BANGLORE: The government has its effects on the each revolution happening in the country in the recent times. With the Jan Dhan Yojana, the government’s financial inclusion programme there is a rise in the number of cards issued RuPay, which is a card issuer that is backed by the Government. But this is not a pleasant scenario for the U.S. based card companies MasterCard and Visa since they are facing troubles in Indian market. Thus the companies have approached the government and RBI in order to consider their service which is cheaper than RuPay, reports Joel Robello of Economic Times.

As Jan Dhan Yojana is proclaimed as the world’s biggest financial inclusion programme, the big companies also would like to tie up with the programme. The pricing of these companies are said to be 30 pct cheaper than of RuPay but with the mandate appears in favor of RuPay since it is backed by the Government.

Co-president of Asia Pacific, MasterCard, Ari Sarker stated that "The market is not open and competitive in its entirety, only in parts," Sarker said in an interview. "It is not that nobody was interested in this space, and therefore, by default, the government was left with no choice (but to give NPCI the mandate to issue new cards). Banks are aware but there is an invisible mandate that we are not able to play in that space,"

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