The MasterCard IPS group is a sweat shop full of incompetent management
Pros
There is MCU, MasterCard University, where you can learn about processing and the payments industry. There are some competent and committed people with whom to work. The facilities are OK, with the big gym and decent dining hall.
Cons
The benefits are not that great, especially the medican and dental. There is a group of folks at MasterCard who have been there for 10 years or more. That is an elitist club. They do very little work and put the onus of all the real work onto the new employees. These employees don't get the pension (like the ol' timers still get), don't get the recognition, and get very little thanks and praise. In the IPS group, especially, much of the real work is done by outsourcing it to onshore and offshore contractors.