Mastercard is asking Brazilian payment processors to collectively absorb roughly 2.5 billion reais (about $440 million) in losses tied to the collapse of Banco Master and its fintech arm Will Bank. The bank was placed into extrajudicial liquidation on November 18, 2025, after fraud allegations revealed 17 billion reais in accounting discrepancies, exposing 1.6 million creditors holding 41 billion reais in deposits. Will Bank, acquired by Banco Master in 2024, was liquidated in January 2026. Mastercard, which has already reimbursed approximately 2.5 billion reais to acquirers for unsettled merchant payments, is now proposing to distribute the remaining financial liability across the entire payment ecosystem. The Central Bank of Brazil is actively examining new rules related to card network obligations in light of this crisis.
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