Global card payment company Mastercard will invest around $1 billion for its India operations in next 5 years. Around one-third of this amount, i.e $350 mn will go towards setting up a payment processing center in keeping with the RBI’s mandate to store all payments data locally.
The processing center will be operational in the next 18 months and create employment for around 1000 people. In the last five years, the company has invested 1 billion dollars in the Indian market. (Source)
