Question

What was mastercards situation in 2014 and 2019?

Answer 1

Mastercards Situation in 2014 and 2019

Mastercard was originally known as "Interbank" from 1966 to 1969 and "Master Charge" from 1969 to 1979, was created by an alliance of several regional bankcard associations.

Mastercard said its cumulative investment in India for the period of 2014-19 would stand at Rs 6,500 crore or around $1 billion to promote digital transactions in the country. The local Indian investment includes acquisition of new offices in Bengaluru and Gurugram and a Mastercard Innovation Lab and operations hub in Pune. Mastercard will have invested approximately Rs 6,500 crore ($1 billion) between 2014 and 2019 to promote digital transactions in India to fulfil its commitment of a model based on local investment

As per the statement, Mastercard has grown its India workforce from 29 in 2013 to around 2,000 currently, which is 14 percent of the global Mastercard workforce, and the largest outside the United States.

Out of total Rs 6,500 crore, around 75 per cent has been invested so far.

80-85 per cent of the fees in debit card transactions go to financial institutions and other processors located in India for their services and will stay entirely within the Indian economy. Only 15-20 per cent goes to Mastercard as compensation for their network services. It is just between 12 and 15 paise in an INR 100 transaction.

In Indian Context, Mastercard said “We stand absolutely committed to India's future. We firmly believe that the success of the Indian economy is the success of Mastercard."