Mastercard To Invest Around $1 Billion In India To Develop New Technologies, Products

Global payments and technology company Mastercard is planning to invest around $1 billion in India over the next five years to develop new technologies and products, reports Business Standard.

According to the report, Mastercard’s vice president (customer delivery) Amitabh Khanna said that the proposed investment would be made over a period of five years in company’s India operations, including at its research and development facility at Pune, Maharashtra and another centre at Vadodara which provides backend multiple payments support, Gujarat.

Khana said that Mastercard, which is a technology driven global entity, was keen to evolve by offering more customer centric and value added services using the digital platform.

He added that the company, under its ‘Start Path’ programme, is also working closely with Indian technology and financial startups by focusing on the innovation and digital payments matrices.

Meanwhile, in a bid to create awareness about the benefits of digital payments, the company has also launched its ‘Team Cashless India’ programme to engage with merchants and consumers across the country.