Finance
Mastercard Seeks to Ride India’s Credit, Payments Boom
- Digital payments to rise as India eyes $7 trillion economy
- Firm looking at credit access for women, small businesses
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Mastercard Inc. is looking to expand its base of partners and services to tap into the growing credit opportunity in India where the use of digital payments has surged.
Digital transactions in India have jumped 39% to 187.4 billion rupees ($2.2 billion) in fiscal 2024, largely spurred by the public infrastructure platform Unified Payments Interface, or UPI, according to data from Reserve Bank of India. UPI accounted for 70% of all digital payments.