Global card network MasterCard has announced that it isopening its largest technology center outside of the United States in Pune,India. The new technology center will allow greater collaboration betweenengineers and developers based in India and MasterCard’s global innovationteams. Furthermore, according to MasterCard the Indian engineers will work oninnovations around mobile and contactless payments and work on Government-ledinitiatives to expand financial inclusion in India.
Commenting on the prospects of launching the new technologycenter in India, Rob Reeg, president, MasterCard Operations and Technology, “Indiais renowned for its technology leadership, focus on innovation andentrepreneurial spirit. The Tech Hub gives MasterCard the opportunity to bringin talented technologists and a wealth of creative new ideas that will helpshape the future of payments.”
With 2014 acquisitions of Vadodara-based C-SAM andPune-based ECS, MasterCard has demonstrated its intentions to expand in Indiaand with the country set to experience a massive rise in electronic payment usein the years to come, MasterCard is well positioned to succeed moving forward.
Overview by Tristan Hugo-Webb, Associate Director, Global Payments for Mercator Advisory Group