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MasterCard is working closely with the Government – Centre and State – across various programmes, according to Ravinder S Aurora, Group Head, Senior Vice-President, Global Community Relations, MasterCard.
“We work very closely with the government on various programmes. We welcome all competition and seek a level-playing field that fosters innovation and enables users to make informed choices,” he said in a statement.
According to him, a domestic payment system “does not dilute” the relevance of a global payment network like MasterCard. “Multiple networks can exist” given the low penetration of electronics payments in India.
“A domestic payment system does not dilute the relevance of a global payment network like MasterCard. At MasterCard, we have a two-pronged strategy that divides payments into digital and physical components. Key to driving the adoption of electronic payments is to make the payment experience better than cash,” he said.
“Given the low penetration of electronics payments in India, there is scope for multiple networks to exist. We have been bringing to our customers here in India our portfolio of global products and innovation, and will continue to be at the forefront of offering innovative solutions to the market,” he added.
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