Mastercard is keen on being known not as a payments player but a technology company.
While most of these payment players continue to run Indian data through the global processes of data analytics and fraud detection, the industry seems divided over whether the regulator would allow this to continue.
'Never lose your optimism. Never lose your aspiration and never -- even if India becomes a prosperous consumer society -- never ever lose that shining light in your eyes,' advises Dr Peter McLaughlin, headmaster of the Doon School.
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