INDEX / DIRECTORY / MASTERCARD / V-MIL

Mastercard V-MIL

MILITARY AUDIT UPDATED 2026-06-02
V-MIL Score 0.00 /10 C Mastercard — BDS-1000 471
V-MIL 0.00

Evidence-only forensic audit. Scoring happens downstream — see the main dossier for the composite assessment.

Domain Audit: Mastercard — V-MIL Audit

Direct Defence Contracting & Procurement

No public evidence identified of Mastercard holding direct contracts with the Israeli Ministry of Defence (IMOD), Israel Defence Forces (IDF), Israel Prison Service, or Israel Border Police for payment processing or card services 1.

Isracard Ltd., Mastercard’s principal licensing partner in Israel (98.2% owned by Bank Hapoalim), issues Hever consumer club cards for IDF career personnel and retirees, but this is a consumer discount programme, not a defence procurement contract 1.

Mastercard does not appear in SIBAT (Israel Defence Export Directorate) listings, defence exhibition catalogues, or formal MoU announcements with Israeli state security bodies. No public evidence identified 2.

Dual-Use Products & Tactical Variants

The FinSec Innovation Lab is a joint venture between Mastercard and Enel X, established in 2019 and located in Be’er Sheva Advanced Technologies Park. The Lab is licensed by the Israel Innovation Authority (a civilian R&D body), not IMOD 34.

No defence-specific product lines have been identified in connection with the FinSec Innovation Lab 34.

Dynamic Yield is an Israeli AI personalization platform acquired by Mastercard in 2022 for approximately $320 million 56.

No public evidence identified of defence-specific applications or contracts with Israeli military end-users for Dynamic Yield 56.

Portfolio companies LayerX (browser security), Onyxia, and HolistiCyber (cybersecurity) are mentioned as FinSec Lab participants. No public evidence identified of these companies having defence contracts or of Mastercard supplying military-grade variants of any products 34.

Heavy Machinery, Construction & Infrastructure

Mastercard is a payment network and financial services company. It does not manufacture, sell, or operate heavy machinery, construction equipment, or military engineering platforms.

No public evidence identified of Mastercard equipment appearing in NGO investigations, UN reports, or photographic documentation related to settlement construction, separation barrier maintenance, or military installation construction in occupied territories.

No public evidence identified of Mastercard holding construction or engineering contracts for checkpoints, detention facilities, military bases, or settlement infrastructure.

Supply Chain Integration with Defence Primes

Mastercard is not a hardware or component manufacturer. It does not produce optical assemblies, electronic sub-systems, propulsion units, structural materials, guidance electronics, communication modules, or armour components.

No public evidence identified of any supply relationship between Mastercard and Elbit Systems, Israel Aerospace Industries (IAI), Rafael Advanced Defense Systems, IMI Systems, or any other Israeli defence prime for components, sub-assemblies, raw materials, or specialist manufacturing.

No public evidence identified of joint development programmes, co-production agreements, technology transfer arrangements, or licensed manufacturing agreements between Mastercard and any Israeli defence prime.

Mastercard does not appear on any disclosed Israeli defence prime supplier or sub-contractor lists.

Logistical Sustainment & Base Services

Hever (חבר) Consumer Club Cards are issued by Isracard as co-branded Mastercard-branded cards for IDF career personnel, retirees, disabled veterans, and their spouses. The programme provides discounts at participating merchants—a consumer benefits programme, not a logistics or base services contract 1.

No public evidence identified of Mastercard holding contracts to provide catering, transport, fuel, facilities management, telecommunications, or operational support services to IDF bases, military detention centres, or security installations.

No public evidence identified of Mastercard involvement in shipping, freight forwarding, port logistics, or military supply chain sustainment.

Bank Hapoalim (Mastercard’s principal issuing partner via Isracard) operates branches in West Bank settlements including Ariel, Beitar Illit, Modi’in Illit, Ma’ale Adumim, Pisgat Ze’ev, Gilo, and Ramot 278.

These branches process Mastercard-branded transactions through the licensing relationship 27.

Bank Hapoalim is listed in the UN OHCHR settlement database for banking and financial operations supporting settlements 910.

No public evidence identified that Mastercard has taken any action to address or restrict transaction processing at settlement branches 910.

Munitions, Weapons Systems & Strategic Platforms

Mastercard has no role as a prime contractor, licensed manufacturer, sub-contractor, or component supplier for any lethal platform, munitions system, armoured vehicle, tactical drone, naval vessel, or strategic defence programme.

No public evidence identified of Mastercard supplying ammunition, explosive ordnance, chemical propellants, warhead components, fuzing systems, or munitions precursor materials.

No public evidence identified of Mastercard involvement in Iron Dome, David’s Sling, Arrow missile defence, F-35 programme, Merkava tank, Hermes drone, Spike missile, or any other Israeli or NATO strategic platform.

Export Licensing, Regulatory & Legal History

No public evidence identified of any government decision to grant, deny, suspend, or revoke an export licence specifically for Mastercard products or services in connection with Israeli military or security end-users.

No public evidence identified of any enforcement action against Mastercard under arms embargo regulations, dual-use export controls, or strategic goods licensing frameworks related to Israel.

No public evidence identified of court proceedings, judicial reviews, parliamentary inquiries, or formal legal challenges brought against Mastercard specifically regarding a defence supply relationship with Israel.

Mastercard holds a 10% stake in SHVA (Israel Credit Card Switch), following Bank of Israel approval in 2019. SHVA is a payment infrastructure entity, not a defence entity 11.

Civil Society Scrutiny & Documented Investigations

Bank Hapoalim is listed in the UN OHCHR settlement database (categories e, f, g for banking/financial operations and natural resource use supporting settlements) 910.

Mastercard itself is NOT listed in any iteration of the UN OHCHR database 12.

The UN A/HRC/59/23 report (Albanese Report, July 2025) exists. No public evidence identified of Mastercard being specifically named in sections 28-47 (military, surveillance, construction) based on available search results 13.

PAX “Companies Arming Israel” (June 2024) focuses on arms manufacturers and their financiers. No public evidence identified of Mastercard being named as a financier of Israeli arms companies 14.

Mastercard is not listed as a standalone profile in the Who Profits database. Bank Hapoalim (issuing partner) is listed 7.

Mastercard appears as a payment processor partner to Expedia Group and Booking.com in Who Profits settlement tourism reporting 1516.

The American Friends Service Committee (AFSC) Investigate programme has a dedicated profile for Bank Hapoalim. No public evidence identified of a dedicated Mastercard profile in AFSC Investigate 2.

Mastercard is not a primary named target of the BDS movement’s official boycott campaign. BDS campaigns target arms manufacturers, settlement-linked companies, and financial institutions with direct government bond holdings.

No public evidence identified of Mastercard issuing any public statement, announcing any review, or modifying its Israeli operations in response to the ICJ Advisory Opinion (July 2024) or ICC arrest warrants (November 2024).

Review of Mastercard’s board of directors (2024 proxy) found No public evidence identified of members with defence-board directorships, Israeli defence equity holdings, or FIDF donations 17.

The Mastercard Foundation holds approximately 7.4% of shares. No evidence of Israeli defence holdings in its portfolio has been identified 1819.

End Notes

Footnotes

  1. https://digital.isracard.co.il/globalassets/isracard/financialreports/isracard-accessible-ar-dec-2017.pdf ↩ ↩2 ↩3

  2. https://investigate.afsc.org/company/bank-hapoalim ↩ ↩2 ↩3 ↩4

  3. https://innovationisrael.org.il/en/press_release/mastercard-and-enel-x-selected-to-establish-and-operate-a-fintech-cyber-innovation-lab ↩ ↩2 ↩3

  4. https://www.mastercard.com/news/perspectives/2021/israel-technology-finsec-innovation-lab ↩ ↩2 ↩3

  5. https://www.timesofisrael.com/mastercard-to-buy-israeli-tech-firm-dynamic-yield-from-mcdonalds ↩ ↩2

  6. https://www.dynamicyield.com/blog/mastercard-completes-acquisition-of-dynamic-yield ↩ ↩2

  7. https://www.whoprofits.org/companies/company/3825 ↩ ↩2 ↩3

  8. https://www.hrw.org/report/2018/05/29/bankrolling-abuse/israeli-banks-west-bank-settlements ↩

  9. https://www.ohchr.org/en/hr-bodies/hrc/regular-sessions/session31/database-hrc3136 ↩ ↩2 ↩3

  10. https://www.ohchr.org/en/press-releases/2025/09/un-human-rights-office-updates-database-businesses-involved-israeli ↩ ↩2 ↩3

  11. https://www.boi.org.il/en/communication-and-publications/press-releases/the-governor-of-the-bank-of-israel-granted-mastercard-inc-a-permit-to-hold-10-percent-of-the-shares-of-shva ↩

  12. https://en.wikipedia.org/wiki/List_of_companies_operating_in_West_Bank_settlements ↩

  13. https://www.un.org/unispal/document/a-hrc-59-23-from-economy-of-occupation-to-economy-of-genocide-report-special-rapporteur-francesca-albanese-palestine-2025 ↩

  14. https://www.paxforpeace.nl/publications/companies-arming-israel ↩

  15. https://www.whoprofits.org/companies/company/7282 ↩

  16. https://www.whoprofits.org/companies/company/3768 ↩

  17. https://investor.mastercard.com/corporate-governance/board-of-directors/default.aspx ↩

  18. https://en.wikipedia.org/wiki/Mastercard_Foundation ↩

  19. https://www.stocktitan.net/sec-filings/MA/schedule-13g-a-mastercard-inc-amended-passive-investment-disclosure-356d7b3bd338.html ↩