Your MasterCard might give you trouble. Here's why
New Delhi: Global payments major MasterCard announced recently that it will start deleting the data of its Indian customers from global servers, reported PTI. It may be noted that the Reserve Bank of India this year issued a new regulation which states that any information about transactions involving citizen's of India will be stored solely on computers in India.
Although MasterCard has proposed a date from which it will start deleting the data from global servers, it also warned that the move will weaken the safety and security over a period of time. According to RBI's data localisation directive, MasterCard said that all the new Indian customer's transaction data will be stored at its centre in Pune.
Mastercard's South Asia Division President, Porush Singh told news agency, "No other country in the world has asked us the data to be deleted from the global server and the reason why it is a concern for us because that would be weakening of the safety, security over a period of time."
For those who are not aware, data localisation means that the data about residents can be collected, stored and processed inside the country only. This data is transferred internationally provided it complies with data protection and local privacy laws.
Singh further told the agency that the data deletion process is not as simple as just pressing a button. There are chances for people charging the company, disputing transactions etc. and so, the whole process requires multiple stakeholders and players. He further said that they have only yet proposed the date and are waiting for RBI's confirmation to start the deletion process.
Worth mentioning here is that MasterCard will delete data like card number, transaction details etc. of Indian cardholders from everywhere else except India and the data will only be stored in the country.