The RBI's decision to prohibit Mastercard from issuing new cards may hit 5 private banks.
The Reserve Bank of India's (RBI) move to ban Mastercard from issuing new cards for failing to follow local data storage requirements might affect five private banks, a non-bank lender, and a major card issuer. As these players switch to other card networks, the impact is expected to last a few months.
RBL Bank, YES Bank, and Bajaj Finserv are the most affected by the ban, according to Nomura Research, because all of their credit card schemes are linked to Mastercard. According to the research, IndusInd Bank, Axis Bank, and ICICI Bank each have 35-40% of their credit card programmes tied to Mastercard. Despite the fact that Mastercard is responsible for 45 percent of HDFC Bank's credit card schemes, the lender is not affected in any way because it is already prohibited from issuing new cards.
SBI Cards, a significant card issuer, would also feel the heat as a result of Mastercard's prohibition (see table), though its tiny exposure means minor damage.
In an exchange statement, private sector lender RBL Bank, the fifth-largest credit card issuer, announced it had cobbled together a deal with Visa to issue credit cards. After the technology integration, which is expected to take 8-10 weeks, the bank expects to be ready to start issuing credit cards on the Visa payment network. In the meantime, it expects its monthly run rate of 100,000 new credit cards to be impacted.
“For new credit card issuance, we are investigating a migration to other systems for a seamless transition,” YES Bank, which had an exclusive tie-up with Mastercard for credit card issuance, told Business Standard.
Private bank card issuance is expected to slow down, according to experts. During this time, their other sources of income may suffer a minor setback. Public sector banks, on the other hand, will be unaffected because they are increasingly issuing cards on the RuPay card payment network.
“There would be lesser issue of credit cards for a few months, depending on who has how much proportion of Mastercard,” Suresh Ganapathy, associate director, Macquarie Capital Securities, said. Debit card issuance may also be slower,” he added, adding that the problem was due to a supply shortage that will be resolved in following quarters.
“At this point, it appears to be an 8-12 week issue,” he added. Many people may switch to RuPay for debit cards, and banks will switch to Visa for credit cards.
The impact on players will differ depending on their affiliations with other card networks and the type of cards they are playing. RBL Bank, for example, has a Mastercard partnership for credit card issuance, but its debit and prepaid cards are also available on other payment networks. YES Bank's debit cards are also available on the Visa and RuPay platforms, according to the bank.
Banks that have exclusive agreements with Mastercard are required to form alliances with other networks. Co-branded credit cards, which are tie-ups between banks, vendors/merchants, and a specific card network, are also a source of worry. Following the suspension, new Mastercard co-branded cards will no longer be issued.
On the Mastercard platform, Axis Bank, one of India's leading credit card issuers, has a co-branded credit card with Flipkart. On the Mastercard platform, SBI Credit Card has co-branded credit cards with Tata Capital and Club Vistara. On the Mastercard platform, RBL Bank has a co-branded credit card with Bookmyshow.
According to Axis Bank's annual report, it sourced nearly 200,000 credit cards through its relationships with Flipkart and Google Pay in FY21. “Despite the pandemic delaying acquisition for a few months, the bank's hallmark card proposal ‘Flipkart Axis Bank Credit Card' reached a key milestone of 1 million cards in force (CIF) in a record time of 20 months since its launch,” the bank said.
Axis Bank did not respond to an email requesting comment. “We have a diverse product offering on different networks, including Rupay, Visa, Mastercard, and American Express,” an SBI Cards spokeswoman stated. Because there are just a few co-brand credit cards on the Mastercard network, our new customer acquisition impact is minimal.”
It should be noted that the RBI ban only applies to new card issuances; existing card operations is unaffected.
Visa is the largest participant in the market, followed by Mastercard and RuPay, according to industry estimates. However, Mastercard is thought to hold a privileged position in the industry. RuPay is considered as a disruptor, catching up to its worldwide counterparts quickly. While data on card operators' market share isn't publicly available, the National Payments Corporation of India reported earlier this year that RuPay had a market share of 34% by volume and 30% by value.
According to the latest figures from the Reserve Bank of India, there are 902.3 million debit cards and 60.23 million credit cards in circulation. In debit cards, all three players holds a significant share of the market but in the case of credit cards, Visa and Mastercard are the dominant players.
Gbwafr 22-09-2023 | 06:00 PM
order isotretinoin 10mg pill order amoxil 250mg without prescription zithromax 500mg pill
Qbaqfm 18-09-2023 | 06:00 PM
purchase cenforce online cheap buy generic naproxen 500mg chloroquine medication
Owycln 10-09-2023 | 06:00 PM
vasotec 5mg generic doxazosin 1mg ca lactulose over the counter
Fjrgbx 07-09-2023 | 06:00 PM
ferrous sulfate for sale risedronate cost purchase betapace sale
Hobmtg 05-09-2023 | 06:00 PM
mestinon 60 mg sale order rizatriptan maxalt 10mg for sale
Rhhxlp 01-09-2023 | 06:00 PM
order florinef without prescription buy loperamide cheap buy loperamide 2 mg without prescription
Alaccl 31-08-2023 | 06:00 PM
buy monograph 600mg online cheap purchase pletal online cheap brand pletal 100 mg
Nevtjr 29-08-2023 | 06:00 PM
duphaston 10 mg pill where to buy januvia without a prescription order empagliflozin 25mg online cheap
Xmlfld 26-08-2023 | 06:00 PM
melatonin 3mg cost buy desogestrel pills danazol 100mg for sale
Txhqyw 23-08-2023 | 06:00 PM
order aspirin 75mg pills order hydroquinone sale buy imiquimod
Zhtixi 20-08-2023 | 06:00 PM
order minoxytop sale minoxytop ca ed pills cheap
Sroppc 20-08-2023 | 06:00 PM
zaditor 1 mg cost order ziprasidone without prescription buy tofranil 75mg sale
Rsbfva 17-08-2023 | 06:00 PM
levetiracetam 500mg oral order sildenafil 100mg online cheap buy viagra 50mg
Vxuqii 15-08-2023 | 06:00 PM
cefpodoxime usa pill vantin 100mg buy cheap generic flixotide
Zrogye 14-08-2023 | 06:00 PM
valaciclovir 1000mg cheap buy cotrimoxazole 960mg pill order ofloxacin pill
Ntklfk 13-08-2023 | 06:00 PM
buy generic zebeta lozol over the counter order terramycin 250 mg pills
Nswsyb 12-08-2023 | 06:00 PM
buy frumil 5 mg for sale buy frumil for sale acyclovir for sale
Kuzwhr 10-08-2023 | 06:00 PM
buy prozac generic buy generic naltrexone 50 mg letrozole order
Atvowa 09-08-2023 | 06:00 PM
buy epivir generic combivir pills buy quinapril generic
Ymdjtq 07-08-2023 | 06:00 PM
cost ciprofloxacin brand lincomycin 500 mg duricef 500mg for sale
Gzuxdp 05-08-2023 | 06:00 PM
buy capoten 25mg online order generic candesartan carbamazepine uk
Kggkah 05-08-2023 | 06:00 PM
order bupropion for sale bupropion 150 mg for sale strattera 25mg sale
Pvxzrq 02-08-2023 | 06:00 PM
decadron 0,5 mg brand starlix 120mg pill brand nateglinide 120 mg
Epkpcd 01-08-2023 | 06:00 PM
buy trileptal 300mg pill uroxatral where to buy ursodiol over the counter
Iifqis 30-07-2023 | 06:00 PM
buy diovan 80mg pill buy valsartan 80mg for sale ipratropium 100 mcg tablet
Phpxcm 27-07-2023 | 06:00 PM
order paracetamol 500mg sale oral paxil 20mg order pepcid 40mg pills
Agsvtr 26-07-2023 | 06:00 PM
generic glucotrol 10mg order glucotrol 5mg purchase betnovate online cheap
Viijou 24-07-2023 | 06:00 PM
order generic fluvoxamine duloxetine 20mg uk generic duloxetine
Vnzari 23-07-2023 | 06:00 PM
nitrofurantoin online order macrodantin uk generic nortriptyline 25 mg
Hmjiju 22-07-2023 | 06:00 PM
cheap biltricide buy hydrochlorothiazide online cheap buy cyproheptadine
Qkuekn 21-07-2023 | 06:00 PM
oral oxybutynin 2.5mg order amitriptyline 50mg generic fosamax cost
Efszmc 19-07-2023 | 06:00 PM
order amiodarone sale brand amiodarone 200mg dilantin for sale online
Pfrhxy 19-07-2023 | 06:00 PM
irbesartan drug irbesartan us buspar for sale online
Aaulkn 17-07-2023 | 06:00 PM
buy arcoxia pills for sale arcoxia us azelastine nasal spray
Snfxsk 16-07-2023 | 06:00 PM
buy hytrin 1mg without prescription cheap terazosin 1mg real cialis fast shipping
Ejvvzu 15-07-2023 | 06:00 PM
oral allegra 120mg buy amaryl generic buy glimepiride medication
Hhbfhe 13-07-2023 | 06:00 PM
dapsone 100 mg us order generic perindopril perindopril 8mg uk
Zfzjvc 13-07-2023 | 06:00 PM
erection pills viagra online purchase tadalafil online cheap order cialis 40mg sale
Qfnrvm 12-07-2023 | 06:00 PM
buy phenazopyridine 200 mg generic buy singulair 10mg generic brand amantadine 100 mg
Uqpdqh 11-07-2023 | 06:00 PM
otc ed pills cialis walmart order tadalafil 10mg without prescription
Stfncn 10-07-2023 | 06:00 PM
buy lansoprazole 15mg prevacid 30mg ca buy protonix 40mg online cheap
Xnohhq 09-07-2023 | 06:00 PM
molnupiravir 200 mg ca order molnunat 200 mg pill oral cefdinir 300mg
Hibtxa 09-07-2023 | 06:00 PM
where can i buy ed pills usa pharmacy viagra viagra 50mg over the counter
Hwkltt 07-07-2023 | 06:00 PM
imuran 25mg brand buy generic imuran micardis sale
Aubkba 07-07-2023 | 06:00 PM
oral antivert 25 mg oral minocin 100mg buy minocycline 100mg generic
Vshgdt 06-07-2023 | 06:00 PM
buy depakote generic purchase isosorbide pills imdur 20mg over the counter
Gctwbw 05-07-2023 | 06:00 PM
buy anastrozole tablets arimidex tablet catapres 0.1mg canada
Fkugcu 04-07-2023 | 06:00 PM
order sulfasalazine 500 mg without prescription azulfidine online buy generic calan 240mg
Ntzytx 03-07-2023 | 06:00 PM
order lamisil generic amoxicillin canada order trimox 500mg online
Jjwkmk 02-07-2023 | 06:00 PM
buy tadalafil 10mg sale online ed medications buy ed pills
Ftknsg 01-07-2023 | 06:00 PM
tadalafil tablets how much is cialis viagra 50mg usa
Pejxam 29-06-2023 | 06:00 PM
propecia 5mg generic viagra us cost viagra 100mg
Qrddle 29-06-2023 | 06:00 PM
tretinoin price buy retin generic order avana 200mg generic
Zzneth 27-06-2023 | 06:00 PM
order generic aldactone 100mg simvastatin 10mg us valtrex 500mg generic
Ajaevz 26-06-2023 | 06:00 PM
order lamotrigine 200mg purchase vermox generic prazosin 1mg canada
Iggcuw 26-06-2023 | 06:00 PM
celecoxib brand buy zofran online ondansetron usa
Muotam 24-06-2023 | 06:00 PM
sildenafil 50mg sale order estradiol pill purchase estrace generic
Pckmjh 24-06-2023 | 06:00 PM
avodart where to buy order meloxicam 7.5mg generic mobic 15mg usa
Rakzvh 23-06-2023 | 06:00 PM
order robaxin 500mg sale buy desyrel buy sildenafil pill
Tknqtp 23-06-2023 | 06:00 PM
oral topamax buy generic sumatriptan 50mg purchase levaquin pill
Aapcmi 21-06-2023 | 06:00 PM
buy metoclopramide esomeprazole 40mg cost esomeprazole oral
Sadgwo 21-06-2023 | 06:00 PM
rhinocort nasal spray bimatoprost for sale online purchase bimatoprost without prescription
Vwdgeu 19-06-2023 | 06:00 PM
clopidogrel order coumadin 2mg for sale warfarin 2mg usa
Qjyjgm 19-06-2023 | 06:00 PM
purchase erythromycin for sale brand tamoxifen 10mg cost tamoxifen 20mg
Fsxsdq 18-06-2023 | 06:00 PM
toradol 10mg usa buy ketorolac cheap inderal canada
Uifyae 17-06-2023 | 06:00 PM
septra pills cleocin 300mg canada buy clindamycin generic
Dkidzo 16-06-2023 | 06:00 PM
cheap tetracycline flexeril 15mg oral baclofen 25mg drug
Ahyref 15-06-2023 | 06:00 PM
buy acillin pills for sale buy acillin pills buy metronidazole 400mg pill
Eezcuw 15-06-2023 | 06:00 PM
oral rosuvastatin 10mg purchase ezetimibe online buy motilium for sale
Qelpup 13-06-2023 | 06:00 PM
buy aristocort 10mg for sale buy clarinex 5mg generic claritin canada
Awcvzi 13-06-2023 | 06:00 PM
buy diltiazem 180mg pills allopurinol pills allopurinol generic
Nyyrya 11-06-2023 | 06:00 PM
lopressor 100mg generic lopressor 50mg tablet methylprednisolone for sale online
Nnikpp 11-06-2023 | 06:00 PM
order priligy purchase dapoxetine pills order xenical 120mg generic
Xvskcv 09-06-2023 | 06:00 PM
order norvasc generic order amlodipine treat indigestion
Tkfdwm 06-06-2023 | 06:00 PM
montelukast 10mg over the counter avlosulfon 100mg tablet order avlosulfon 100 mg sale
Cecnnl 06-06-2023 | 06:00 PM
order olumiant 2mg sale glycomet online buy atorvastatin 80mg sale
Oravrk 05-06-2023 | 06:00 PM
buy proventil 100mcg generic order albuterol 100 mcg generic purchase phenazopyridine for sale
Pqonfs 03-06-2023 | 06:00 PM
naproxen 500mg ca prevacid 15mg for sale buy generic lansoprazole
Kgcfzu 31-05-2023 | 06:00 PM
order diamox 250mg sale azathioprine canada azathioprine 50mg over the counter
Sxefae 31-05-2023 | 06:00 PM
order coreg 25mg generic coreg over the counter chloroquine sale
Rhskax 29-05-2023 | 06:00 PM
buy cheap clobetasol order cordarone 200mg generic order cordarone sale
Quujlq 29-05-2023 | 06:00 PM
benicar 20mg usa buy benicar tablets divalproex 500mg canada
Vqahgh 28-05-2023 | 06:00 PM
buy generic asacol for sale asacol drug cheap avapro 150mg
Irqvue 27-05-2023 | 06:00 PM
order levitra 20mg generic buy plaquenil buy generic plaquenil 200mg
Gwnwss 26-05-2023 | 06:00 PM
ramipril 10mg pill cheap amaryl 1mg how to get arcoxia without a prescription
Krybim 25-05-2023 | 06:00 PM
buy levitra 10mg pill tizanidine 2mg for sale hydroxychloroquine without prescription
Epxbpf 24-05-2023 | 06:00 PM
furosemide 40mg canada ventolin 2mg uk order ventolin 2mg sale
Pwkzib 23-05-2023 | 06:00 PM
stromectol pill buy generic ed pills brand deltasone 40mg
Cdpnor 22-05-2023 | 06:00 PM
buy azithromycin 250mg online buy azipro 250mg pill gabapentin 600mg pill
Gmdseu 21-05-2023 | 06:00 PM
cialis 40mg over the counter cialis 20mg uk tadalafil 10mg ca
Ypswhm 20-05-2023 | 06:00 PM
order accutane generic zithromax 500mg tablet buy zithromax 500mg pill
Hpkkly 20-05-2023 | 06:00 PM
leflunomide buy online viagra 50mg oral azulfidine 500mg pills
Wexwfg 18-05-2023 | 06:00 PM
catapres 0.1 mg generic spiriva without prescription tiotropium bromide 9mcg usa
Vrgdob 17-05-2023 | 06:00 PM
brand bimatoprost buy bimatoprost for sale desyrel 100mg canada
Sqfgpf 16-05-2023 | 06:00 PM
trimox 250mg cheap buy biaxin without prescription purchase clarithromycin for sale
Mkxhjc 15-05-2023 | 06:00 PM
indocin 75mg pill indomethacin online order order suprax 200mg for sale
Zudcpp 14-05-2023 | 06:00 PM
tamoxifen 20mg us tamoxifen 20mg generic ceftin ca
Vmyzja 13-05-2023 | 06:00 PM
cheap avana cheap cambia brand diclofenac 100mg
Ntmncb 13-05-2023 | 06:00 PM
cleocin 150mg drug buy erythromycin 500mg generic sildenafil 50mg for sale
Jgudpv 11-05-2023 | 06:00 PM
order vermox online tadalafil 10mg generic cost tadalis
Fqjzze 11-05-2023 | 06:00 PM
cost flagyl cheap trimethoprim buy cephalexin 500mg
Jyroxn 10-05-2023 | 06:00 PM
buy generic estrace buy prazosin for sale order minipress 2mg pill
Cqawnr 10-05-2023 | 06:00 PM
diflucan drug buy ampicillin tablets purchase cipro online cheap
Lpxxtd 08-05-2023 | 06:00 PM
cefadroxil online order oral finasteride finasteride 5mg ca
Sryfyg 08-05-2023 | 06:00 PM
cialis 20mg sale order tadalafil 10mg for sale us viagra
Nrdmxe 07-05-2023 | 06:00 PM
order tegretol 200mg pill tegretol 400mg pill purchase lincomycin for sale
Bxtxuf 06-05-2023 | 06:00 PM
oral simvastatin 10mg order simvastatin pill sildenafil 50mg pill
Lxujqr 04-05-2023 | 06:00 PM
nateglinide price buy nateglinide 120mg online candesartan 16mg for sale
Kijjqx 04-05-2023 | 06:00 PM
nebivolol 20mg pills buy diovan pills for sale buy generic clozaril 100mg
Ndcmso 03-05-2023 | 06:00 PM
buy progesterone 200mg pill oral tinidazole buy generic olanzapine online
Pjdmqj 01-05-2023 | 06:00 PM
order betamethasone 20gm without prescription sporanox 100mg price itraconazole 100 mg cheap
Jjlkdu 01-05-2023 | 06:00 PM
purchase cymbalta pills order nootropil 800 mg piracetam for sale
Ghpdpf 30-04-2023 | 06:00 PM
flomax online buy buy aldactone 25mg pills buy generic spironolactone online
Yvlqxc 28-04-2023 | 06:00 PM
purchase toradol generic inderal usa purchase inderal for sale
Ypyyrv 27-04-2023 | 06:00 PM
buy sumycin 500mg baclofen 25mg price ozobax online
Ikfblc 27-04-2023 | 06:00 PM
purchase imitrex generic buy imitrex without a prescription dutasteride online
Fhppht 25-04-2023 | 06:00 PM
order crestor 10mg pills rosuvastatin 10mg canada domperidone 10mg price
Lwemmu 25-04-2023 | 06:00 PM
cozaar cost buy nexium online purchase topamax pills
Tbgvgb 24-04-2023 | 06:00 PM
buy xenical 120mg generic generic acyclovir 400mg order zyloprim 100mg
Eygsim 24-04-2023 | 06:00 PM
methotrexate 10mg uk oral methotrexate 10mg generic metoclopramide
Gujbgz 23-04-2023 | 06:00 PM
pregabalin 150mg cheap buy pregabalin no prescription oral dapoxetine 60mg
Huepnw 22-04-2023 | 06:00 PM
zestril 5mg cheap order zestril 10mg pill metoprolol medication
Xmyeyn 22-04-2023 | 06:00 PM
generic biltricide 600 mg purchase praziquantel buy periactin without a prescription
Nzrcuy 21-04-2023 | 06:00 PM
buy glucophage 1000mg for sale glycomet us amlodipine over the counter
Yqhemb 20-04-2023 | 06:00 PM
albendazole 400mg uk albendazole oral cheap medroxyprogesterone 10mg
Lqvnzq 20-04-2023 | 06:00 PM
cost levothroid levitra 10mg uk order vardenafil 10mg without prescription
Hbcqad 19-04-2023 | 06:00 PM
buy tenormin pills for sale medrol 16 mg otc order femara 2.5 mg online cheap
Kvhimm 19-04-2023 | 06:00 PM
doxycycline over the counter vibra-tabs cost amoxiclav buy online
Nxgfzu 18-04-2023 | 06:00 PM
buy clomiphene pills for sale buy hydroxychloroquine cheap buy hydroxychloroquine pills
Dxresu 16-04-2023 | 06:00 PM
prednisolone tablet order gabapentin 100mg without prescription buy generic furosemide
Yshshq 16-04-2023 | 06:00 PM
albuterol order buy albuterol cheap synthroid 100mcg cheap
Pyrwtr 15-04-2023 | 06:00 PM
cheap gabapentin sale buy neurontin 800mg buy generic doxycycline
Nyshri 14-04-2023 | 06:00 PM
buy accutane 10mg online cheap purchase zithromax online azithromycin 250mg over the counter
Nggsho 14-04-2023 | 06:00 PM
order generic amoxil 250mg order amoxil generic prednisolone oral
Nobmtj 13-04-2023 | 06:00 PM
order provigil 100mg for sale provigil 200mg drug buy prednisone generic
Tqgfzq 12-04-2023 | 06:00 PM
ivermectin 0.5 lotion buy stromectol for humans buy isotretinoin 40mg generic
Hczpkv 11-04-2023 | 06:00 PM
cialis pharmacy cialis generic name home remedies for ed erectile dysfunction
Ntbocf 11-04-2023 | 06:00 PM
cialis 5mg pill over the counter ed pills that work best drug for ed
Lorgeo 09-04-2023 | 06:00 PM
oral femara order generic viagra sildenafil ca
Ntozyx 09-04-2023 | 06:00 PM
atorvastatin 40mg cheap order lipitor 20mg generic buy viagra 50mg for sale
Vlvxog 08-04-2023 | 06:00 PM
escitalopram 20mg drug lexapro 10mg brand order naltrexone
Jydvqd 07-04-2023 | 06:00 PM
cenforce where to buy cenforce price metformin 500mg pill
Kbdfjj 07-04-2023 | 06:00 PM
cost cetirizine 5mg cetirizine 5mg ca buy generic zoloft for sale
Rgatac 04-04-2023 | 06:00 PM
coumadin buy online oral metoclopramide buy allopurinol 100mg generic
Ggafbl 03-04-2023 | 06:00 PM
buy phenergan online buy cialis once daily order tadalafil 5mg sale
Ikpzpw 02-04-2023 | 06:00 PM
how to get ezetimibe without a prescription purchase tetracycline purchase methotrexate pills
Xiigga 01-04-2023 | 06:00 PM
viagra overnight shipping usa real viagra 100mg tadalafil 40mg tablet
Ottbhm 31-03-2023 | 06:00 PM
alfuzosin 10mg over the counter order diltiazem 180mg online cheap diltiazem canada
Dofvvx 30-03-2023 | 06:00 PM
oral dapsone 100 mg buy mesalamine 800mg online cheap cheap atenolol
Hpxnwe 29-03-2023 | 06:00 PM
order zocor 10mg without prescription promethazine 25mg us sildenafil 20 mg
Vbtwfo 28-03-2023 | 06:00 PM
order omnicef online cheap cefdinir drug order protonix 20mg online