Mastercard Asia / Pacific Pte. Ltd

RBI has lifted the restriction on Mastercard Asia / Pacific Pte. Ltd. that barred onboarding new domestic customers onto its card network. The lift is effective immediately.

Mastercard Asia / Pacific Pte. Ltd. may resume onboarding new domestic customers onto its card network immediately. The restriction no longer applies to debit, credit, or prepaid customers in India, and there is no continuing adverse operational constraint from this order.

• RBI circular dated April 6, 2018 on Storage of Payment System Data

RBI has restricted Mastercard Asia / Pacific Pte. Ltd. from onboarding new domestic customers onto its card network from July 22, 2021. The action follows non-compliance with RBI's data storage directions.

Mastercard cannot add new domestic card customers in India from the stated effective date, though existing customers may continue using the network. Mastercard must ensure compliance with RBI's data storage requirements and related reporting/audit obligations; card-issuing banks and non-banks are also directed to conform to these requirements.

• Section 17 of the Payment and Settlement Systems Act, 2007 (PSS Act)