Mastercard delivered a solid QQ3 2024 with currency-neutral net revenue up 14% year over year, driven by continued strength in the payment network and a particularly robust value-added services (VAS) portfolio. Global gross dollar volume (GDV) expanded 10% YoY, with cross-border GDV up 17% and U.S. GDV up 7% as Wells Fargo commercial credit and Citizens debit migrations contributed to mix. VAS and solutions net revenue rose 19% YoY, underscoring the company’s differentiated offering in cybersecurity, data insights, and open banking. Management highlighted strong consumer spending, ongoing secular shift to digital payments, and meaningful reacceleration in commercial and new payment flows, including disbursements and cross-border capabilities. The quarter featured two strategic acquisitions—Recorded Future (threat intelligence) and Minna Technologies (subscription lifecycle management)—along with continued expansion of Mastercard Move and tap-on-phone adoption. A broad-based buyback program supported EPS growth, with $2.9 billion repurchased in Q3 and an additional $983 million through late October. The company signaled a cautious but constructive near-term outlook, guiding Q4 net revenue growth in the low-teens on a currency-neutral basis, with modest FX headwinds and higher OpEx related to marketing sponsorships. Overall, Mastercard remains well-positioned to monetize the secular growth in digital payments, deepen its leadership in value-added services, and unlock incremental flows in commercial, open banking, and cross-border ecosystems.