Mastercard

Low-cost, easy to use solution to make merchant onboarding quick and completely paperless

Multifaceted distribution strategy to ensure last mile reach

Part of Mastercard’s ambitious goal of bringing 10 Mn merchants into the fold of digital payments by 2020

The process is expected to be completed by the end of this year

The move is in compliance with RBI’s data localisation norms

It has also been storing data of Indian users in local servers since October 2018

$350 Mn will go in building the company’s first data processing centre outside the US

A services hub will also be set up focussed on developing & delivering other value-added services

Mastercard has already invested $1 Bn in the last five years

Visa is in talks with banks to join the National Common Mobility Card scheme

Mastercard is also speculated to have started working on the NCMC scheme

The NCMC card is issuable as a prepaid, debit, or credit RuPay card from partnered banks

RBI had invited suggestions on the authorisation of new retail payment networks on Jan 21

Visa said that the criteria for licensing should be based on principles

Mastercard said this may bring new companies in the sector with new innovations

In a Facebook post, Jaitley mentioned about the growth of RuPay and UPI

Jaitley noted that RuPay's total transactions had increased to $1.15 Bn as of September

This statement comes after Mastercard told US government that Modi is using nationalism to promote RuPay

According to World Bank’s Doing Business Report (DBR, 2019), India ranks 77th in ease of doing business across the globe

India-Japan Prime Ministers launched Startup Hub between India and Japan, India-Japan Business Platform among other initiatives

Google India had remitted a total of $2.18 Bn (INR 16,119.6 Cr) towards expense on “purchase of advertising space”

More than half of India’s 1 Bn debit and credit cards now go through the RuPay payment system

Mastercard had complained about Prime minister Narendra Modi promoting Rupay using nationalism

The company said New Delhi’s “protectionist policies” are hurting foreign payment companies

The US-companies have also written a letter to the Finance Minister, expressing their objection over the presence of iSPIRT members during the meeting

All payments companies that are operating in India need to store their data locally, latest by October 15

Around 16 out of 80 companies have not complied with the RBI directive yet

Although the October 15 data localisation deadline is nearing, payment companies are not operationally ready to comply with the order

At a scheduled meeting with the finance minister, the executives of these companies are looking to understand the government's stance

The companies are trying a last-minute push with the finance minister since they couldn't convince the RBI to push back the deadline

Mastercard partners with the iconic cricketer Mahendra Singh Dhoni as an ambassador

Walmart is reportedly bringing four of its executives to the team of Indian ecommerce unicorn Flipkart

Zomato has appointed G. T. Thomas Phillippe as its General Counsel

e-Rythu app connects small-scale farmers looking to sell their produce with the right buyers

It aims to digitise marketplaces, payments, and workflows in agriculture in the state

It will be first implemented by Tamil Nadu-based LEAF and four farmer producer organisations in Vizag and Srikakulam