MasterCard has a 33% market share, which is almost the same as that of Visa Card. RBI is getting strict about the rules. MasterCard got banned for onboarding new customers in India. I’m reading some articles, that states that experts warn that even Visa could see a ban like the one that American Express, Diners Club International, and Mastercard are facing. What is Niyo’s view on issuing RuPay card with its saving account product like Niyox & Niyo SBM?
Thanks for your question. Well, we would not be able to comment on the actions taken by RBI on MasterCard, Amex etc but in our understanding, RBI would have acted on Visa if they would have not adhered to the policies. Given the fact that RBI has not restrained Visa while asking MasterCard to resolve the non-compliance item gives us the confidence that Visa complies with the guidelines.
We are considering Rupay for NiyoX program, but they are low on international acceptability which limits the use-case for our customer segment. Hope that answers your question.