The 30-second commercial, which will air from 9 August, is set in a theme park. It aims to capture the feeling of the summer holidays, when more people visit leisure parks.
The spot, called "rollercoaster", illustrates the various things that can be paid for by using a Mastercard in a theme park. These include the entrance fee, novelty sunglasses and souvenir T-shirts.
However, it claims the priceless element of the day out is witnessing your petrified father "screaming like your little sister" while on a rollercoaster.
The ad uses the familiar endline: "Some things money can't buy. For everything else there's Mastercard." The Mastercard logo sweeps on to the screen as if on a rollercoaster while a voiceover says: "Accepted for all kinds of amusements."
Aimed at 20- to 45-year-old consumers, the ad will run across terrestrial and satellite stations including ITV, five, Channel 4 and E4.
The copywriter Martyn Smith and the art director Mark Hurst adapted the ad from a US spot. It was directed by Malcolm Venville at Therapy Films and Universal McCann handled the media planning and buying.
The "priceless" advertising theme has been used by McCann and Mastercard since 1999 and this commercial is the forth execution in the series to run this year.
It follows the Euro 2004 spot in June, which showed a number of football-themed purchases that could be made with the credit card.