Introduction It was a major move when RBI banned Mastercard from issuing new cards due to non-adherence to domestic data storage regulations on the 14th of July, 2021. In India, one out of every three card transactions is processed through the Mastercard Network. Before getting into the details of the ban, let's explore the scenario and structure of card payments in India.
The Ban of MasterCard
The Ban of MasterCard
The Ban of MasterCard
Introduction It was a major move when RBI banned Mastercard from issuing new cards due to non-adherence to domestic data storage regulations on the 14th of July, 2021. In India, one out of every three card transactions is processed through the Mastercard Network. Before getting into the details of the ban, let's explore the scenario and structure of card payments in India.