Most investors fear that because the U.S. is seemingly on the verge of a recession and inflation is high, Mastercard will see less payment volume as consumers spend less money. Gross dollar volume worldwide reached $2.1 trillion for Mastercard during Q2, which represented a 14% jump from the year-ago period, showing that consumers aren't slowing their spending. Even if legislation enabled increased competition, it would be tough for smaller players to provide the same security and widespread offering that Mastercard and Visa do.