Top Story


Home >> Media – Print >> Article

MasterCard to tap rural sector in India

Font Size   16
MasterCard to tap rural sector in India

Mastercard, the plastic money leader in Asia and the Pacific, plans to tap the rural sector in a big way by launching electronic cards for farmers, besides giving a big push to debit cards as the company sees India, along with China, as 'significant' market for card business.

Mastercard Asia-Pacific region president Andre Sekulic said Mastercard has grown at a record 38 per cent in 2000 in the region, proposed to focus in the unbanked sector in India after the successful launch of electronics cards in the Philippines and Malaysia this year.

Elaborating on the India plan, Mastercard's general manager for South and Southeast Asia, Sonny Sannon said electronic cards for farmers would be launched soon in collaboration with public sector banks, which have network in rural India.

According to Mastercard, 8.5 per cent of the transactions are still conducted by cash in unbanked sector, electronics cards provided the answer for secured payment system in the region.

With the successful launch of debit cards in 1997, Mastercard has crossed the 1-billion mark in card transactions this year and almost 12,000 transactions were carried out in the region every hour with the help of electronic cards.


Vijay Mansukhani, speaks to exchange4media about the resurgence of Onida, the scope of growth of consumer electronics market in India and the reasons why Indian consumer electronics brands don’t compete on a global scale

Projjol Banerjea opens up about hiring Anne Macdonald and GroupM's Rob Norman, and the brand's new identity

Meera Iyer tells exchange4media that in FY 2016/17, bigbasket clocked a revenue of Rs 1,400 crore. The online supermarket currently stands at 70,000 orders a day, with operations in 25 cities.

CMO, Kashyap Vadapalli on the start-up’s marketing play, why it has decided to stay away from IPL and response to its furniture rental apps

The campaign, featuring brand ambassador Farhan Akhtar, exhorts consumers to showcase their achievements through the walls of their homes.

We list a few important stories that you may have missed in the week gone by

The campaign takes the narrative forward to persuade prospective investors to invest in mutual funds