RBI bars Mastercard from onboarding new customers in India from July 22

The ban is only on adding new domestic customers to its network; no impact on its existing customers

The Reserve Bank of India (RBI) on Wednesday barred global card player Mastercard Asia/Pacific Pte Ltd from onboarding new domestic customers on its network from July 22 over non-compliance with local data storage guidelines. That makes 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. 

The entity (Mastercard) has been found to be non-compliant with the directions on storage of payment system data, notwithstanding the lapse of considerable time and adequate opportunities given, a statement issued by the RBI said on