Stock prices of both Visa and Mastercard have gained roughly 50 per cent in the past year.
The market opportunity in India for installment-based payments on consumer goods will hit $16.9 billion in 2021 and is expected to jump to $52.5 billion in 2025
Investment to feed development of new technology, products
Mastercard has entered into a partnership with Federal Bank to offer identity check to the bank's cardholders, it said in an announcement
However, says the card payments major, restricting data flows in digital transactions will affect the quality of fraud detection and assessment
As businesses go digital, mitigating cybersecurity issues remains prime focus for the company
A new mobile-first authentication solution rolled out by the payments major allows such transactions only for deals below Rs 2,000
Process of removing consumer information may be completed by the end of this year
Betting big on the growth of Indian digital payments market, Mastercard recently announced an investment of $1 billion over the next five years on increasing infrastructure
This investment will help foster innovation and increase Mastercard's speed-to-market capabilities and value-added services
Demonetisation was a game changer. It created an immediate reason for people to experience the ease, safety and security of digital payments, says Mastercard's Rajamannar
Focusing on identity authentication as well as distribution and technology partnerships
Mehra will take over Hund-Mejean's position as CFO on April 1, and will report to Ajay Banga, the company's chief executive officer.
Credit card payments have been a target of EU antitrust enforcement for nearly two decades
'We have started an India investment fund, not only to buy more companies but also to do partnerships. We have done a few and some have been successful'
Mastercard has proposed to the RBI that Indian data would be stored locally and nowhere else
The Indian central bank in April said companies such as Mastercard, Visa and American Express will from October need to store their payments data "only in India"
The value of the cards can be topped with cash to spend at any of the three million merchant outlets that accept Mastercard
The company's India workforce comprises 14 per cent of its global staff strength, and is the largest outside the US
Mastercard looks at all spectrums for growth in India