Mastercard Inc. is concerned that India’s strict data localization rules could compromise its ability to detect frauds and money laundering in the domestic payments system.
Storing customer data exclusively in India without creating mirror sites overseas is risky because “it takes away the capability to see the broader world,” said Mastercard’s Chief Product Officer Michael Miebach. However, he said the U.S. firm intends to comply with the new rules despite missing last year’s deadline to localize all its Indian data.
