MasterCard 2015 Annual Report Download - page 42

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36
The following table provides a summary of the trend in volume and transaction growth:
Years Ended December 31,
2015 2014
Growth
(USD)
Growth
(Local)
Growth
(USD)
Growth
(Local)
MasterCard-branded GDV 1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 % 13% 10 % 13%
Asia Pacific/Middle East/Africa . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 % 14% 14 % 17%
Canada. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — % 16% — % 7%
Europe . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (6)% 16% 9 % 14%
Latin America . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (11)% 15% 5 % 15%
United States. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 % 7% 8 % 8%
Cross-border Volume 1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16% 16%
Processed Transactions Growth. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12% 12%
1 Excludes volume generated by Maestro and Cirrus cards.
A significant portion of our revenue is concentrated among our five largest customers. In 2015, the net revenue from these
customers was approximately $2.3 billion, or 24%, of total net revenue. The loss of any of these customers or their significant
card programs could adversely impact our revenue. In addition, as part of our business strategy, MasterCard, among other efforts,
enters into business agreements with customers. These agreements can be terminated in a variety of circumstances. See our
risk factor in “Risk Factor - Business Risks” in Part I, Item 1A for further discussion.
The significant components of our net revenue were as follows:
For the Years Ended December 31, Percent Increase (Decrease)
2015 2014 2013 2015 2014
(in millions, except percentages)
Domestic assessments . . . . . . . . . . . . . . . . $ 4,086 $ 3,967 $ 3,688 3% 8%
Cross-border volume fees . . . . . . . . . . . . . 3,225 3,054 2,715 6% 12%
Transaction processing fees. . . . . . . . . . . . 4,345 4,035 3,554 8% 14%
Other revenues . . . . . . . . . . . . . . . . . . . . . . 1,991 1,688 1,331 18% 27%
Gross revenue . . . . . . . . . . . . . . . . . . . . . . . 13,647 12,744 11,288 7% 13%
Rebates and incentives (contra-revenue). (3,980) (3,303) (2,976) 20% 11%
Net revenue. . . . . . . . . . . . . . . . . . . . . . . . . $ 9,667 $ 9,441 $ 8,312 2% 14%