New Delhi: Global card payments major Mastercard on Monday said it will invest $ 1 billion (about ₹7,000 crore) in India in the next five years and plans to make the country a global technology node for its platforms. The most crucial thing about this investment is that Mastercard is building India as a global technology node for its global platforms, he said. "What we mean by that is as a payments network we are a global network. Building the India technology node will mean that company's processing services, authentication services, tokenisation services and all other service layers that ride around the card payment industry will have an India presence. Of the $1 billion investment, over $300 million will be used to develop the India technology node.

Source: Mint May 06, 2019 13:37 UTC