Mastercard has operated its card payments network in India for over four decades, working with issuing banks and merchants. Pune is home to its largest single city technology workforce in the world.
Ownership and structure
Mastercard operates its India payments network and technology hubs through its own wholly controlled operations, with offices in Pune, Gurugram, Mumbai, Hyderabad, Bengaluru and Vadodara.
What India does for Mastercard
India is a card payments market for Mastercard and the site of its largest single city workforce, centred on its Pune tech hub.
Investment and deals
Mastercard committed US$1 billion to India over five years in May 2019, including over US$300 million for a technology hub serving its global platforms.
Mastercard's India business
Mastercard opened its first India Tech Hub in Pune in 2014. In October 2024 it opened a new Pune Tech Hub with room for more than 6,000 technologists.
The RBI barred Mastercard from issuing new cards to Indian customers in July 2021 over data localisation rules and lifted the restriction in June 2022. It has offices in Gurugram, Mumbai, Hyderabad, Bengaluru and Vadodara as well as Pune.
Key moves in India
- 2014: Mastercard established its first India Tech Hub in Pune.
- 2019: Mastercard committed US$1 billion to India over five years.
- 2021: The Reserve Bank of India barred Mastercard from issuing new cards in July over data localisation rules.
- 2022: The Reserve Bank of India lifted the restriction in June.
- 2024: Mastercard opened a new Pune Tech Hub in Yerwada in October with room for more than 6,000 technologists.
Where it operates
Mastercard has a presence in Pune, Gurugram, Mumbai, Hyderabad, Bengaluru and Vadodara.
At a glance
- Home country: United States
- Global headquarters: Purchase, New York
- Sector: Banking & Financial Services
- Business: Payments
- Role of India: Sales market, R&D and engineering hub
- India offices: Pune, Gurugram, Mumbai, Hyderabad, Bengaluru, Vadodara
- India headcount: Not available
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