Credit Cards - RBI Imposes Restrictions On Mastercard Asia Pacific: ICICI Securities
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ICICI Securities Report
The Reserve Bank of India imposed restrictions on Mastercard Asia Pacific Pte. Ltd. from onboarding new domestic customers (debit, credit or prepaid) to its card network from July 22, 2021.
The order will not impact existing customers of Mastercard.
We have outlined three data sets in this report:
1. recent regulatory restrictions on various players in the credit card space. Such restrictions even on a temporary basis will help improve market share for respective unaffected incumbents.
2. the payment network tie-ups of various credit card issuing companies. Issuers with exclusive tie-up with Mastercard will have to create tie-ups with other payment networks now in order to issue new cards.
3. the list of important co-branded credit cards split between the corresponding issuer, branding partner and payment network.
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