Mastercard barred from onboarding new customers in India (Ban Lifted)

[Navjot Singh]

EXCLUSIVE U.S. trade official called India's Mastercard ban 'draconian'-emails

A senior U.S. trade official privately criticised India's July decision to ban Mastercard Inc from issuing new cards, calling it a "draconian" move that caused "panic", according to U.S. government emails seen by Reuters.

www.reuters.com

 

[pranav sharma]

why not follow norms and do all the needful asap they have good tech teams why not doing everything fastly internet is also damm too fast now

 

[mikrotik]

Even though MC is barred from onboarding new customer, yet yes bank upgraded my card that was on master card platform.

 

[manu1991]

Won’t you count as an “existing customer”

 

[mikrotik]

I am being moved from one variant to another. When HDFC was barred they were not able to issue addon card or upgrade.

 

[Jonas]

Citi gave me a Mastercard this year for the first time in 8 years.

 

[Sushubh]

Yes Bank is moving me from mastercard to visa after i applied for downgrade.

 

[mikrotik]

Exactly my point, they should have moved me to visa.

 

[minuteman]

“In view of the satisfactory compliance demonstrated by Mastercard Asia / Pacific Pte Ltd with the Reserve Bank of India (RBI) circular
dated April 6, 2018 on Storage of Payment System Data, the restrictions imposed, vide order dated July 14, 2021, on on-boarding of new domestic
customers have been lifted with immediate effect," the RBI said in a statement.

RBI had earlier barred Mastercard from onboarding new domestic customers on its network over non-compliance with local data storage guidelines.

The move made Mastercard the third entity to be barred on these grounds after the RBI had in April told American Express and Diners Club International to not get new domestic customers.

RBI allows Mastercard to onboard new customers after a 11-month hiatus

RBI had earlier barred Mastercard from onboarding new domestic customers on its network over non-compliance with local data storage guidelines

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