Mastercard targets 10 mn merchants in India by 2020

Friday, 19 April 2019, 04:08 Hrs
34
cmt right
38
Comment Right
62
cmt right
14
cmt right
Printer Print Email Email
Mastercard targets 10 mn merchants in India by 2020


Global payments major Mastercard on Thursday said it is committed to empowering 10 million merchants across India with digital payments acceptance capabilities by 2020.

Currently, about five million merchants across the country are equipped to accept digital payments, the company said during REACH-Mastercard Acceptance Summit 2019 here.

"Merchants are an important element of India's digital economy," said Rajeev Kumar, Senior Vice President, Market Development, South Asia, Mastercard.

The commitment to increase digital payments acceptance among merchants requires three critical things - education and awareness, development of low cost acceptance solutions, and merchant on-boarding through accelerator programmes. 

Mastercard said it was partnering with fintech companies, payments facilitators, industry bodies, acquirers and regulators for the purpose.

The company is also working in collaboration with various banks to expand the acceptance network, Mastercard said, adding that its partnership with RBL Bank has added over 500,000 merchant acceptance or Point-of-Sale (PoS) locations since demonetisation in November 2016.



Read More News:

Compensation Remains a Top Driver to Attract & Retain Talent in the U.S Reveals Gartner's New Study



Tata, GIC, SSG to buy stake in GMR's airport unit


Source: IANS
SPOTLIGHT
Gadgets
Google Pixel and OnePlus smartphones are catching up and giving stiff competition to Samsu..
Entertainment
"Game of Thrones" author George R.R. Martin doesn't want season eight to be the final chapter of "..
Technology
Facebook-owned messaging app WhatsApp is still developing its previously announced "Vacatio..
Enterprise IT
Taking on streaming giants like Netflix and Hulu, Walt Disney Co. has announced it will laun..
US Indian
Facebook-owned photo messaging app Instagram has launched the beta version of its in-app sh..
Career
Wiley, a global leader in research and education has announced a series of blended learning progr..
Business
The Pentagon has selected Microsoft and Amazon Web Services (AWS, the cloud computing arm ..
Finance
The Reserve Bank of India injected a total liquidity of Rs 2.98 lakh crore in the market in 20..
Startup City
Youth are leading India's start-up ecosystem where the median age of founder-entrepreneurs..