NEW YORK, Feb 9, 2026, 18:13 EST — After-hours
- Mastercard dropped 2.4% Monday, trailing behind a rising U.S. market.
- European officials are reviving efforts to reduce dependence on U.S. card networks, bringing renewed attention to transaction fees and questions over market dominance.
- Next up for consumer-linked stocks: U.S. jobs numbers and inflation data, both landing later this week.
Mastercard Incorporated dropped 2.4% Monday, finishing regular trading at $535.33. Post-market, shares held steady. Visa retreated 1.8%. American Express ticked up—just 0.1%. Mastercard’s session ranged from $534.47 to $548.60, volume hitting roughly 4.1 million shares.
The decision landed just as Europe’s payments debate flared up again. Martina Weimert, who heads the European Payments Initiative, told the Financial Times that Europe remains “highly dependent” on global payment solutions—and, she said, the region needs to move “urgently” to develop cross-border alternatives. Visa and Mastercard processed nearly two-thirds of card transactions in the euro zone during 2022, according to European Central Bank figures cited by the paper. 1
Tech stocks bounced back Monday, lifting U.S. indexes after last week’s dip. Next up for investors: inflation reports and payroll data due later in the week, both critical for gauging rate bets and consumer demand. 2
Fees and routing are the main battlegrounds for card networks in Europe. “Interchange” or “swipe” fees—those payments that flow from merchants with every card sale—remain in focus, since any pivot to local payment schemes or fresh infrastructure chips away at the networks’ grip on pricing, even when consumers keep spending.
Mastercard has kept transaction volumes steady and seen its services segment expand, but shares have wobbled on regulatory worries globally. Last month, the company topped Wall Street’s profit forecasts and announced plans to trim roughly 4% of its worldwide full-time staff, a move expected to result in a $200 million restructuring charge in the first quarter. 3
Mastercard isn’t the only one under fire. Both Visa and Mastercard have dealt with years of pushback from merchants over card acceptance fees, culminating in a revised settlement unveiled with merchants last November. 4
Still, building up homegrown European options takes time, and consumer payment habits don’t shift overnight. For traders, the more immediate worry is a growth scare that hits travel and discretionary spending—or a fresh round of policy moves bringing card fees back under scrutiny.
Investors are bracing for fresh U.S. data—January’s Employment Situation lands Feb. 11, with January CPI following on Feb. 13. Payment stocks, sensitive to consumer spending and cross-border volumes, could see swift moves if those numbers upend the rates outlook. 5
