India: Announced lifting of restrictions imposed on Mastercard Asia / Pacific for compliance with data localisation requirements

On 16 June 2022, the Reserve Bank of India (RBI) lifted the restrictions imposed on Mastercard Asia / Pacific, following the company's compliance with the localisation requirement for payment system data. On 14 July 2021, the RBI issued an order forbidding Mastercard Asia / Pacific from onboarding new domestic customers from 22 July 2021 due to its non-compliance with the directive on the storage of payment system data. The directive requires all payment system providers to store the payment data only in India. The data subject to the localisation requirement includes full end-to-end transaction details, such as information collected, carried and processed as part of the payment instruction.