Exhibit 99.1

MasterCard Incorporated Reports

First-Quarter 2009 Financial Results

• First-quarter net income of $367 million, or $2.80 per diluted share

• First-quarter net revenue decline of 2.2%, to $1.2 billion

• First-quarter gross dollar volume and purchase volume up 0.3%

Purchase, NY, May 1, 2009 – MasterCard Incorporated (NYSE:MA) today announced financial results for the first quarter 2009. The company reported net income of $367 million, or $2.80 per diluted share.

Net revenue for the first quarter of 2009 was $1.2 billion, a 2.2% decline versus the same period in 2008. The decline in net revenue growth was primarily due to the unfavorable impact of foreign currency exchange and higher rebates and incentives, partially offset by pricing, increased processed transactions and increases in other payment-related services. On a constant currency basis, net revenue increased 1.8% compared to the same period in 2008.

MasterCard’s gross dollar volume was up 0.3%, on a local currency basis, versus the first quarter of 2008, to $550 billion. Worldwide purchase volume during the quarter was also up 0.3% on a local currency basis versus the first quarter of 2008, to $411 billion. The number of processed transactions increased 5.8% compared to the same period in 2008, to 5.1 billion. As of March 31, 2009, the company’s financial-institution customers had issued 967 million MasterCard cards, an increase of 4.0% over the cards issued at March 31, 2008.

“As we navigate through these challenging economic times, we’ve taken important steps to better align our operations with the current environment,” said Robert W. Selander, MasterCard president and chief executive officer. “We've taken considerable cost-reduction actions allowing us to deliver a strong operating margin of 48.6%, while keeping focused to ensure MasterCard is well positioned for long-term growth.

“As we move forward,” Selander added, “we're maintaining a flexible and adaptable approach to ensure we continue to deliver value to our customers. Whether through the innovative products and solutions we offer, or our unmatched advisory and information services, we're making payments easier and more efficient for everyone involved.”

Total operating expenses decreased 10.8%, to $595 million, during the first quarter of 2009 compared to the same period in 2008. Currency fluctuations contributed 2.9 percentage points to the rate of decline. The decrease in total operating expenses was driven by:

• A 3.0% decrease in general and administrative expenses, primarily resulting from continued initiatives to reduce travel expenses, professional fees and personnel costs, which included severance costs of $19 million in the quarter. Currency fluctuations representing approximately 2.6 percentage points contributed to the rate of decline; and

-more-

MasterCard Incorporated – Page 2

• A 35.4% decrease in advertising and marketing expenses versus the year-ago period related to cost containment initiatives, and a favorable foreign currency impact of 3.0 percentage points.

The operating margin was 48.6% for the first quarter of 2009, up 5.0 percentage points over the year-ago period.

Total other expense was $11 million in the first quarter of 2009 versus total other income of $173 million in the first quarter of 2008. The decrease was primarily due to gains realized in the first quarter of 2008 from the sale of a portion of the company’s investment in Redecard S.A. Interest expense versus the year-ago period increased $20 million, primarily due to the interest accretion associated with a litigation settlement that occurred in the second quarter of 2008.

MasterCard's effective tax rate was 33.2% in the first quarter of 2009, versus 35.1% in the comparable period in 2008. The decrease was primarily due to an adjustment of deferred taxes.

There were no special items for the first quarter of 2009. The special item for the first quarter of 2008 related to a $75 million pre-tax gain from the termination of a customer business agreement. The company's total other income, net income and earnings per share, excluding special items, are non-GAAP financial measures that are reconciled to their most directly comparable GAAP measures in the accompanying GAAP Reconciliations.

First-Quarter 2009 Financial Results Conference Call Details

At 9:00 a.m. EDT today, the company will host a conference call to discuss its first-quarter 2009 financial results.

The dial-in information for this call is 866-711-8198 (within the U.S.) and 617-597-5327 (outside the U.S.) and the passcode is 20007083. A replay of the call will be available for one week thereafter. The replay can be accessed by dialing 888-286-8010 (within the U.S.) and 617-801-6888 (outside the U.S.) and using passcode 64388164.

The live call and the replay, along with supporting materials, can also be accessed through the Investor Relations section of the company’s website at www.mastercard.com.

MasterCard Incorporated – Page 3

About MasterCard Incorporated

MasterCard Incorporated advances global commerce by providing a critical economic link among financial institutions, businesses, cardholders and merchants worldwide. As a franchisor, processor and advisor, MasterCard develops and markets payment solutions, processes approximately 21 billion transactions each year, and provides industry-leading analysis and consulting services to financial-institution customers and merchants. Powered by the MasterCard Worldwide Network and through its family of brands, including MasterCard^®, Maestro^® and Cirrus^®, MasterCard serves consumers and businesses in more than 210 countries and territories. For more information go to www.mastercard.com.

Forward-Looking Statements

Statements in this press release which are not historical facts, including statements about MasterCard’s plans, strategies, beliefs and expectations, are forward-looking and subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements speak only as of the date they are made. Accordingly, except for the company’s ongoing obligations under the U.S. federal securities laws, the company does not intend to update or otherwise revise the forward-looking information to reflect actual results of operations, changes in financial condition, changes in estimates, expectations or assumptions, changes in general economic or industry conditions or other circumstances arising and/or existing since the preparation of this press release or to reflect the occurrence of any unanticipated events. Such forward-looking statements include, without limitation:

• The company’s ability to be well positioned for long-term growth; and

• The company’s ability to continue making payments easier and more efficient for all involved through the offering of innovative products and solutions, and advisory and information services.

Actual results may differ materially from such forward-looking statements for a number of reasons, including those set forth in the company’s filings with the Securities and Exchange Commission (SEC), including the company’s Annual Report on Form 10-K for the year ended December 31, 2008, the company’s Quarterly Reports on Form 10-Q and Current Reports on Form 8-K that have been filed with the SEC during 2008 and 2009, as well as reasons including difficulties, delays or the inability of the company to achieve its strategic initiatives set forth above. Factors other than those listed above could also cause the company’s results to differ materially from expected results.

###

Contacts:

Investor Relations: Barbara Gasper, investor_relations@mastercard.com, 914-249-4565

Media Relations: Chris Monteiro, chris_monteiro@mastercard.com, 914-249-5826

MasterCard Incorporated – Page 4

MASTERCARD INCORPORATED

CONSOLIDATED STATEMENTS OF OPERATIONS

(UNAUDITED)

	Three Months Ended March 31,
	2009			2008
	(In thousands, except per share data)
Revenues, net	$	1,156,102		$	1,182,084
Operating Expenses
General and administrative		447,853			461,625
Advertising and marketing		115,969			179,588
Depreciation and amortization		30,987			25,264
Total operating expenses		594,809			666,477
Operating income		561,293			515,607
Other Income (Expense)
Investment income, net		17,401			114,770
Interest expense		(35,798	)		(15,318	)
Other income, net		6,982			73,522
Total other income (expense)		(11,415	)		172,974
Income before income taxes		549,878			688,581
Income tax expense		182,668			241,703
Net income		367,210			446,878
Loss attributable to non-controlling interests		48			—
Net Income Attributable to MasterCard	$	367,258		$	446,878
Basic Earnings per Share	$	2.81		$	3.37
Basic Weighted Average Shares Outstanding		129,636			131,426
Diluted Earnings per Share	$	2.80		$	3.37
Diluted Weighted Average Shares Outstanding		129,975			131,764

MasterCard Incorporated – Page 5

MASTERCARD INCORPORATED

CONSOLIDATED BALANCE SHEETS

(UNAUDITED)

	March 31, 2009			December 31, 2008
	(In thousands, except share data)
ASSETS
Cash and cash equivalents	$	1,678,192		$	1,505,160
Investment securities, at fair value:
Available-for-sale		597,669			588,095
Municipal bonds held-to-maturity		—			154,000
Accounts receivable		533,654			639,482
Income taxes receivable		—			198,308
Settlement due from customers		554,624			513,191
Restricted security deposits held for customers		205,262			183,245
Prepaid expenses		206,572			213,612
Deferred income taxes		257,577			283,795
Other current assets		73,350			32,619
Total Current Assets		4,106,900			4,311,507
Property, plant and equipment, at cost (less accumulated depreciation of $289,634 and $278,269)		454,227			306,798
Deferred income taxes		553,338			567,567
Goodwill		281,277			297,993
Other intangible assets (less accumulated amortization of $376,759 and $377,570)		375,512			394,282
Investment securities available-for-sale, at fair value		191,240			191,760
Municipal bonds held-to-maturity		36,909			37,450
Prepaid expenses		316,381			302,095
Other assets		99,528			66,397
Total Assets	$	6,415,312		$	6,475,849
LIABILITIES AND EQUITY
Accounts payable	$	262,622		$	262,342
Settlement due to customers		530,842			532,237
Restricted security deposits held for customers		205,262			183,245
Obligations under litigation settlements		710,735			713,035
Accrued expenses		898,228			1,032,061
Short-term debt		—			149,380
Other current liabilities		143,615			118,151
Total Current Liabilities		2,751,304			2,990,451
Deferred income taxes		69,436			74,518
Obligations under litigation settlements		898,875			1,023,263
Long-term debt		18,407			19,387
Other liabilities		447,961			436,255
Total Liabilities		4,185,983			4,543,874
Commitments and Contingencies
Stockholders’ Equity
Class A common stock, $.0001 par value; authorized 3,000,000,000 shares, 105,255,954 and 105,126,588 shares issued and 98,515,364 and 98,385,998 outstanding, respectively		10			10
Class B common stock, $.0001 par value; authorized 1,200,000,000 shares, 30,848,778 issued and outstanding, respectively.		4			4
Class M common stock, $.0001 par value; authorized 1,000,000 shares, 1,765 and 1,728 shares issued and outstanding, respectively		—			—
Additional paid-in-capital		3,320,352			3,304,604
Class A treasury stock, at cost, 6,740,590 shares, respectively		(1,250,000	)		(1,250,000	)
Retained earnings (accumulated deficit)		111,477			(236,100	)
Accumulated other comprehensive income:
Cumulative foreign currency translation adjustments		99,662			175,040
Defined benefit pension and other postretirement plans, net of tax		(42,166	)		(43,207	)
Investment securities available-for-sale, net of tax		(17,977	)		(22,996	)
Total accumulated other comprehensive income		39,519			108,837
Total Stockholders’ Equity		2,221,362			1,927,355
Non-controlling interests		7,967			4,620
Total Equity		2,229,329			1,931,975
Total Liabilities and Equity	$	6,415,312		$	6,475,849

MasterCard Incorporated – Page 6

MASTERCARD INCORPORATED

CONSOLIDATED STATEMENTS OF CASH FLOWS

(UNAUDITED)

	Three Months Ended March 31,
	2009			2008
	(In thousands)
Operating Activities
Net income	$	367,210		$	446,878
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		30,987			25,264
Gain on sale of Redecard S.A. available-for-sale securities		—			(85,903	)
Share based payments		14,596			11,051
Stock units settled in cash for taxes		(7,253	)		(65,760	)
Tax benefit for share based compensation		(7,962	)		(40,661	)
Impairment of assets		15,258			7,309
Accretion of imputed interest on litigation settlements		25,612			7,982
Deferred income taxes		40,311			(31,982	)
Other		(2,318	)		2,550
Changes in operating assets and liabilities:
Trading securities		—			2,561
Accounts receivable		101,517			16,369
Income taxes receivable		190,000			—
Settlement due from customers		(69,438	)		(20,861	)
Prepaid expenses, current		4,076			(28,280	)
Other current assets		(65,817	)		(12,122	)
Prepaid expenses, non-current		(23,497	)		1,679
Litigation settlement payments		(152,300	)		—
Accounts payable		2,921			10,046
Settlement due to customers		31,557			(46,381	)
Accrued expenses		(106,545	)		(5,994	)
Net change in other assets and liabilities		27,168			30,167
Net cash provided by operating activities		416,083			223,912
Investing Activities
Purchases of property, plant and equipment		(11,932	)		(12,447	)
Capitalized software		(15,962	)		(19,279	)
Purchases of investment securities available-for-sale		(15,334	)		(385,048	)
Proceeds from sales and maturities of investment securities, available-for-sale		12,707			640,920
Investment in affiliates		(17,789	)		(2,624	)
Acquisition of business, net of cash acquired		(2,913	)		—
Other investing activities		1,693			514
Net cash provided by (used in) investing activities		(49,530	)		222,036
Financing Activities
Dividends paid		(19,676	)		(20,038	)
Cash proceeds from exercise of stock options		431			1,671
Tax benefit for share based compensation		7,962			40,661
Purchase of treasury stock		—			(294,112	)
Payment of debt		(149,380	)		—
Redemption of non-controlling interest		(4,620	)		—
Net cash used in financing activities		(165,283	)		(271,818	)
Effect of exchange rate changes on cash and cash equivalents		(28,238	)		39,125
Net increase in cash and cash equivalents		173,032			213,255
Cash and cash equivalents — beginning of period		1,505,160			1,659,295
Cash and cash equivalents — end of period	$	1,678,192		$	1,872,550

MasterCard Incorporated – Page 7

MASTERCARD INCORPORATED OPERATING PERFORMANCE

	For the 3 Months ended March 31, 2009
	GDV (Bil.)		Growth (USD)		Growth (Local)		Purchase Volume (Bil.)	Growth (Local)		Purchase Trans. (Mil.)	Cash Volume (Bil.)	Growth (Local)		Cash Trans. (Mil.)	Accounts (Mil.)	Cards (Mil.)	Acceptance Locations (Mil.)
All MasterCard Credit, Charge and Debit Programs
APMEA	$	103	2.4	%	16.1	%	$  69	15.0	%	932	$  34	18.3	%	248	226	248	8.8
Canada		19	-19.7	%	-0.3	%	17	1.9	%	223	3	-12.0	%	5	35	42	0.8
Europe		153	-16.1	%	3.9	%	114	4.2	%	1,541	39	2.8	%	257	180	195	8.4
Latin America		37	-16.0	%	7.1	%	20	10.4	%	445	17	3.4	%	137	95	116	2.9
United States		238	-8.0	%	-8.0	%	192	-7.1	%	3,334	46	-11.5	%	257	323	366	7.9
Worldwide		550	-9.7	%	0.3	%	411	0.3	%	6,475	139	0.3	%	904	861	967	28.8
MasterCard Credit and Charge Programs
United States		128	-17.2	%	-17.2	%	113	-13.9	%	1,387	15	-36.0	%	10	206	239
Worldwide less United States		241	-13.8	%	4.6	%	194	7.1	%	2,665	47	-4.7	%	236	439	495
Worldwide		369	-15.0	%	-4.1	%	307	-1.7	%	4,052	61	-14.7	%	246	645	734
MasterCard Debit Programs
United States		110	5.6	%	5.6	%	79	4.9	%	1,946	32	7.4	%	247	117	127
Worldwide less United States		71	-0.4	%	19.7	%	25	12.9	%	477	46	23.7	%	411	99	106
Worldwide		181	3.2	%	10.7	%	103	6.8	%	2,423	78	16.5	%	658	216	233
APMEA = Asia Pacific / Middle East / Africa
	For the 3 Months ended March 31, 2008
	GDV (Bil.)		Growth (USD)		Growth (Local)		Purchase Volume (Bil.)	Growth (Local)		Purchase Trans.(Mil.)	Cash Volume (Bil.)	Growth (Local)		Cash Trans. (Mil.)	Accounts (Mil.)	Cards (Mil.)
All MasterCard Credit, Charge and Debit Programs
APMEA	$	100	28.2	%	19.8	%	$  68	22.7	%	798	$  32	14.3	%	192	197	215
Canada		24	31.6	%	13.0	%	20	13.1	%	212	4	12.7	%	5	31	37
Europe		182	30.3	%	17.5	%	136	17.9	%	1,448	47	16.3	%	247	169	182
Latin America		44	28.7	%	20.8	%	22	22.7	%	416	21	18.8	%	135	82	102
United States		259	8.9	%	8.9	%	206	10.3	%	3,253	52	3.8	%	253	336	394
Worldwide		609	19.9	%	14.1	%	453	15.0	%	6,126	157	11.6	%	832	815	930
MasterCard Credit and Charge Programs
United States		154	4.4	%	4.4	%	131	6.0	%	1,490	23	-4.0	%	15	228	278
Worldwide less United States		280	29.3	%	17.8	%	220	19.7	%	2,467	59	11.2	%	244	410	462
Worldwide		434	19.2	%	12.7	%	352	14.2	%	3,956	82	6.5	%	260	638	740
MasterCard Debit Programs
United States		104	16.4	%	16.4	%	75	18.7	%	1,763	30	10.8	%	238	108	116
Worldwide less United States		71	30.7	%	20.0	%	26	15.0	%	407	45	23.0	%	335	69	74
Worldwide		175	21.7	%	17.8	%	101	17.7	%	2,170	75	17.9	%	572	177	190

Note that columns in the tables above may not add due to rounding; growth represents change from the comparable year-ago period.

MasterCard Incorporated – Page 8

Footnote

The tables set forth the gross dollar volume (“GDV”), purchase volume, cash volume and the number of purchase transactions, cash transactions, accounts, cards and acceptance locations on a regional and global basis for MasterCard^®-branded and MasterCard Electronic^™-branded cards. Growth rates over prior periods are provided for volume-based data.

Debit transactions on Maestro^® and Cirrus^®-branded cards, Mondex^® transactions and transactions involving brands other than MasterCard are not included in the preceding tables.

For purposes of the table: GDV represents purchase volume plus cash volume and includes the impact of balance transfers and convenience checks; “purchase volume” means the aggregate dollar amount of purchases made with MasterCard-branded cards for the relevant period; and “cash volume” means the aggregate dollar amount of cash disbursements obtained with MasterCard-branded cards for the relevant period. The number of cards includes virtual cards, which are MasterCard-branded payment accounts in connection with which functional cards are not generally issued. Acceptance locations include merchant locations, ATMs and other locations where cash may be obtained.

The MasterCard payment product is comprised of credit, charge and debit programs, and data relating to each type of program is included in the tables. Debit programs include MasterCard-branded debit programs where the primary means of cardholder validation at the point of sale is for cardholders either to sign a sales receipt or enter a PIN. The tables include information with respect to transactions involving MasterCard-branded cards that are not processed by MasterCard and transactions for which MasterCard does not earn significant revenues.

Information denominated in U.S. dollars is calculated by applying an established U.S. dollar/local currency exchange rate for each local currency in which MasterCard volumes are reported. These exchange rates are calculated on a quarterly basis using the average exchange rate for each quarter. MasterCard reports period-over-period rates of change in purchase volume and cash volume on the basis of local currency information, in order to eliminate the impact of changes in the value of foreign currencies against the U.S. dollar in calculating such rates of change.

The data set forth in the GDV, purchase volume, purchase transactions, cash volume and cash transactions columns is provided by MasterCard customers and is subject to verification by MasterCard and partial cross-checking against information provided by MasterCard’s transaction processing systems. The data set forth in the accounts and cards columns is provided by MasterCard customers and is subject to certain limited verification by MasterCard. A portion of the data set forth in the accounts and cards columns reflects the impact of routine portfolio changes among customers and other practices that may lead to over counting of the underlying data in certain circumstances. In order to provide a true indication of how broadly our cards can be used, MasterCard seeks to provide the most accurate acceptance figures possible and to maintain that MasterCard acceptance is unsurpassed worldwide by periodically validating our results with third parties. The data set forth in the acceptance locations column is derived through a proprietary methodology designed to minimize the impact of multiple acquiring in certain markets. This data is based on information provided by our customers and other third parties and is subject to certain limited verification by MasterCard and partial cross-checking against information provided by MasterCard’s transaction processing systems. All data is subject to revision and amendment by MasterCard’s customers subsequent to the date of its release.

Performance information for prior periods can be found in the “Investor Relations” section of MasterCard’s website at www.mastercard.com.

MasterCard Incorporated – Page 9

GAAP Reconciliations

($ in millions, except per share data)	Three Months Ended March 31, 2008
	Actual			Special Item			Non - GAAP
Other income (expense), net	$	74		$	75	(a)	$	(1	)
Total other income		173			75			98
Income before income taxes		689			75			614
Income taxes		242			26			216
Net Income	$	447		$	49		$	398
Basic Net Income per Share	$	3.37	(b)	$	(0.36	)	$	3.01	(b)
Diluted Net Income per Share	$	3.37	(b)	$	(0.37	)	$	3.00	(b)

a - Gain from the termination of a customer business agreement

b - Amounts have been revised to conform with the adoption of FASB Staff Position EITF 03-06-1

Note that the figures in the preceding tables may not sum due to rounding

For more information about these reconciliations, refer to MasterCard Incorporated’s Form 8-K filed with the Securities and Exchange Commission on May 1, 2009.

###