Amex, Visa and Mastercard are the most popular payment networks in the world that provide for the common exchange among the different banks and retail financial institutions. India has also started a similar payment gateway called the “RuPay”. RuPay Card is an Indian version of credit/debit card. It is very similar to international cards such as Visa/Master. National Payments Corporation of India (NPCI) initiated the launch of RuPay card in India. It was done with the intention of integration of payment systems in the country. Though Visa/Amex/Mastercard is well internationally established, NPCI is trying to make Rupay enabled for international payments. But for now Rupay can be used for international payments provided only if you have Global Rupay card with Discover, Diners Club logo printed on the back of the card and the payment can be processed on gateways with supports Discover and Diner’s Club.
All cards that start with 4 are all Visa Cards; all that start with 5 is a Mastercard and those that start with 3 are American Express. The Rupay Cards start with 6.
Apart from its many global service locations, Mastercard has its global technology centres in India (Pune) also. Mastercards global payments processing network connects consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. Mastercard products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances. Mr Ajay Banga, is the President and Chief Executive Officer of Mastercard.
Mastercard, on 23 January 2020, to accelerate innovation in Digital and Cyber Security, AI and IoT, inaugurated its new facility at Vancouver, Canada. The centre will not only expand business but will also assist in creating and maintaining a total of 380 jobs in the new initiatives, in addition to the present spread. The new space in Vancouver will become one of six global technology centres for Mastercard and will develop cyber solutions for the payments ecosystem globally. The centre will complement Mastercard’s Canadian headquarters in Toronto and its global technology centres in New York , St. Louis , India (Pune), Dublin and Sydney.
This expansion is the latest in a series of investments by Mastercard in Canada, reinforcing the company’s commitment to supporting Canadian innovation and technology talent. In 2017, Mastercard acquired Vancouver -based NuData Security and in 2019, Toronto -based Ethoca, bringing together best-in-class solutions across biometrics and fraud resolution to drive greater security in the digital space.
“Expanding our presence in Canada allows us to tap into the country’s talented workforce and thriving technology ecosystem, to help bring innovations to market even faster,” said Banga.