Hotline: 1800 102 2007
Hotline: 1800 102 2007
Jul, 27 2018

Mastercard aims to extend Indian network with Rs 16.25 bn investment

Mastercard recently opened a technology centre in Vadodara, in addition to new offices in Bengaluru, Gurugram, and a Mastercard innovation lab and operations hub in Pune.

Mastercard aims to extend Indian network with Rs 16.25 bn investment

Global payments network Mastercard plans to invest around Rs 16.25 billion in India by 2019 to boost digital payments in the country.

The company said it was on track to invest Rs 65 billion between 2014 and 2019, and had already invested 75 per cent of the amount. Mastercard recently opened a technology centre in Vadodara, in addition to new offices in Bengaluru, Gurugram, and a Mastercard innovation lab and operations hub in Pune. The company’s India workforce comprises 14 per cent of its global staff strength, and is the largest outside the US. “We strongly support the government’s push towards establishing India as a less-cash society and have continuously invested in this vision,” said Porush Singh, corporate officer, India, and division president, South Asia, Mastercard.

ALSO READ: Crypto-currency is junk, not a good medium of exchange: Mastercard CEO

 

“Around 80-85 per cent of the fees in debit card transactions go to financial institutions and other processors located in India for their services and will stay entirely within the country. Only 15-20 per cent will come to Mastercard as compensation for our network services. It’s between 12 and 15 paise in a Rs 100 transaction. We stand committed to India’s future. We believe the success of the Indian economy is the success of Mastercard,” Singh added.

sharebtn
Comment
user
email
mobile
address
star
Related opportunities
  • Others Food Service
    About Us: Non Alcoholic Beer is one of the fastest growing..
    Locations looking for expansion Haryana
    Establishment year 2019
    Franchising Launch Date 2020
    Investment size Rs. 2lac - 5lac
    Space required 300
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Faridabad Haryana
  • Real Estate Sub
    About Us: Enter the world of premium International Real Estate Company. World..
    Locations looking for expansion Maharashtra
    Establishment year 2016
    Franchising Launch Date 2019
    Investment size Rs. 2lac - 5lac
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Pune Maharashtra
  • Electric Vehicles
    About Us: Gayatri Electric Vehicles are manufacturers and suppliers of a range..
    Locations looking for expansion Uttar pradesh
    Establishment year 2016
    Franchising Launch Date 2019
    Investment size
    Space required 750
    Franchise Outlets -NA-
    Franchise Type -NA-
    Headquater Noida Uttar pradesh
  • Others Health Care & Fitness
    About Body Building India Body Building India is a well-known name..
    Locations looking for expansion New Delhi
    Establishment year 2015
    Franchising Launch Date 2016
    Investment size Rs. 10lac - 20lac
    Space required 250 - Sq.ft
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater New Delhi New Delhi
Insta-Subscribe to
Entrepreneur
Magazine
sme-80x109
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
email
mobile
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities