India Bans Mastercard From Adding New Customers Due To Data Storage Rules
The Reserve Bank of India (RBI) found the global payments company to be in violation of its local rules, which were unveiled in 2018 and require payment data to be stored on servers exclusively in India. This way, regulators would have “unfettered supervisory access” to transaction details. Beginning July 22, Mastercard will be indefinitely banned from issuing new debit, credit or prepaid cards to customers in the South Asian market....