Mastercard eyes investing $1 billion in India in next 5 years
Mastercard, the global card payments major, will be investing $1 billion in India in the next five years. It is planning to make the country a global technology node for its platforms.
In the last five years, the company has already invested $1 billion in the Indian market.
Ari Sarker, Co-President, Asia Pacific, Mastercard, said, "Over the last five years, we invested about $1 billion in India. Given our increasing confidence in the Indian economy where it is likely to be over the coming decade, we are stepping up on our investment commitment in India. We are committing another $1 billion into India (for next five years)."
With this investment, Mastercard will increase its speed-to-market capabilities and value-added services.
"What we mean by that is as a payments network we are a global network. All our transactions traverse towards a global network where the technology centres are in the US. And now India is going to become the first country outside of the United States which will have a global technology node," Sarker stated.
He further added, "We are also going to expand our existing capabilities and do more. We are also looking at partnerships, investment opportunities in a more significant way for India. We also think India's fintech growth is extremely exciting."