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MasterCard targets 40 per cent growth this year
New Delhi, Jan 3: Mastercard, which crossed the two-million mark in credit and debit card business, has embarked on an ambitious plan to achieve 40 per cent growth in the first year of the new millennium. With the introduction of debit cards, the company proposes to tap the 200-million bank account holders in the country, Mastercard International Asia-Pacific president Andre Sekulic said, adding "the growth we achieved in the last five years worldwide, we propose to achieve it in India in the next 12-18 months." Sekulic said that the credit-card business has not grown rapidly in India as in developed countries because of the general dislike for credit among the Indian population and it is precisely for this reason, that debit cards have a much wider acceptance in the country. Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.
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