Business Standard (India): National debit card play to cut payouts to Visa, MasterCard
Banks in India are reportedly considering building their own national debit/ATM network to reduce the fees they pay to Visa and MasterCard.
Essentially this would mean replicating Master Card‚s Maestro and Visa Electron networks in the country by a third-party. The objective is to save on the transaction fee that is paid to these international credit card agencies and remitted outside the country.
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