US card and payments giant MasterCard has expanded its R&D presence in India by opening a new technology centre in Pune.
By the end of the year, this will take its total number of employees in the country up to 1,500.
The centre will develop new payment technologies for international application and will also help to roll out MasterCard’s mobile payment system in April.
“There is a lot of momentum in India in the digital payments space and the right time for us to scale up,” Rob Reeg, President of Operations and Technology told Huffington Post India.
The announcement follows MasterCard’s decision to buy up the New York based company C-Sam, which also has technology development centres in the Indian state of Gujarat. The company has created a system called MasterPass, which allows customers to make online payments without entering card details.
Mastercard is working with Stripe to expedite the payment process for American sellers on the latter's marketplaces using the instant payouts feature from Stripe.
Lloyds has launched biometric finger print authentication for mobile banking.
Barclaycard has partnered with Case Station, a company that makes personalised phone cases, to embed contactless technology in the latter's smartphone cases.
Digital challenger bank, N26, which has been live for one and a half years and has more than 200,000 customers, rolled out a new feature that allows its customers to transfer money using Siri. All they have to do is talk to it.