Mastercard announces US$1bn additional investment in India
Mastercard has announced an investment of US$1bn over the next five years in India, in addition to its earlier investment of US$1bn between 2014-19. This additional investment tranche underscores Mastercard’s long-term commitment to the government’s ‘Make in India’ and ‘Digital India’ vision and reflects the company’s confidence in the market. A significant part of this investment will go towards establishing a full on-soil domestic transactions processing centre in and for India.
Another part of the investment will be directed towards building out a Services Hub which will be focused on developing and delivering other value-added services such as authentication, tokenisation, cyber security and intelligence solutions and data analytics. This is a significant investment in technical capabilities that will allow processing of domestic transactions in India, and also provide the potential for the co-design and co-development of such services and solutions locally, in collaboration with global teams, with additional potential for deployment outside India.
Mastercard has been consistently expanding its presence and investment in India. This incremental investment builds on the previous investment of INR 6,500 crore (US$1bn) between 2014 and 2019, which included two acquisitions, new offices in Bengaluru and Gurugram, a Mastercard Lab and Operations Hub in Pune, and a Technology Centre in Vadodara. The workforce has grown from 29 in 2013 to about 2000 today, representing 14% of Mastercard’s global workforce based in India.