Page 6 - Mastercard

Mastercard submits new audit to India after ban over data handling

The Reserve Bank of India (RBI) on July 14 sent panic-waves through Indian banking partners by announcing a ban, effective from July 22, to prevent the U.S. giant from issuing new cards.

Mastercard profit beats estimates on consumer spending, travel boost

Mastercard saw improved strength in travel between the Unites States and Latin America, as well as an increase in travel within Europe, Miebach said on a conference call.

Top headlines: Govt may get 30% more from asset sale, Q1 GDP growth at 22%

Business Standard brings you the top headlines on Friday

RBI's move to ban Mastercard from issuing new cards may hit 5 private banks

Bajaj Finserv and SBI Cards also impacted

Mastercard ban: These 7 lenders are going to be hit hard by RBI's decision

Among credit card issuers including co-branded partners, RBL Bank, YES Bank and Bajaj Finserv lending will be most impacted, says Nomura

RBL Bank enters into agreement with Visa for issuing credit cards

The bank is expecting to start issuing credit cards on the Visa payment network post the technology integration, which is expected to take 8 to 10 weeks

Mastercard ban to hit Citi and RBL's customer acquisition the most

In India, there were over 900 million debit cards as on May 31, 2021, of which over 400 million were issued by Mastercard

RBI bars Mastercard from onboarding new customers in India from July 22

The ban is only on adding new domestic customers to its network; no impact on its existing customers

Top headlines: RBI setback to Mastercard; Infosys Q1 net profit rises 23%

Here are the top stories of the day

RBI restricts Mastercard from onboarding new domestic customers

The company has been found to be non-compliant with the directions on Storage of Payment System Data. However, these curbs will not impact existing customers

Razorpay, Mastercard launch MandateHQ for recurring payments

To help banks comply with RBI directive and provide convenience to banks' customers, Razorpay and Mastercard have partnered to launch MandateHQ, new recurring payment interface, after RBI's new rules

Richard Verma appointed as Mastercard's Head of Global Public Policy

Former US Ambassador to India Richard Verma has been appointed as General Counsel and Head of Global Public Policy of Mastercard, according to an announcement by the financial services corporation

Top headlines: GST collections at record high; chaos mars polling in Bengal

Business Standard brings you top news of the evening

Mastercard to invest about Rs 733 crore in Airtel Africa's mobile money biz

Sources privy to the development said Mastercard would get about 3.75 per cent stake in the company

Mastercard battles return of $19 billion UK class action on 'overcharging'

A London court will this week re-consider allowing an historic $19 billion class action against Mastercard to proceed, which could entitle adults in Britain to about 300 pounds each if successful

Mastercard, Razorpay partner to drive digital payments for small businesses

The tie-up aims to drive digital payments acceptance by small businesses and start-ups in the country

Mastercard beats Wall Street profit estimates as customers spend more

Excluding items, Mastercard reported net income of $1.6 billion for the quarter ended Dec. 31, or $1.64 per share, compared with $2 billion a year earlier, or $1.96 a share

Pine Labs launches AllTap app to turn phone into payment acceptance device

With AllTap, small merchants who aren't ready to invest in a traditional point-of-sale terminal can immediately start accepting digital payments on their NFC-enabled smartphone

Best of BS Opinion: De-fanging FAANG, Modi's index of alarm, and more

Here's a selection of Business Standard opinion pieces for the day

UK Supreme Court enables $18.5 billion class action against Mastercard

The judgment dismisses an appeal by Mastercard