The company said it incurred a $495m after-tax charge related to merchant litigations in the US over the fees they pay on credit card transactions.
Excluding the charge, the company posted a net income of $514m, or $4.03 diluted earnings per share.
Revenue increased 20.2% to $1.73bn for the fourth quarter of 2011, compared to $1.44bn for the same period a year ago.
The gains were driven by the impact of 17.5% increase in cross-border volumes, a 23.2% increase to 7.7 billion in processed transactions.
MasterCard president and CEO Ajay Banga said that solid execution at the local level continued to result in new business wins in 2011, with a recent agreement from KeyBank that includes PIN debit and their IPS platform, as well as credit and debit deals with nearly 150 US-based independent banks and credit unions.
