Mastercard to invest Rupees 7000 Crore in India

MasterCard has committed to invest 1 billion dollar in India over the next five years. The payments major will use nearly 300 million dollar to set up a global technology node, its first outside the US, while it will deploy the rest to ramp up existing services. The move will mean that MasterCards authentication, tokenisation and processing services will have an India presence. Besides, it will allow the company to meet the RBIs diktat on data localisation for payment services. The Harrison, New York-headquartered firm has already invested 1 billion dollar in India over the last five years.

Ari Sarker,co-president, AsiaPacific,Mastercard. Said as follows,

The most crucial thing about this investment is that MasterCard is building India as a global technology node for its global platforms, he said.

This investment will help foster innovation and increase MasterCards speed to market capabilities and valueadded services.

What we mean by that is as a payments network we are a global network. All our transactions traverse towards a global network where the technology centres are in the US. And now India is going to become the first country outside of the US which will have a global technology node, he said.

Building the India technology node will mean that the companys processing services, authentication services, tokenisation services, and all other service layers that ride around the card payment industry will have an India presence.