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Good News Mastercard can again onboard new customers in India

Bapun Raz

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“In view of the satisfactory compliance demonstrated by Mastercard Asia / Pacific Pte Ltd with the Reserve Bank of India (RBI) circular
dated April 6, 2018 on Storage of Payment System Data, the restrictions imposed, vide order dated July 14, 2021, on on-boarding of new domestic customers have been lifted with immediate effect," the RBI said in a statement.

RBI had earlier barred Mastercard from onboarding new domestic customers on its network over non-compliance with local data storage guidelines.


Previous discussion: RBI imposed restrictions on Mastercard
 

Esmail

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That's good, Visa was dominating the space in the absence of MasterCard, now it will get balanced. Though Rupay will give tough competition to both.
 
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