MasterCard Ban Gives Edge To Visa For Issuing New Cards: RBL Bank

Reserve Bank of India (RBI) impeded MasterCard from issuing new cards to national customers from July 22, over violating data storage regulations without harming the existing customers. Meanwhile, the RBL Bank has signed a contract with Visa Worldwide to issue new credit cards. Approximately, there are 3 million credit card customers under RBL and is the fifth largest credit card issuer in the country.