Planned: Technology hub with global link

Global payment company, Mastercard, plans to invest additional US$1 billion in the Indian market, nearly a third of which will be for a payments processing node that would be linked to its global network.

The latest announced investmentt goes beyond its commiment to the Reserve Bank of India (RBI) on storing data in the country, reported Times of India newservice on 7 May 2019.

This is in addition to the US$1 billion Mastercard has already invested in India in the last five years, a large part of which was for provding technology and bank office support to its global operations.

Mastercard co-president for Asia Pacific, Ari Sarkar, expects to invest US$300-$350 million in a technology hub.

“Creation of this global node in India will give us complete flexibility to bring any innovation to India,” Sarkar told Times of India.

“Given that it connects to our global network, we will then evaluate how we load balacne and move our global traffic so that we can use the India node for other markets as well,” he said.

Mastercard has technology centres in Baroda, Pune and Gurgaon. It employs 2,000 people in India, representing 14% of the global workforce. fiinews.com