September 20, 2021 6:25 am
The Reserve Bank of India accuses the companies of breaking local data-storage rules. The bans do not affect existing customers.
July 15, 2021 10:02 am
The RBI order will not impact existing customers of Mastercard, it said. The central bank said Mastercard should advise all card issuing banks and non-banks to conform to these directions.
July 08, 2021 11:02 am
Razorpay, which is backed by Sequoia Capital, GIC, and others, aims to integrate MandateHQ with more than 50 banks in the next 12 months.
December 06, 2020 8:35 pm
“We are investigating the allegations raised in the New York Times and are working with MindGeek’s bank to understand this situation, in addition to the other steps they have already taken,” Mastercard said in a statement.
May 26, 2020 10:25 am
During the pandemic, Indians have started rethinking how to handle the cash, as many fear currency notes might be an easy vehicle in spreading the infectious disease.
March 19, 2019 12:14 pm
In April, the RBI asked payment firms to ensure their data are stored exclusively on local servers, setting a tight six month deadline for compliance. India, China and Russia have some of the strictest data localization rules.
January 23, 2019 11:08 am
The consortium who have joined the initiative include leading multinational companies such as Accenture, Deutsche Bank, EY, Mastercard, Microsoft, Omnicom and Salesforce.
December 16, 2018 9:15 pm
Mastercard has proposed to the Reserve Bank a "certain" date from which it will start deleting data of Indian cardholders from global servers but warned that it would also mean weakening of "safety and security" over a period of time.
October 16, 2018 11:40 am
The companies told the RBI that their fraud detection and other data processing systems were distributed on machines across the world and could not be quickly redesigned to work in India alone.
September 01, 2018 8:33 pm
The alliance gave Google an unprecedented asset for measuring retail spending, part of the search giant’s strategy to fortify its primary business against onslaughts from Amazon.com Inc and others.