MasterCard to Erase Indian Transaction Data from Global Servers – CORPORATE ETHOS

MasterCard to Erase Indian Transaction Data from Global Servers

By: | December 18, 2018

Dec 18:  American multinational financial services corporation MasterCard has informed the RBI the date from which it will commence deleting data of Indian cardholders from its global servers. The company also warned that this will weaken the ‘safety and security’ for a temporary period.

A news report quoting Porush Singh, MasterCard India and division president (South Asia), stated that though the company is working in around 200 countries, no other nations have asked the company for a deletion of data from global servers.

In April, the Reserve Bank of India had RBI rolled out its new norms which were implemented on October 16. As per the new norms, payments’ companies were asked to store all information regarding the transactions which involved Indians, especially via Indian computers.

The company statement said that, as of October 6, the latest Indian transactions are stored in the company’s technology center at Pune. This is made based on the RBI directive on data localization.

MasterCard has recommended the RBI to delete back-data from a particular date which include the disputes over transactions. In the proposal submitted to the apex bank in India, the company has said that the details, including the card number and the transaction data, will be deleted from all the other platforms.

The data will be stored in India alone and the data elsewhere will be deleted. As per the proposal, the Indian data will be stored exclusively in the country and not in the global servers, it added.