The Business StudyHome/Compare/Visa vs Mastercard
Visa vs Mastercard: who makes more money?
Visa is bigger: $45.9 billion in revenue against $32.8 billion for Mastercard, about 1.4 times as much. It also keeps more of each sale: $51.20 of every $100 versus $45.65. Across 5 rounds from their latest annual reports, Visa wins 4.
From each company's latest Form 10-K: Visa (year ended September 30, 2026) and Mastercard (year ended December 31, 2025). Page updated November 8, 2026.
Revenue Money coming in
Net profit After every cost and tax
Kept per $100 of sales Profit margin
Employees As each 10-K states it
Revenue per employee Revenue ÷ employees
Growth over 5 years Revenue, first to latest year shown
How each one makes its money.
VisaVisa runs the network that moves card payments. It doesn't lend money: banks pay Visa fees on every swipe, and Visa gives some back as incentives.
How Visa makes moneyMastercardMastercard runs a card payment network and charges fees on the money that moves through it. It doesn't lend money itself.
How Mastercard makes moneyQuick answers.
Who makes more money, Visa or Mastercard?
Visa: $45.9 billion in revenue against $32.8 billion.
Which is more profitable, Visa or Mastercard?
Visa keeps more of each dollar ($51.20 of every $100). In total profit, Visa made more: $23.5 billion.
Which has more employees, Visa or Mastercard?
Mastercard, with about 39,800 against 34,800.
Sources: Visa Inc. Form 10-K and Mastercard Incorporated Form 10-K on SEC EDGAR. Fiscal years can end in different months, so each side uses its own latest year. Profit means net income.