Mastercard pivots beyond cards, chases tier-3/4 India via credit-on-UPI and SME rails
Post-2021 RBI embargo, Mastercard India says volumes are compounding 20-25% annually. Country head is steering the franchise into credit-on-UPI, soundbox acceptance and commercial payments — the latter up 5x in three years — to tap 700M UPI accounts and 350M active users beyond the 55M credit card base.
Mastercard India plans to expand beyond traditional cards into credit-on-UPI, tier-3/4 markets, soundbox acceptance, SME and commercial payments. Country head says volumes grew 20-25% yearly post-2021 RBI embargo; commercial payments business grew five-fold in three years.