India bans Mastercard from issuing new cards

By Agence France-Presse

Jul 16, 2021 12:31 am

JAIPUR: India's central bank on Wednesday banned global payments giant Mastercard from adding new customers starting next week in an escalation of a long-standing dispute on local data storage rules.

The Reserve Bank of India (RBI) found Mastercard to be in violation of its April 2018 circular that directed all payments data be stored exclusively in India, allowing the regulator 'unfettered supervisory access' to transaction details.

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