visa: Ban on Mastercard may see a huge chunk of new business going to Visa

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Most banks have both Mastercard and Visa and in some cases RuPay as their payment platform for cards.

Synopsis

While homegrown platforms are expected to gain modestly, Visa’s superior reward offerings to merchants and the government’s zero Merchant Discount Rate (MDR) rule on National Payments Corporation of India (NPCI) is likely to put Visa in an advantageous position.

Mumbai: The Reserve Bank of India’s (RBI) ban on Mastercard is likely to create a near monopoly in India’s credit card market, with the US-based card network Visa likely cornering a significant chunk of the new business that earlier went to its global rival.

While homegrown platforms are expected to gain modestly, Visa’s superior reward offerings to merchants and the government’s zero Merchant Discount Rate (MDR) rule on National Payments

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