Master card to inject $1 billion into Indian fintech industry

master card to invest 1 billion dollar in india

According to the latest report, the global digital payment network MasterCard is planning to bet big in India. The company revealed to invest USD 1 billion over the next five years on the development of financial technology (Fintech) in the country.

The report stated that MasterCard invested approx. USD 1 billion in India between the years 2014-2019 to develop competencies, focus on acquisition, collaboration and increase the workforce.

The next tranche of investment of USD 1 billion will go towards establishing a domestic transaction processing centre at Pune and other Fintech startups in India.

The Indian tech firm ToneTag, last year received a major investment from MasterCard’s India Investment Fund, which is looking for opportunities to invest in Indian financial technology startups. Recently it invested in Syntizen also, a B2B digital entity-centric product startup.

Ari Sarker, co-president of MasterCard Asia Pacific stated that as India has a progressive payment ecosystem and they are looking forward to the substantial investment plans for the Indian market.

This investment ought to build a lasting and focused strategy in the market for them in the market. This would also enable them to look out for other avenues to expand their local partnerships and collaboration, and at the same time working on the vision of the government of shifting towards a cashless society.

MasterCard has opened offices in Gurgaon and Bangalore, a lab and an operational hub in Pune and a tech centre Vadodara. Indian Fintech has been called insanely addictive by foreign investors

Shawn Du'Mmett

Shawn Du'Mmett

Former IT development and consultant, remote team and collaboration expert, PM, CCO, writer, dreamer, idealist looking to collaborate with global teams on a global teal/turquoise organisation. Shawn's dream is working together openly, to get what writers need and want, and to solve biggest global problems. He is building a collaboration system from the start that everyone can own and define, allowing them to work together, to decide how it works and to their highest ideals.

Related News

Hot Stories

Bitcoin price analysis: BTC returns to $16,500, further selling slowly incoming?
Crypto Analysts Predict Massive Surge for BudBlockz NFTs in 2023
Ethereum Shark and Whale addresses are back, 50% increase imminent
ChainLink price analysis: LINK remains consistent at $6.6
Polkadot price analysis: Bullish uptrend marks DOT price above $5.45

Follow Us

Industry News

CZ grilled on Bloomberg TV, sets the record straight, and shows he is the boss
Bank of Japan records breakthrough in its CBDC trial
Why is the crypto market down today? November 2022 update
We take a look at Crypto firms that went bankrupt in 2022
Did FTX use customer funds to buy properties across the Bahamas?

Add Your Heading Text Here