Mastercard and City Union Bank Unveil India’s First ‘One Credential’ Experience for Consumers and SMEs
Mastercard and City Union Bank have launched a pilot program in India called 'One Credential' that allows consumers and SMEs to link multiple payment sources to a single tokenized card. The system automatically routes transactions to the appropriate account based on user-defined rules, such as merchant category or transaction type.
Why it matters
This innovation simplifies financial management for users by reducing the need for multiple physical cards while providing banks with new cross-selling opportunities.
Mumbai, Maharashtra, India --- Business Wire India
Mastercard today unveiled a pilot of its One Credential solution in India with City Union Bank (CUB), introducing the country’s first such experience that brings consumer and commercial payment relationships together under a single tokenized credential.
Mastercard One Credential is designed for both consumers and small and medium-sized enterprises (SMEs), allowing multiple eligible payment relationships to be linked to a primary card. Cardholders can set rules based on transaction amount, merchant category, channel, to name a few, ensuring transactions are automatically routed to the appropriate underlying source of funding when the primary card is used at checkout. They can also update these preferences at any time to reflect their evolving financial needs.
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