Mastercard Adjusts Strategy as Iran War Hits Cross-Border Payments Growth

Mastercard's cross-border payments business is closely tied to international travel and commerce and has long been a major driver of transaction growth. The Iran war has heightened geopolitical risks in the Middle East, disrupting flights, travel and spending patterns while creating greater uncertainty for payment companies' transaction volumes and revenue forecasts.

Mastercard said on its latest earnings call that growth in cross-border travel payments slowed from 8% in the first quarter of 2026 to 2% in April. CEO Michael Miebach said the company had launched a data-monitoring platform for clients in the Middle East to track shifts in spending and transaction activity, using those insights to fine-tune its 2026 outlook.