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Friday, March 29, 2024
TopicMastercard

Topic: Mastercard

From mom-&-pop stores to luxury hotels – Indian economy biggest winner in World Cup, finds survey

Study by Mastercard Economics Institute said business boomed most on 3 match days: India vs Pakistan, India vs England and final match between India and Australia.

Mastercard launches global project to recycle credit & debit cards, reduce waste in landfills

For the pilot project set to run for six months, Mastercard has partnered with British lender HSBC Holdings Plc in eight branches in Britain.

RBI lifts curbs on Mastercard citing company’s compliance with data-storage rules

The decision announced Thursday, which comes almost a year after the curbs were imposed, highlights the authority’s focus on digital banking.

Visa, Mastercard suspend operations in Russia over Ukraine crisis

Responding to the statement issued by the two companies, Russian state-owned banking company said the suspension will not affect use of cards issued by Russia's Sberbank within the country.

RBI ban on Mastercard onboarding new customers revives debate on data localisation mandates

Access over data does not depend on local storage but on the ability of nations to access data through legal instruments and cooperation. But the ban may impact consumers and investor sentiments.

What is data localisation & why Mastercard, Amex, Diners Club can’t add more customers in India

Foreign card payment network companies that fail to meet data localisation norms cannot register new customers or issue new cards in India. ThePrint explains.

India’s action against Mastercard shows why the world urgently needs a digital trade deal

Globally, e-commerce & payment firms are in the crosshairs of regulatory action. As governments insist on local storage, burden of compliance falls disproportionately on international firms.

RBI bars Mastercard from acquiring new clients in India from 22 July

The central bank made the decision after Mastercard failed to comply with data storage norms. RBI also noted the supervisory action will not impact existing customers.

Mastercard concerned India’s strict data rules may hinder fraud detection

The RBI had asked payment firms to ensure their data is stored exclusively on local servers, making it one of the few countries with the strictest data localisation rules.

Customers suffer as banks miss deadline to switch to safer chip-based debit & credit cards

The RBI had set 31 December 2018, as the deadline for all banks to replace magnetic strip debit & credit cards with chip-based ones.

On Camera

Congress attacks chief economic advisor over statement on unemployment, asks BJP govt to ‘vacate seat’

While releasing 'India Employment Report 2024', V Anantha Nageswaran said govt can't solve 'all social, economic challenges'. Congress leader Kharge says CEA protecting 'dear leader'.

Amid plans to lift AFSPA, Army starts joint training with Jammu & Kashmir Police

In an interview with Gulistan News this week, Union Home Minister Amit Shah said the government would leave law and order to J&K Police and slowly withdraw troops.

For BJP, Kejriwal is an idea whose time has come to be destroyed

The ‘idea’ Kejriwal's politics grew around was a no-holds-barred fight against corruption. That is the reason Modi govt has now tarred him and his entire party with the same paint.