Cards · Asia-Pacific · Available
Mastercard in India
Mastercard is one of the payment methods in India. Payments are made in INR; the method supports pay-in, payout, recurring, refund; settlement: T+1; chargebacks: under the scheme rules. The payments regulator in India is Reserve Bank of India (RBI). Providers for Mastercard in India in the Tranzify catalogue: Razorpay.
Key facts
- Currency
- INR (Indian rupee)
- Operations
- Pay-in · Payout · Recurring · Refund
- Settlement
- T+1
- Chargebacks
- under the scheme rules
- Payments regulator
- Reserve Bank of India (RBI)
Providers for Mastercard in India
| Provider | Provider type | Supported operations | Status at Tranzify |
|---|---|---|---|
| Razorpay | Acquirer | Pay-in, Payout, Recurring, Refund | On request |
How a payment goes through
- 1The payer enters the card on the hosted checkout; the number is encrypted before it leaves the page
- 2The vault stores a token; routing picks the acquirer by BIN, country and amount
- 33-D Secure when the issuer asks; the acquirer authorises
- 4Callback to the merchant, status in the journal for five years
Other payment methods in India
| Type | Payment methods | share of e-commerce payments |
|---|---|---|
| Bank transfers & instant payments | UPI | 60 % |
| Bank transfers & instant payments | IMPS / NEFT | — |
| Wallets | Paytm | — |
| Cards | Visa | — |
| Wallets | Google Pay | — |
| Wallets | Apple Pay | — |
| Cards | RuPay | — |
| Bank transfers & instant payments | Net banking | — |
Mastercard in other countries
Frequently asked questions
Which providers offer Mastercard in India?+
In the Tranzify catalogue Mastercard in India is offered by Razorpay. A client connects its own account with the provider as a terminal; routing and cascading between several providers are set up in the back office.
How widely is Mastercard used in India?+
The catalogue has no published market share for Mastercard in India; the method is listed among the country's payment methods.
Which operations does Mastercard support in India?+
Mastercard supports pay-in, payout, recurring, refund. Settlement is T+1 and chargebacks are under the scheme rules; the amounts are in INR.
Who holds the licence for Mastercard in India?+
Tranzify is software. The licensed client, a payment institution, an acquirer or its partner, contracts with the providers and the merchants; the platform routes the payments, records them in the journal and reports them. The payments regulator in India is Reserve Bank of India (RBI).
Articles about India
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