India Has Ban Mastercard, How Will That Move Fare?
India has recently announced their decision to ban Mastercard from issuing new debit and credit cards in the country, although this ban will not affect existing customers of Mastercard. The ban is effective 22 July. On July 14, the Reserve Bank of India (RBI) said that the US-based Mastercard had not complied with the data storage rules from 2018 that require foreign card networks to store Indian payments data within the country so the regulators can have “unfettered supervisory access”.
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