Exhibit 12.1

MASTERCARD INCORPORATED

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

	Three Months Ended March 31, 2015		Years Ended December 31,
			2014		2013		2012		2011		2010
	(in millions, except ratios)
Pre-tax income before adjustment for non-controlling interests	$	1,340	$	5,082	$	4,502	$	3,932	$	2,746	$	2,757
Loss attributable to non-controlling interests and equity investments		8		27		37		25		18		1
Add: Fixed charges		18		50		20		25		29		56
Earnings	$	1,366	$	5,159	$	4,559	$	3,982	$	2,793	$	2,814
Fixed charges:
Interest expense	$	17	$	48	$	14	$	20	$	25	$	52
Portion of rental expense under operating leases deemed to be the equivalent of interest(1)		1		2		6		5		4		4
Total fixed charges	$	18	$	50	$	20	$	25	$	29	$	56
Ratio of earnings to fixed charges		75.9		103.2		228.0		159.3		96.3		50.3

(1) Portion of rental expense under operating leases deemed to be the equivalent of interest at an appropriate interest factor.