What is the primary purpose of this 8-K filing?

The primary purpose of this 8-K filing is to disclose Mastercard's payment program performance results for the three months and the full year ended December 31, 2002. It also includes restated historical data for 2000 and 2001 to ensure consistency and allow for comparative analysis.

What key financial or operational metrics are provided in the tables?

The tables provide data on Gross Dollar Volume (GDV), Purchase Volume, Cash Volume, Purchase Transactions, Cash Transactions, Accounts, and Cards. These metrics are broken down by region and by program type (credit, off-line debit, and all programs excluding on-line debit).

How does Mastercard calculate growth rates, and should I be concerned about currency fluctuations?

Mastercard reports period-over-period growth rates for volume-based data (GDV, purchase volume, cash volume) solely based on local currency information. This is done to eliminate the impact of foreign currency exchange rate fluctuations. Information denominated in U.S. dollars is calculated using average quarterly exchange rates, but the growth rates themselves are not directly extrapolatable from the dollar volume figures due to this methodology.

Does the provided data include all Mastercard transactions?

No, the tables specifically exclude Maestro(R) and Cirrus(R) on-line debit transactions, Mondex(R) transactions, and other branded transactions not processed by Mastercard. The data also includes transactions for which Mastercard does not earn revenues.

MA 8-K SEC Disclosure — Feb 3, 2003

Summary

This 8-K filing from Mastercard Inc. provides a detailed breakdown of its payment program performance for the three months and full year ended December 31, 2002. The report focuses on key metrics such as Gross Dollar Volume (GDV), purchase volume, cash volume, and transaction counts across various regions and program types (credit, off-line debit). Notably, the company has restated prior year data (2000 and 2001) to align with the presentation methodology used for 2002, ensuring a consistent basis for comparison and highlighting growth trends. For investors, the key takeaway is the demonstrated growth across most metrics and regions in 2002. The filing allows for an analysis of Mastercard's market penetration and transaction volume expansion, particularly in emerging markets like South Asia/Middle East Africa and Latin America, which show strong percentage growth rates. Understanding these performance indicators is crucial for assessing the company's operational health and its ability to capitalize on the increasing adoption of electronic payments globally.

Key Highlights

1Mastercard Inc. released performance data for Q4 and the full year 2002, including restated figures for 2000 and 2001 for comparable analysis.
2Worldwide Gross Dollar Volume (GDV) for all programs except on-line debit increased by 15.2% to $1,141.5 billion for the full year 2002.
3Worldwide Purchase Volume for all programs (excluding on-line debit) grew by 14.4% to $803.0 billion in 2002.
4The United States remains the largest market, contributing significantly to overall GDV and purchase volume, with double-digit growth rates observed.
5Emerging regions like South Asia/Middle East Africa and Latin America exhibited particularly strong growth rates in GDV and purchase volume, indicating expanding market share in these areas.
6Off-line debit programs showed robust growth, with worldwide GDV up 20.1% and purchase volume up 19.0% for the full year 2002.
7The filing clarifies definitions for GDV, purchase volume, and cash volume, and notes that the data includes estimates and may reflect routine portfolio changes among members.

Mastercard Inc 8-K Report (Feb 3, 2003)

Summary

Key Highlights

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