Exhibit 21

LIST OF SUBSIDIARIES OF MASTERCARD INCORPORATED

Name	Jurisdiction
Cirrus System, LLC	Delaware
MasterCard Europe sprl	Belgium
European Payment Systems Services sprl	Belgium
euro travellers cheque International S.A.	Belgium
EUROCARD U.S.A., Inc.	New Jersey
Eurocard Limited	England
MasterCard International Incorporated	Delaware
MasterCard Advisors, LLC	Delaware
MasterCard Advisors LLP, APMEA	Delaware
MasterCard Advisors, LLP Europe	Delaware
MasterCard Africa, Inc.	Delaware
MasterCard A/P Payment Services, Inc.	Delaware
MasterCard Asia/Pacific Pte Ltd.	Singapore
MasterCard Asia/Pacific (Australia) Pty. Ltd.	Australia
MasterCard Asia/Pacific (Hong Kong) Limited	Hong Kong
MasterCard Australia Ltd.	Delaware
MasterCard Brasil S/C Ltda.	Brazil
MasterCard Brasil Soluções de Pagamento Ltda.	Brazil
MasterCard Canada, Inc.	Delaware
MasterCard Cardholder Solutions, Inc.	Delaware
MasterCard Chip Standards Holdings, Inc.	Delaware
MasterCard China Holdings, LLC	Delaware
MasterCard Colombia, Inc.	Delaware
MasterCard Cono Sur S.R.L.	Argentina
MasterCard Dominicana, Inc.	Delaware
MasterCard EMEA, Inc.	Delaware
MasterCard/Europay U.K. Limited	England
MasterCard Financing Solutions, LLC	Delaware
MasterCard Foreign Sales Corporation	Barbados
MasterCard Global Holding LLC	Delaware
MasterCard Global Promotions & Sponsorships Annex, Inc.	Delaware
MasterCard Holding Incorporated	Delaware
MasterCard Hong Kong Ltd.	Delaware
MasterCard International Incorporated Chile Ltda.	Chile
MasterCard International Far East Ltd.	Delaware

Name	Jurisdiction
MasterCard International Global Maatschap	Belgium
MasterCard International Holding LLC	Delaware
MasterCard International Japan Inc.	Delaware
MasterCard International Korea Ltd.	South Korea
MasterCard International Philippines, Inc.	Delaware
MasterCard International, LLC	Delaware
MasterCard International Services, Inc.	Delaware
MasterCard Korea Ltd.	Delaware
MasterCard Mercosur, Inc.	Delaware
MasterCard Mexico, Sociedad de R. L. de C.V.	Mexico
MasterCard Middle East, Inc.	Delaware
MasterCard Netherlands B.V.	The Netherlands
MasterCard New Zealand Limited	New Zealand
MasterCard Originator SPC, Inc.	Delaware
MasterCard Panama, S.R.L.	Panama
MasterCard Peru, Inc.	Delaware
MasterCard Puerto Rico, LLC	Puerto Rico
MasterCard Services SPC, Inc.	Delaware
MasterCard Singapore Ltd.	Delaware
MasterCard South Asia, Inc.	Delaware
MasterCard Taiwan Ltd.	Delaware
MasterCard Travelers Cheque, Inc.	Delaware
MasterCard UK, Inc.	Delaware
MasterCard Uruguay Limitada	Uruguay
MasterCard Venezuela, Inc.	Delaware
MC Indonesia, Inc.	Delaware
Maestro International Incorporated	Delaware
Maestro Asia/Pacific Ltd.	Delaware
Maestro Canada, Inc.	Delaware
Maestro Latin America, Inc.	Delaware
Maestro Middle East/Africa, Inc.	Delaware
Maestro U.S.A., Inc.	Delaware
Mondex International Limited	England
MAOSCO Limited	England
Mondex International Americas, Inc.	New Jersey
Mondex Asia Pte. Ltd.	Singapore

Name	Jurisdiction
Mondex International (Australia) Pty. Ltd.	Australia
MasterCard Global Key Centre Limited	England
MXI Management Limited	England
MasterCard UK Inc Pension Trustees Limited	England
MasterCard UK Management Services Limited	England
Bright Skies LLC	Delaware
Clear Skies LLC	Delaware
EMVCo, LLC	Delaware
MasterCard Japan K.K.	Japan
MasterCard GTS Holdings Private Ltd.	Mauritius
MasterCard Global Technology Services Private Limited	India
Mastermanager LLC	Delaware
MC Beneficiary Trust	New York
MTS Holdings, Inc.	Delaware
Purchase Street Research, LLC	Delaware
The Tower Group, Inc.	Massachusetts
Towergroup Europe Limited	England
SET Secure Electronic Transaction LLC	Delaware