New Delhi : The payments giant Mastercard has begun to save Indian consumer data from US-server to Indian server following the data localisation norms mentioned by RBI. For this purpose, the transaction data of Indian consumers will be removed from their US based server and the same will be saved on India-based server from May onwards. This process will be completed by the end of this year.It is noteworthy that saving of data at servers in India has been started from October 2018. According to co-president of Mastercard(Asia-Pacific), Ari Sarker,”To move the base of consumer data is a complex task. It just doesn’t involve putting extra servers but also involves de-duplication(removing data from one server and shifting and saving to another server), tokenization and processing by global technology node in India.” For this, they have affiliated with other fintech companies like ftcash, Syntizen, Happay, Signzy,Zeta and Razorpay. The company has plans to invest 1 billion dollars in Indian markets for next five years. He has also added that it also plans to use the system created in India for any other company’s traffic to balance its presence world over.
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