Mastercard is betting big on India. The card company has invested $1bn in the Indian market in the last five years and is expected to invest another $1bn in the next five years. Mastercard also plans to make the country a global technology node for its various platforms. It is estimated that there are about 990 million cards in circulation in India and of these a vast majority, 945 million, are debit cards.
Addressing the audiences at the Content Marketing Summit Asia (CMS) held in May 2019 in Mumbai, Puneeth Bekal, director – marketing at Mastercard, spoke about how they are working towards convincing more and more Indians to shift from cash to card transactions in both large cities and small towns.
At Mastercard, Bekal manages the brand’s B2C and B2B2C objectives through mass 360 degree campaigns, global sponsorship assets and partnerships to promote a ‘cashless’ culture in the tier 2/3 towns and amongst affluent consumers in the metro cities.