Mastercard, a prominent payment service provider, appointed Rajnish Kumar, former Chairman of the State Bank of India (SBI), as its new Chairman for Mastercard India. According to a statement from Mastercard, Kumar will provide guidance to Mastercard’s South Asia executive leadership team, headed by Gautam Aggarwal, who serves as the Division President for South Asia and Country Corporate Officer for India. His role will involve navigating the complex landscape of domestic payments in India.
“Kumar will be keenly involved in augmenting the local leadership team in its efforts to expand our domestic footprint, while bolstering Mastercard’s ongoing commitment to forging strategic partnerships with stakeholders across the payments ecosystem – from banks to fintechs to governments, non-profits and more,” said Ari Sarker, President, Asia Pacific, Mastercard.
With nearly forty years of banking experience, this seasoned banker has dedicated his career to India’s largest bank. During his extensive tenure, he assumed diverse leadership positions, overseeing crucial operations spanning India, the UK, and Canada. His notable achievement includes spearheading the YONO platform, a testament to his innovative leadership. In October 2020, he successfully completed his three-year term as the Chairman of SBI.
Mastercard offers a range of payment transaction processing and other related-payment services (such as travel-related payments and bookings). The company has connection across 210 countries.
“With its relentless focus on partnering for progress and driving prosperity through inclusive growth, Mastercard has the technologies, capabilities, resources, and heart to contribute greatly to India’s vibrant payments technology landscape“, said Rajnish Kumar.