18 Dec Mastercard to Delete Data of Indian Cardholders
Mastercard told India’s Reserve Bank this week that that it will be deleting the data of its Indian customers from its global servers, but warned that it may result to the weakening of safety and security overtime.
The financial firm also told PTI, Porush Singh, India and Division President, South Asia, that nowhere else in its operation in 200 countries has it has been asked to delete data from global servers.
The move was in response to the new regulation issued by the Reserve Bank of India (RBI) in April which required payments companies to store all transaction information of Indians within the country. Mastercard also said that all new transaction data is now being stored at its Pune center as of October 6.
Source: Financial Express