RBI bars Mastercard from adding customers in India from July 22

NEW DELHI:  In yet another crackdown against global credit card and payments companies for flouting data localisation norms, the Reserve of India (RBI) on Wednesday barred Mastercard from adding new domestic credit card customers from July 22, 2021. According to the regulator, the restriction was imposed as the company failed to comply with its directions on storage of payment system data. The order, however, will not impact existing customers.

“Notwithstanding the lapse of considerable time and adequate opportunities being given, the entity has been found to be non-compliant with the directions on storage of payment system data. Mastercard shall advise all card issuing banks and non-banks to conform to these directions,” the RBI said in a statement.
Mastercard is one of the top three card issuers in India, along with Visa and Rupay.