India's domestic payments networks are gaining ground over US companies Mastercard and Visa, a few months after the two American firms complained to their government that the Indian Prime Minister Narendra Modi was pushing a local rival.
The US is pushing India to water down its laws on localisation of data storage, with two senators claiming they would constitute key barriers to trade between the two countries.
Global payments companies MasterCard, Visa and American Express are furiously lobbying the Indian Government in a bid to avoid having to store customer data locally as mandated back in April.
Still doesn't work with Corporate cards.
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