The Hindu Business Line : Indian Bank ties up with Mastercard

This means that the bank will have its swipe-machines installed at various establishments — shops, hotels, hospitals — and will get money every time somebody swipes a card on that machine.The bank's Chairman and Managing Director Mr M.B.N. Rao, told Business Line on the sidelines of a press conference here that he had, for starters, had an informal chat with Mr Nitin Gupta, Country Manager, Mastercard International, on this subject.

The bank today launched its ATM-cum-debit card in association with MasterCard. The bank's customers can use the card at 8,000 ATMs in the country, Mr Rao said.

At the press conference, Mr Gupta said that there were 7.8 billion transactions using Mastercard, of a value of $ 680 billion. In India, there are 5 million credit cards and 10 million debit cards of MasterCard brand.

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