Mastercard (MA) was saddled with a bill in millions of dollars after Banco Master failed and left it responsible to pay retailers that processed cardholder payments from the Brazilian bank's fintech, Bloomberg reported Monday, citing people familiar with the matter.

Mastercard is now seeking reimbursement of the funds from the liquidator appointed by the central bank, according to the report.

The fintech's cardholders had as much as 5 billion reais ($948 million) in outstanding charges on the cards when the bank collapsed, and Mastercard ultimately settled about half of that amount, the report said, citing the people.

Mastercard didn't immediately reply to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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