Mastercard has implemented changes to its fee structure, effective January 1, 2026. This includes an increase in the fee for 'Undefined' authorizations from 0.25% to 0.30%, with the minimum fixed fee rising from $0.04 to $0.05. Additionally, mail/telephone order fees will now be calculated based on authorization volume, encompassing both approved and declined transactions, and a $75 cap on declined transactions over $500.00. Mastercard shares closed 2025 at $570.88, down 1.13% on December 31. This reflects cautious market sentiment, despite the company's strong Q3 2025 earnings and ongoing strategic focus on digital identity, agentic commerce, and crypto integration for 2026.