Keeping pace with the growth of India’s digital payments market, Purchase, New York-based Mastercard announced a fresh investment of $1 billion over the next five years to increase its infrastructure in the country. The company expects to double its existing headcount from 2,000 to 4,000 during that period.
Rajeev Kumar senior vice-president-market development, South Asia for Mastercard said that one-third of the freshly announced investment will go into stepping up “on-soil processing capabilities” at Pune, 75 miles to the east of Mumbai, since India’s central bank mandates that data pertaining to Indians transacting in India must remain in the country. “It will be the first time Mastercard is going to set up an on-soil processing capability outside U.S.A. with end-to-end capability,” Kumar added. Another one-third of the proposed $1 billion investment will be spent on setting up a “Services Hub” to provide value-added services such as identification, tokenization, security and analytics support the official noted.
Quoting market reports, Rajeev Kumar said the total digital payments market in India is likely to touch $1 trillion by 2023. According to him, there are close to 991 million cards in India including 46 million credit cards.
Last updated: December 26th, 2025
