BusinessShaik Abdul Sammadeditor@indiaherald.comhttps://www.indiaherald.com/ImageStore/images/business/technology_videos/rbis-ban-on-mastercard-could-benefit-indian-payment-systems17766ae8-33aa-4acd-8fd2-0179efc169ab-415x250-IndiaHerald.jpghttps://www.indiaherald.com/ImageStore/images/business/technology_videos/rbis-ban-on-mastercard-could-benefit-indian-payment-systems17766ae8-33aa-4acd-8fd2-0179efc169ab-415x250-IndiaHerald.jpgIndia’s ban on Mastercard from issuing new credit and debit cards in the country could hugely benefit the government’s own payment systems. Citing data storage rules violation the Reserve Bank of India on July 14, has put a ban on United States-based Mastercard. The data storage rules states that from 2018 foreign card networks are required to store Indian payments data within the Indain territory. mastercard ban Rupay India RBI{#}Reserve Bank of India;November;Narendra Modi;INTERNATIONAL;Indian;Digital Wallet Platform;India;Vaishno Devi;Dargah SharifRBI’s ban on Mastercard could benefit Indian payment systemsRBI’s ban on Mastercard could benefit Indian payment systemsmastercard ban Rupay India RBI{#}Reserve Bank of India;November;Narendra Modi;INTERNATIONAL;Indian;Digital Wallet Platform;India;Vaishno Devi;Dargah SharifSat, 17 Jul 2021 19:17:00 GMTIndia’s ban on Mastercard from issuing new credit and debit cards in the country could hugely benefit the government’s own payment systems. Citing data storage rules violation the reserve bank of india on July 14, has put a ban on United States-based Mastercard. The data storage rules states that from 2018 foreign card networks are required to store indian payments data within the Indain territory.

Mostly the banks in india provide four types of credit and debit cards: Rupay, Mastercard, Visa and Maestro (also a part of the Mastercard enterprise). Of these, only RuPay is Indian. With MasterCard out of the picture now, experts believe that RuPay could to see exceptional gains. This is because of the narendra modi led Central government’s tough stance against foreign cards in recent years.

Mastercard is the world’s second-largest payments processor. The ban on Mastercard comes after RBI in May, barred Diners Club international and American Express from issuing new cards due to same violations. Experts also warn that even Visa will see a similar ban like Mastercard,  American Express and  Diners Club international are facing.

Customers of the American Express and Diner club international networks had flocked to RuPay, owned National Payments Corporation of india which represents RBI. Rupay is already a dominant player in the market with a share of around 60% as of november 2020.

Experts believe that a similar trend will follow after Mastercard’s ban. Mastercard currently holds nearly 33% of all Indain card payments. The other beneficiary of the ban will be the Unified Payment Interface, which is partly state-owned wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW'>digital payment system.



ఎన్టీఆర్, కొరటాల సినిమాలో మరో నటుడు..?

బాబోయ్... విస్కీ బాటిల్ కోటి రూపాయలు

ఒక్క గంటలో 2 కిలోల బరువు తగ్గిన మహిళ.. అదెలా సాధ్యమైందంటే..?

ఎల్ఐసి అదిరిపోయే పాలసీ.. 40 రూపాయలతో 39 లక్షలు?

నేను ఆప్షన్ గా ఉన్న అంటూ హింట్ ఇస్తున్న డీకే..?

రామ్ డబుల్ ధమాకా.. ఆ సినిమాలో ఒక్కడు కాదు ఇద్దరట..!

జగన్ కు మరో పేరు పెట్టిన లోకేష్...?

బాలయ్య, నాగ్, వెంకీ ల మధ్య పోటీ.. గెలిచిందెవరు.. ?

విజయ్ సేతుపతి కన్నీటి కష్టాలు మీకు తెలుసా..!?



Source: India Herald - Shaik Abdul Sammad]]>