Mastercard statement 2018
This statement relates to Mastercard Inc. (“Mastercard”) and addresses the Modern Slavery Act 2015 (‘the Act’).
Section 54 of the Act requires certain organisations to develop a slavery and human trafficking statement each year. The slavery and human trafficking statement should set out what steps organisations have taken to ensure modern slavery is not taking place in their business or supply chains.
We are a technology company in the global payments industry. We operate the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. Our products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone.
Our success is tied in part to the trust that people place in us to deliver our products and services in the right way – so for us, acting ethically and responsibly is not only the right thing to do, but also the right way to do business. We have a Code of Conduct for our employees that reflects these core values and serves as an important guide for our choices and actions.
Our stock is listed on the NYSE under the symbol “MA” and our website is www.mastercard.com. Our global headquarters are in Purchase, NY, USA, and we have regional headquarters in each of Asia/Pacific, Europe, Latin America/Caribbean, Middle East & Africa and North America.
Mastercard’s Policies and Systems on Modern Slavery and Human Trafficking
Code of Conduct
We have a Code of Conduct for our employees, which sets out our commitment to ensuring that we all act and are treated ethically, fairly and with respect and dignity. We recognise that our employees’ continuing success as individuals, colleagues and a company depends on all of us treating each other with respect and upholding the highest professional and ethical standards.
All of our employees are required to attest to the Code of Conduct on an annual basis.
In addition, we have Whistleblower policies and procedures in place to encourage employees to speak up or raise concerns when they see conduct, which could be viewed as dishonest, unethical or unlawful, and we have policies prohibiting retaliation for raising such concerns.
We do not use, and we expect our suppliers not to use, any forms of modern slavery. Modern slavery is defined as all situations in which a person is forcibly or subtly controlled through coercion, mental or physical abuse or the threat of abuse by an individual or a group of individuals for the purpose of exploitation. This includes circumstances such asslavery, servitude, trafficking in persons, indentured labour, forced or compulsory labour and debt bondage.
Mastercard maintains employment and personnel policies that comply with the relevant labour laws and promote our culture of decency and respect. These policies dictate that we provide equal opportunities in employment and that employees are treated fairly regardless of non-vocational distinctions such as age, gender (including identity or expression), marital status, civil partnership status, sexual orientation, disability, colour, nationality, race or ethnic origin or religion or belief. The Employee Relations and Human Resources groups (reporting to the Chief Human Resources Officer) maintain and enforce these policies along with the Global Ethics and Compliance Team (reporting to the Chief Compliance Officer), supporting our efforts to combat modern slavery across our operations.
Supplier Code of Conduct
Mastercard sources products and services from suppliers globally and expects that our suppliers do not use any form of modern slavery. It is important to note that Mastercard does not manufacture goods or handle raw materials or commodities. As a technology company, our suppliers primarily provide products and services relating to marketing, technology, corporate services, and consumer benefits. In an effort to mitigate the risk of modern slavery in our supply chain, our suppliers are contractually bound by standards of ethical conduct when dealing with workers, their suppliers, customers and other third parties, as articulated in our Supplier Code of Conduct, which is embedded into our supplier agreements.
The Supplier Code of Conduct outlines the principles, guidelines and expectations for establishing and maintaining a business relationship with us. We are committed to partnerships with suppliers that share our dedication to conducting business in a legal, ethical and social responsible manner.
In addition, our suppliers can raise concerns and report anonymously any ethically questionable behavior using our Mastercard Ethics Helpline.
For more information on our supply chain operations including our Supplier Code of Conduct, please visit our procurement website.
Human Rights / Labour and Employment Laws
Suppliers must be committed to, and have respect for, the protection and preservation of human rights. While it is the responsibility of each supplier to define its own policy and approach to the issue of human rights, suppliers’ values and business principles must be consistent with that of Mastercard and the United Nations Declaration of Human Rights. Suppliers are expected to comply with applicable international and local legal requirements in their countries of operation.
Suppliers must not use forced labour, whether in the form of prison labour, indentured labour, bonded labour, or otherwise.
Suppliers must not use child labour. Suppliers are required to comply with applicable child labour laws and employ only workers who meet the applicable minimum legal age requirement in their countries of operation.
We are proud of our stance as an ethical company which believes in doing well by doing good for society. We endorse the principles of the Act and have a number of policies in place which include provisions designed to eradicate modern slavery from our business and supply chains.
This statement is made in accordance with Section 54 of the UK Modern Slavery Act 2015 on behalf of the companies listed below for the financial year ending December 31, 2018.
Mastercard Payment Gateway Services Limited
Mastercard Prepaid Management Services Limited
Mastercard Europe Services Limited
Mastercard UK Management Services Limited