Hotline: 1800 102 2007
X
Search Business Opportunities
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.

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.

Comment
Related opportunities
  • Mobile & Communication/Internet Connections
    About Us: HOCO. TECHNOLOGY (HK) CO., LTD. has established the brand..
    Locations looking for expansion Tamil nadu
    Establishment year 2018
    Franchising Launch Date 2018
    Investment size Rs. 10lac - 20lac
    Space required 100
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Chennai Tamil nadu
  • Tea and Coffee Chain
    Stark Bistro is an effervescent & lively cafe with a..
    Locations looking for expansion Orissa
    Establishment year 2016
    Franchising Launch Date 2016
    Investment size Rs. 5lac - 10lac
    Space required 100
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Bhubaneswar Orissa
  • Sports & Gaming
    About Us    Fitokids was established in the year 2016 as a..
    Locations looking for expansion Delhi
    Establishment year 2016
    Franchising Launch Date 2017
    Investment size Rs. 5lac - 10lac
    Space required 1000
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • Bakery & Confectionary
    About Us:  Established in 2006, Oya kekars is hugely popular pastry..
    Locations looking for expansion Maharashtra
    Establishment year 2006
    Franchising Launch Date 2018
    Investment size Rs. 20lac - 30lac
    Space required 400
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities