The Silicon Review ^Asia

Mastercard the global payment giant is said to start investing in India for a local payment processing centre in order to keep Reserve Bank of India’s mandate store in local data payment. The firm is said to invest about $1 billion, where $350 million is said to be spent on the construction or setting up of a local payments processing centre. We will be seeing this processing centre in the next 18 months and with this said there is also an opportunity for people to work for Mastercard.

The firm said around 1,000 people can get a job in the newly set up branch. This is the first time Mastercard has stepped out of the United States and a rumour has it that it is said to provide services for markets in Southeast Asia. Porush Singh who is the division president for the South Asia of Mastercard said that this isn’t just a basic node that does authorization and processing, it will bring in many other value-added services.  Furthermore, the firm said that these capabilities will keep evolving over time and the firm will look at other markets it can serve.