MasterCard launches India innovation centre

2nd innovation center in Asia will focus primarily on Indian requirements

MasterCard today announced the launch of its innovation centre to focus on solving "India-specific" problems in the areas of technology and financial enablement. This would be their second innovation centre, after Singapore, in Asia and ninth globally.

"Labs are the future-proofing arm of MasterCard to generate sustainable innovation. The labs are like a sandbox within the organisation to try out new technology that is consumer-oriented and can be built and deployed to market. We are not looking at this (India) as a financial inclusion market but rather at driving enablement here," said Tobias Puehse, Vice President, Mastercard Labs, Asia Pacific. MasterCard