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Mastercard may soon put mobility card in its wallet

Wednesday, May 22, 2019, 10:12 AM

Global card payments major Mastercard is all set to join the National Common Mobility Card (NCMC) scheme, just weeks after its biggest competitor Visa said it planned to enter the programme. The 'One Nation One Card' programme of the government is meant to promote digital transactions for payments across bus, metro and other transit modes.
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Mastercard commits Rs 7,000 crore investment in India in next 5 years

Friday, May 10, 2019, 10:37 AM

Global payments giant Mastercard plans to invest $1 billion in its India operations over the next five years, a top company executive said, and about $350 million of that would go into setting up a local payments processing centre in keeping with the Reserve Bank of India's mandate to store all payments data locally.
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Mastercard Concerned India Data Rules May Hinder Fraud Detection

Monday, March 18, 2019, 6:05 PM

MasterCard has raised concern that India's strict data localisation rules could compromise its ability to detect frauds and money laundering. Storing customer data exclusively in India without creating mirror sites overseas "takes away the capability to see the broader world", it stated. The RBI had last year asked payment firms to ensure their data are stored exclusively on local servers.

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