My competition is cash, not Paytm or Apple: Mastercard CEO
Ajay Banga, the President and CEO of Mastercard, has said that his competition is cash and not other networks like Paytm and Apple. "We are actually working with all of them. They all need our technology," Banga said. Adding that India is a huge open marketplace, he said that more than 95% of retail payments in India is cash-based.