How many credit cards are in use in India?

58 million credit cards
As of August 2020, nearly 58 million credit cards were in use in India.

How many people in India have a credit card in 2020?

57.3 million
From 52 million credit card users in 2019, and 57.3 million in 2020, the overall credit card in circulation has reached 64 million in 2021.

What percentage of India uses credit cards?

India: Percent of people aged 15+ who have a credit card, 2011 – 2017: For that indicator, we provide data for India from 2011 to 2017. The average value for India during that period was 2.98 percent with a minimum of 1.77 percent in 2011 and a maximum of 4.18 percent in 2014. The latest value from 2017 is 3 percent.

How many credit cards are issued each year?

Credit card and debit card number in the U.S. 2012-2018 In 2018, there were approximately 1.1 billion credit cards in the United States, a figure over three times higher than that of debit cards. In 2019, Visa was the biggest credit card brand across the nation with over 300 million cards issued.

How many payment cards are there in India?

NEW DELHI: In India, there are broadly four types of cards through which you can make payments — debit cards, credit cards, prepaid cards, and electronic cards. These can be classified based on their issuance, usage and payment by the cardholder. All these cards are different in terms of making payments.

How big is the credit card industry in India?

Indians’ credit card spends in September jumped 57\% on a year-on-year basis to Rs 80,000 crore, according to the latest data from the Reserve Bank of India (RBI). This represents 3.2\% sequential growth, despite a high base of Rs 77,981 crore in August.

What is the average number of credit cards per person?

While Americans, on average, have nearly four credit cards each, that’s only a national average. When it comes to how many credit card accounts you should have, you need to base that decision on your specific financial situation.

What percentage of the world has credit cards?

Percent of people aged 15+ who have a credit card, 2017 – Country rankings: The average for 2017 based on 142 countries was 19.28 percent.

How many credit cards are issued in the United States?

1.1 billion credit cards
Credit card and debit card number in the U.S. 2012-2018 In 2018, there were approximately 1.1 billion credit cards in the United States, a figure over three times higher than that of debit cards. In 2019, Visa was the biggest credit card brand across the nation with over 300 million cards issued.

Who is India’s largest credit card issuer?

HDFC Bank
To be sure, HDFC Bank remains the largest credit card issuer, with 14.8 million cards outstanding at the end of June, followed by SBI Card with 12 million and ICICI Bank with 11.03 million. HDFC Bank now plans to further strengthen its position at the top.

How many credit cards are there in India?

The number of credit card users in India in 2019 touched 52 million. Yet there are only about 3 credit cards for every 100 people in India, when compared to 32 cards in the USA. This shows that there is higher penetration opportunity in India.

Why is the use of credit cards increasing in India?

Nevertheless, the use of credit cards in India has been steadily increasing in 2017 partly due to the demonetisation decision declared by the Indian government in November 2016. As a result, and because of the demonetisation, a large number of retailers have started to accept card payments.

Who are the major players in credit card market in India?

Major players operating in the country include HDFC Bank Ltd., SBI Cards, ICICI Bank Limited, Axis Bank Limited and Kotak, among others. What is covered in the report?

How much money do Indians spend on debit cards each month?

During the first months of 2021, the value of debit card transactions had been fluctuating between three and 3.5 trillion Indian rupees per month. Nevertheless, Indians seemed to use their debit cards primarily for smaller amounts.