significant competitive advantages. Visa’s acquisition of Visa Europe in 2016 may provide it with additional competitive advantages. | [-0.003635547822341323, -0.019590109586715698, 0.024978043511509895, -0.047026727348566055, -0.005848916247487068, 0.017759257927536964, -0.028012026101350784, 0.015588391572237015, -0.025161128491163254, -0.021721744909882545, -0.011612828820943832, 0.010193918831646442, -0.0031631228048354387, -0.034550782293081284, ... |
149 | MA | 2016 | •Some of our traditional competitors, as well as alternative payment service providers, may have substantially greater financial and other resources than we have, may offer a wider range of programs and services than we offer or may use more effective advertising and marketing strategies to achieve broader brand recogn... | [-0.0030351763125509024, -0.019716933369636536, 0.006284521427005529, -0.0017091690097004175, -0.016611482948064804, 0.031402528285980225, -0.01378712896257639, 0.015875276178121567, -0.007067576982080936, -0.025834135711193085, 0.008125036023557186, 0.027868740260601044, -0.010260033421218395, -0.04021022841334343, 0.... |
150 | MA | 2016 | •Our ability to compete may also be affected by the outcomes of litigation, competition-related regulatory proceedings, central bank activity and legislative activity. | [-0.0093214251101017, -0.023984123021364212, 0.025248482823371887, -0.026370923966169357, -0.010940578766167164, 0.009347228333353996, -0.015481951646506786, 0.026164498180150986, -0.013753133825957775, -0.026732169091701508, -0.004873589146882296, 0.020345864817500114, 0.00998585857450962, -0.010250342078506947, -0.00... |
151 | MA | 2016 | Certain of our competitors, including American Express, Discover, private-label card networks and certain alternative payments systems, operate three-party payments systems with direct connections to both merchants and consumers. These competitors may derive competitive advantages from their business models: | [-0.013903096318244934, 0.009152652695775032, 0.011307763867080212, -0.02057868428528309, -0.020539263263344765, 0.025217430666089058, 0.002293091034516692, 0.008495606482028961, 0.005216946359723806, -0.02956707589328289, 0.015440584160387516, 0.0220373272895813, -0.003922565374523401, -0.024875767529010773, -0.011524... |
152 | MA | 2016 | •Operators of three-party payments systems tend to have greater control over consumer and merchant customer service than operators of four-party payments systems such as ours, in which we must typically rely on our issuing and acquiring financial institution customers. Our inability to control end-to-end processing may... | [-0.0066472003236413, -0.008287771604955196, 0.007785070687532425, -0.03505319729447365, -0.03570535033941269, 0.020583564415574074, -0.017594531178474426, 0.021928628906607628, -0.01653478294610977, -0.013817481696605682, 0.016942379996180534, 0.030107708647847176, -0.011045833118259907, -0.025569813326001167, 0.00383... |
153 | MA | 2016 | •Even when competitors operate programs that utilize a four-party system, these competitors have generally not attracted the same level of regulatory or legislative scrutiny of their pricing and business practices as have operators of four-party payments systems such as ours. | [-0.0021752524189651012, -0.008153019472956657, 0.014862553216516972, -0.03469711169600487, -0.009543042629957199, 0.013084927573800087, -0.0007397027220577002, 0.013546041212975979, -0.017522308975458145, -0.019366763532161713, -0.010532096959650517, 0.021505258977413177, -0.011561249382793903, -0.024913489818572998, ... |
154 | MA | 2016 | If we continue to attract more regulatory scrutiny than these competitors because we operate a four-party system, or we are regulated because of the system we operate in a way in which our competitors are not, we could lose business to these competitors. See “Business-Competition” in Part I, Item 1. | [0.00113491911906749, -0.016764918342232704, 0.01851372793316841, -0.02028883807361126, -0.01014441903680563, 0.02113036997616291, -0.005492975935339928, 0.025390632450580597, 0.007540925405919552, -0.02779689058661461, 0.001254081609658897, 0.02457539737224579, -0.006396966520696878, -0.007836776785552502, -0.00491113... |
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