Mastercard Incorporated (MA) vs Taiwan Semiconductor Manufacturing Company Limited (TSM)

Mastercard Incorporated is the world’s second-largest payment processor, handling nearly $11 trillion in payment volume during 2025. The company operates in more than 200 countries and territories and processes transactions in over 150 currencies worldwide.

Taiwan Semiconductor Manufacturing Co. (TSMC) is the world’s largest pure-play semiconductor foundry, holding roughly 70% market share in 2025. Founded in 1987 as a joint venture between Philips, the Taiwan government, and private investors, the company listed in Taiwan in 1994 and later launched its US ADR in 1997. TSMC’s vast scale and advanced manufacturing capabilities support strong operating margins, even within the highly competitive foundry industry. The ongoing shift toward the fabless semiconductor model has also provided meaningful growth tailwinds. Its distinguished customer base includes Apple, AMD, and Nvidia, which rely on TSMC’s leading-edge process technologies for their chip designs. The company employs more than 83,000 people.