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.
August 28, 2018 10:38 am
The surge in UPI transactions has taken place since 2016 when the interface was set up by an umbrella organization of Indian banks. Mastercard, in contrast, has built up its business in India over three decades.
July 20, 2017 6:11 pm
It may take as long as two years or more for the companies to clear all official scrutiny, including from banking regulators, and for them to pass a security review, as well as meeting other conditions, the sources said.
April 23, 2017 11:34 am
Mastercard unveiled the new biometric card that combines chip technology with fingerprints to conveniently and safely verify the cardholder's identity for in-store purchases.
April 14, 2016 10:00 am
Banga is one of the nine members of the Commission on Enhancing National Cybersecurity appointed by Obama, a White House announcement said.