PUNE: Mastercard today announced the inauguration of a new, state-of-the-art Tech Hub in Pune, which will support the company’s growth in India and play a crucial role in advancing its technology on a global scale. Spread over nearly half a million square meters, the campus in Pune is the latest addition to Mastercard’s global Tech Hub ecosystem which spans seven locations, including Arlington, Dublin, New York, Pune, St. Louis, Sydney, and Vancouver.

Located at Bluegrass Business Park in Yerwada, Pune, the Tech Hub will house over 6,000 technologists, engineers, and experts from diverse backgrounds and disciplines, ranging from software development to finance, data architecture to cybersecurity and beyond, making it Mastercard’s largest workforce in a single city, globally.

With an established presence in India for over four decades, today, Mastercard operates at the center of a thriving payments ecosystem that makes commerce in the country smarter, safer, and more inclusive. In 2014, Mastercard established its first India Tech Hub in Pune, starting with a small workforce that has grown manifold over the past decade, demonstrating the company’s substantial investment in the local workforce and economy. Today, the Pune Tech Hub plays a crucial role in supporting Mastercard’s vital global operations across payment safety, cybersecurity, fraud detection, and digital identity.

Ed McLaughlin, President & Chief Technology Officer, Mastercard, said: “We are thrilled to open the doors to our new Tech Hub in Pune which will play a pivotal part in Mastercard’s global technology strategy. As one of the key nodes for our technology operations worldwide, the new Pune Tech Hub will collaborate with other hubs around the world to build the revolutionary technologies that shape our world, powering economies to make everyday life happen. It also serves as a testament to Mastercard’s enduring commitment to empowering India, furthering its digital ambitions, and nurturing the immense talent in the country.”

The launch of Mastercard’s new campus will support several goals within the government’s “Viksit Bharat” vision, which seeks to transform India into a fully developed, technologically advanced economy by 2047—the 100^th anniversary of the country’s independence. Already, the Pune workforce has been supporting the way in delivering technological solutions for India’s domestic market. Key initiatives include the financial inclusion platform Community Pass, the global pilot launch of the Payment Passkey Service in India which integrates biometrics and tokenization for secure online checkout, and its role as an authorized Authentication Service Agency, enabling banking and government partners to offer Aadhaar-based services and benefits.

Gautam Aggarwal, Division President, South Asia, Mastercard, said: “India remains a strategic location for Mastercard, where we are deeply committed to investing in technologies that help the digital economy work all across the continent. Our newest Tech Hub in Pune marks a significant milestone, demonstrating Mastercard’s focus on growth in this market. With a strong team in India supporting global technological breakthroughs, we look forward to building on the work to achieve the Government of India’s ambitious digitization goals, alongside our valued partners in the region.”

At the Pune Tech Hub, Mastercard employees collaborate to address some of the most complex technological challenges facing the world today, ensuring the reliability of critical infrastructure for secure, seamless, and efficient payments globally. The new facility aims to deepen collaboration between Mastercard’s global teams and the vibrant Indian technology ecosystem.

To deliver a superior workplace experience, the Pune Tech Hub’s innovative design features:

• One of the company’s most sustainably designed offices globally: In alignment with India’s vision for inclusive and environmentally responsible growth and Mastercard’s commitment to achieving net zero by 2040, the solar-powered Pune Hub is the first building in the world to be TRUE Platinum certified for construction and the first TRUE-certified construction in India.[1]
• A teamwork-oriented, employee-centered space: The campus features technology-enabled collaborative spaces, workstations with state-of-the-art equipment, and thoughtfully designed meeting areas with a mix of natural and artificial lighting. It also includes numerous lounge areas, ergonomic sit-to-stand desks, and various wellness and recreational amenities, such as a quiet room, gymnasium, games room, open-air terrace and lounge, medical facility, and an exclusive cafeteria for Mastercard employees offering a range of healthy dining options.
• Elements inspired by nature and local culture: To stimulate creativity and harmony, the design themes on each floor are inspired by the ‘panch mahaboots’ – the five elements of nature. The walls are also adorned with murals and original art by Indian artists, paying tribute to the country’s landscapes, culture, and people.

The new Pune Tech Hub augments Mastercard’s growing presence in India which spans offices in Gurugram, Mumbai, Hyderabad, Bengaluru, and Vadodara. 

[1] Administered by Green Business Certification Inc. (GBCI), TRUE (Total Resource Use and Efficiency) helps facilities measure, improve, and recognize zero waste performance by promoting sustainable waste management and reduction practices that contribute to positive environmental, health, and economic outcomes.

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MUMBAI: Mastercard announced a collaboration with Gramophone, a leading agritech platform, to enable 2 million smallholder farmers on the Mastercard Community Pass platform in India with access to agri inputs. The two entities will work towards powering offline payments for farmers in rural and remote areas through the Community Pass financial inclusion card. Gramophone is also expected to enable their existing five lac farmers with offline payments and credit.

Community Pass provides a digital ecosystem for buyers who are looking for sustainable sources of quality produce at favorable market prices and supply chain financing; and for smallholder farmers looking for reliable markets, fair prices, and access to credit. The platform brings together various agri-sector stakeholders in a centralized agricultural marketplace, amplifying the collective positive impact on farming communities. Community Pass services also include an offline payment card and input credit that will be rolled out in the coming months.

This collaboration with Gramophone will ensure that farmers can buy the right inputs at a fair price. The service will be rolled out later this year, starting with inputs and offline payments, while access to credit will be launched early next year. In addition, Gramophone plans to roll out innovative loyalty/cash-back schemes for its members via the offline-enabled card. Through this collaboration, Gramophone also seeks to enable easier access to working capital for their farmer-producer organizations and small retailers for driving inputs and scaling business.

“In line with the Government of India’s vision to digitize the agriculture sector, Mastercard has been working to bring key stakeholders in the agri ecosystem onto one platform to ease credit and input access for farmers and enhance their incomes. This collaboration with Gramophone will ensure that farmers can access quality inputs of their choice, on easy credit terms, as well as the benefits of digital payments even without internet connectivity or smartphone availability,” said Ricardo Pareja, Head of Community Pass Markets, Mastercard.

“At Gramophone, we have consistently delivered top-tier agronomy advisory and quality products through our, in-house technology platform enabling Input Commerce. Now, we are excited to add Mastercard’s advanced technology stack and partner networks to further enhance India’s agricultural ecosystem. Starting with a pilot in Madhya Pradesh, we will aim to support farmers across India by increasing their incomes by 50-60%, through access to inputs and credit,” said Tauseef Khan, Co-founder, of Gramophone.

Mastercard Community Pass is a shared, interoperable digital infrastructure for rural populations that has benefitted over 2 million Indian farmers across 25 districts in eight states, to date. 

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• This all-in-one solution will allow users to accept Bharat QR, UPI, Tap & Pay, and Tap+ Pin payments
  
• The Tap+ Pin capability will power payments of more than ₹5000
  
• Merchants will receive sound and visual transaction alerts in 7+ languages

MUMBAI: Axis Bank, one of the largest private sector banks in India, today announced the launch of NFC Soundbox in collaboration with Mastercard. An industry-first proposition for the merchant community, the new soundbox will act as an all-in-one solution allowing the users to accept Bharat QR, UPI, Tap & Pay and Tap + Pin payments.

With this launch, Axis Bank will be the first bank in India to introduce a Soundbox that can accept Tap + Pin payments, enabling merchants to accept transactions greater than ₹5000 via card instruments. The device will be powered with a dual confirmation feature, providing audio cues through its speaker and visual feedback on the screen in more than seven languages, ensuring a smooth and reassuring transaction experience for both merchants and consumers.

The new Soundbox will be powered with 4G + Wifi capability which provides superior connectivity and seamless processing of transactions. It will be capable of supporting deep integration with third-party applications as well. With Dynamic QR, the amount is automatically populated when the consumer scans the code.

Axis Bank and Mastercard’s collaboration on the NFC Soundbox will help drive card payment acceptance among small merchants. The Soundbox’s innovative and cost-effective proposition along with a seamless transaction experience will help drive quick and secure contactless card payments, leading to cardholder delight.

The new device will also be available on all leading payment networks, such as Visa, RuPay, and American Express.

Speaking at the launch event, Sanjeev Moghe, President & Head- Cards & Payments, Axis Bank, said, “The Bank has always been at the forefront of innovation by introducing various form factors and digitizing the onboarding journey of merchants. This expansion will ensure that our capability stack offers state-of-the-art payment solutions while prioritising a faster and secure payment ecosystem. Through this initiative, we strive to deliver the best possible solutions to both the merchants and their customers by offering multiple modes of payments via different channels. This device aligns with the Bank’s asset lite strategy to provide products/solutions of superior quality at an affordable price. The NFC Soundbox will help the Bank further penetrate the small merchant segments with cost-effective and simple payment solutions that are secure and compliant with PCI standards.”

Commenting on the collaboration, Gautam Aggarwal, Division President, South Asia at Mastercard, said, “What is taking place in India is a playbook for the rest of the world in terms of innovation in digital payments at population scale. The launch of NFC Soundbox is another example of a form factor which provides consumers with access to quick and highly secure card transactions. At the same time, small merchants will be able to use a cost-effective all-encompassing payment solution. Mastercard is delighted to collaborate with Axis bank to power the launch of this unique device furthering digital payments acceptance among India’s small merchants and MSMEs.”

Axis Bank is the largest player in the merchant-acquiring business pan India, with POS terminal market share of 19.8% as of March’24. With an installed base of 17.60L terminals spread across the country, it serves all categories of merchants from the metro cities, urban and rural areas. The Bank has gained an incremental market share of 28% in the last 12 months period (April’23-March’24).

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As part of the partnership, Mastercard cardholders will have the opportunity to purchase match tickets during an exclusive 24-hour pre-sale window. They will also be able to meet cricket legends, get up close to the Men’s Cricket World Cup trophy, and experience unique access on match days. Children of cardholders aged between 12-18 years will also have the chance to be a part of the flagbearer program, and there will be a wide range of offers for Mastercard cardholders on official ICC merchandise.

Mastercard’s tie-up with the ICC highlights the brand’s commitment to cricket and adds to the global technology company’s prestigious international sports sponsorship portfolio, which includes associations with the likes of the UEFA Champions League and the PGA Tour.

ICC Chief Executive, Geoff Allardice, said, “We are delighted to announce Mastercard as a global partner for the ICC Men’s Cricket World Cup 2023, the pinnacle event of the one-day game. Mastercard brings its rich experience of sports partnerships to the table, and the ICC is looking forward to collaborating with a renowned global brand to bring many benefits to cricket lovers around the world.“

Chief Marketing and Communications Officer at Mastercard, Raja Rajamannar, said, “Cricket is a huge passion for millions of people across the globe, particularly in India and South Asia. We are excited to partner with the ICC for the 2023 ICC Men’s Cricket World Cup, allowing us to bring fans closer to their passion for the sport. We’re dedicated to connecting our customers, cardholders, and all cricket enthusiasts to priceless possibilities throughout the tournament.“

The ICC is the global governing body for cricket, representing 108 members. The ICC governs and administrates the game and is responsible for the staging of major international tournaments, including the ICC World Test Championship Final, ICC Men’s and Women’s Cricket World Cups, T20 World Cups, as well as all associated qualifying events. The ICC also appoints the umpires and referees that officiate at all sanctioned Test matches, One Day Internationals, and T20 Internationals. Through the Integrity Unit, it coordinates action against corruption and match-fixing.

Mastercard is a global technology company in the payments industry. Its mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart, and accessible. Using secure data and networks, partnerships, and passion, its innovations and solutions help individuals, financial institutions, governments, and businesses realize their greatest potential. With connections across more than 210 countries and territories, Mastercard is building a sustainable world that unlocks priceless possibilities for all.

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