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Credit Card Transactions in
India

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Executive Summary

Nov 2018
PROSPECTS
Credit cards in circulation rise following years of slowdown

Credit card issuance fell sharply in the early years of the current decade, as banks tightened regulations to address rising defaults. However, from 2016 the number of credit cards issued picked up, as more banks tried to improve card penetration amongst the younger generation.

Credit card transactions post brisk growth as cashless payments expand

Credit card POS transactions increased steadily over the last few years, in keeping with the government’s objective of promoting cashless payments. The installation of larger numbers of POS terminals at merchant locations and the higher number of cards in circulation, especially amongst urban residents, aided the growth of credit card transactions.

Forecast period trends

The trend of increasing numbers of credit cards in circulation is expected to continue over the forecast period. This will be helped by schemes such as the payment of outstanding dues in equated monthly instalments (EMIs), and additional facilities, such as access to premium services at hotels and airlines, including lounge access.

COMPETITIVE LANDSCAPE
HDFC Bank is the leading issuer of credit cards

HDFC Bank accounted for the highest share in terms of both credit cards in circulation and transaction value in 2017. Over the years, the largest private bank has attained the leading position in credit cards by launching a variety of cards with lucrative offers, including lounge services, dining offers at major restaurants and shopping offers at various high-end stores.

Co-branded cards

HDFC Bank has entered the co-branded credit cards space by launching a card with online retailer Snapdeal, targeting younger consumers, who frequently shop online. Other prestigious co-branded credit cards include JetPrivilege Platinum, in partnership with Jet Airways, and Maruti Suzuki Nexa Card, with exclusive benefits for owners of Nexa cars.

Visa and Mastercard are the dominant credit card operators

Visa and Mastercard have been the dominant credit card operators in India for many years. The largest banks in India have entered into deals with these operators, enabling expansion in the coverage of Visa- and Mastercard-operated products.

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Credit Cards in India

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Overview

Discover the latest market trends and uncover sources of future market growth for the Credit Card Transactions industry in India with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Credit Card Transactions industry in India, our research will save you time and money while empowering you to make informed, profitable decisions.

The Credit Card Transactions in India market research report includes:

  • Analysis of key supply-side and demand trends
  • Detailed segmentation of international and local products
  • Historic volumes and values, company and brand market shares
  • Five year forecasts of market trends and market growth
  • Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

  • What is the market size of Credit Card Transactions in India?
  • What are the major operators and issuers in India?
  • What is the current state and expected evolution of consumer payment preference?
  • What payment instrument offers the highest growth potential?
  • What strategies and positioning have consumer finance companies utilized to win in the market?
Why buy this report?
  • Gain competitive intelligence about market leaders
  • Track key industry trends, opportunities and threats
  • Inform your marketing, brand, strategy and market development, sales and supply functions

Euromonitor’s industry reports, including Credit Card Transactions in India, originate from our database within our Consumer Finance market share and market size database

Charge Cards in India - Category analysis

Charge Cards in India - Company Profile

HEADLINES

PROSPECTS

Charge cards will remain a small part of financial cards in the Indian market

COMPETITIVE LANDSCAPE

American Express is the only bank issuing charge cards

CATEGORY DATA

Table 1 Charge Cards: Number of Cards in Circulation 2013-2018
Table 2 Charge Cards Transactions 2013-2018
Table 3 Charge Cards in Circulation: % Growth 2013-2018
Table 4 Charge Cards Transactions: % Growth 2013-2018
Table 5 Personal Charge Cards: Number of Cards in Circulation 2013-2018
Table 6 Personal Charge Cards Transactions 2013-2018
Table 7 Personal Charge Cards in Circulation: % Growth 2013-2018
Table 8 Personal Charge Cards Transactions: % Growth 2013-2018
Table 9 Charge Cards: Number of Cards by Issuer 2013-2017
Table 10 Charge Cards: Number of Cards by Operator 2013-2017
Table 11 Charge Cards Payment Transaction Value by Issuer 2013-2017
Table 12 Charge Cards Payment Transaction Value by Operator 2013-2017
Table 13 Personal Charge Cards: Number of Cards by Issuer 2013-2017
Table 14 Personal Charge Cards: Number of Cards by Operator 2013-2017
Table 15 Personal Charge Cards Transaction Value by Issuer 2013-2017
Table 16 Personal Charge Cards Transaction Value by Operator 2013-2017
Table 17 Forecast Charge Cards: Number of Cards in Circulation 2018-2023
Table 18 Forecast Charge Cards Transactions 2018-2023
Table 19 Forecast Charge Cards in Circulation: % Growth 2018-2023
Table 20 Forecast Charge Cards Transactions: % Growth 2018-2023
Table 21 Forecast Personal Charge Cards: Number of Cards in Circulation 2018-2023
Table 22 Forecast Personal Charge Cards Transactions 2018-2023
Table 23 Forecast Personal Charge Cards in Circulation: % Growth 2018-2023
Table 24 Forecast Personal Charge Cards Transactions: % Growth 2018-2023

Credit Cards in India - Category analysis

Credit Cards in India - Company Profile

HEADLINES

PROSPECTS

Credit cards in circulation rise following years of slowdown
Credit card transactions post brisk growth as cashless payments expand
Forecast period trends

COMPETITIVE LANDSCAPE

HDFC Bank is the leading issuer of credit cards
Co-branded cards
Visa and Mastercard are the dominant credit card operators

CATEGORY DATA

Table 25 Credit Cards: Number of Cards in Circulation 2013-2018
Table 26 Credit Cards Transactions 2013-2018
Table 27 Credit Cards in Circulation: % Growth 2013-2018
Table 28 Credit Cards Transactions: % Growth 2013-2018
Table 29 Commercial Credit Cards: Number of Cards in Circulation 2013-2018
Table 30 Commercial Credit Cards Transactions 2013-2018
Table 31 Commercial Credit Cards in Circulation: % Growth 2013-2018
Table 32 Commercial Credit Cards Transactions: % Growth 2013-2018
Table 33 Personal Credit Cards: Number of Cards in Circulation 2013-2018
Table 34 Personal Credit Cards Transactions 2013-2018
Table 35 Personal Credit Cards in Circulation: % Growth 2013-2018
Table 36 Personal Credit Cards Transactions: % Growth 2013-2018
Table 37 Credit Cards: Number of Cards by Issuer 2013-2017
Table 38 Credit Cards: Number of Cards by Operator 2013-2017
Table 39 Credit Cards Payment Transaction Value by Issuer 2013-2017
Table 40 Credit Cards Payment Transaction Value by Operator 2013-2017
Table 41 Commercial Credit Cards: Number of Cards by Issuer 2013-2017
Table 42 Commercial Credit Cards: Number of Cards by Operator 2013-2017
Table 43 Commercial Credit Cards Payment Transaction Value by Issuer 2013-2017
Table 44 Commercial Credit Cards Payment Transaction Value by Operator 2013-2017
Table 45 Personal Credit Cards: Number of Cards by Issuer 2013-2017
Table 46 Personal Credit Cards: Number of Cards by Operator 2013-2017
Table 47 Personal Credit Cards Payment Transaction Value by Issuer 2013-2017
Table 48 Personal Credit Cards Payment Transaction Value by Operator 2013-2017
Table 49 Forecast Credit Cards: Number of Cards in Circulation 2018-2023
Table 50 Forecast Credit Cards Transactions 2018-2023
Table 51 Forecast Credit Cards in Circulation: % Growth 2018-2023
Table 52 Forecast Credit Cards Transactions: % Growth 2018-2023
Table 53 Forecast Commercial Credit Cards: Number of Cards in Circulation 2018-2023
Table 54 Forecast Commercial Credit Cards Transactions 2018-2023
Table 55 Forecast Commercial Credit Cards in Circulation: % Growth 2018-2023
Table 56 Forecast Commercial Credit Cards Transactions: % Growth 2018-2023
Table 57 Forecast Personal Credit Cards: Number of Cards in Circulation 2018-2023
Table 58 Forecast Personal Credit Cards Transactions 2018-2023
Table 59 Forecast Personal Credit Cards in Circulation: % Growth 2018-2023
Table 60 Forecast Personal Credit Cards Transactions: % Growth 2018-2023

Debit Cards in India - Category analysis

Debit Cards in India - Company Profile

HEADLINES

PROSPECTS

Financial inclusion initiatives improve debit card penetration
POS transactions pick up amidst lower ATM withdrawals
Forecast period trends

COMPETITIVE LANDSCAPE

State Bank of India is the leading debit card issuer
Private banks are major players in debit card retail transactions
RuPay is the leading debit card operator

CATEGORY DATA

Table 61 Debit Cards: Number of Cards in Circulation 2013-2018
Table 62 Debit Cards Transactions 2013-2018
Table 63 Debit Cards in Circulation: % Growth 2013-2018
Table 64 Debit Cards Transactions: % Growth 2013-2018
Table 65 Debit Cards: Number of Cards by Issuer 2013-2017
Table 66 Debit Cards: Number of Cards by Operator 2013-2017
Table 67 Debit Cards Payment Transaction Value by Issuer 2013-2017
Table 68 Debit Cards Payment Transaction Value by Operator 2013-2017
Table 69 Forecast Debit Cards: Number of Cards in Circulation 2018-2023
Table 70 Forecast Debit Cards Transactions 2018-2023
Table 71 Forecast Debit Cards in Circulation: % Growth 2018-2023
Table 72 Forecast Debit Cards Transactions: % Growth 2018-2023

Pre-Paid Cards in India - Category analysis

Pre-Paid Cards in India - Company Profile

HEADLINES

PROSPECTS

Gift and transportation cards drive pre-paid card transactions
Developments in transportation pre-paid cards
Open loop pre-paid cards gain acceptance despite low transaction values

COMPETITIVE LANDSCAPE

ItzCash leads pre-paid cards
Banks issue a variety of open loop pre-paid cards

CATEGORY DATA

Table 73 Pre-paid Cards: Number of Cards in Circulation 2013-2018
Table 74 Pre-paid Cards Transactions 2013-2018
Table 75 Pre-paid Cards in Circulation: % Growth 2013-2018
Table 76 Pre-paid Cards Transactions: % Growth 2013-2018
Table 77 Closed Loop Pre-paid Cards Transactions 2013-2018
Table 78 Closed Loop Pre-paid Cards Transactions: % Growth 2013-2018
Table 79 Open Loop Pre-paid Cards Transactions 2013-2018
Table 80 Open Loop Pre-paid Cards Transactions: % Growth 2013-2018
Table 81 Pre-paid Cards: Number of Cards by Issuer 2013-2017
Table 82 Pre-paid Cards: Number of Cards by Operator 2013-2017
Table 83 Pre-paid Cards Transaction Value by Issuer 2013-2017
Table 84 Pre-paid Cards Transaction Value by Operator 2013-2017
Table 85 Closed Loop Pre-paid Cards: Number of Cards by Issuer 2013-2017
Table 86 Closed Loop Pre-paid Cards: Number of Cards by Operator 2013-2017
Table 87 Closed Loop Pre-paid Cards Transaction Value by Issuer 2013-2017
Table 88 Closed Loop Pre-paid Cards Transaction Value by Operator 2013-2017
Table 89 Open Loop Pre-paid Cards: Number of Cards by Issuer 2013-2017
Table 90 Open Loop Pre-paid Cards: Number of Cards by Operator 2013-2017
Table 91 Open Loop Pre-paid Cards Transaction Value by Issuer 2013-2017
Table 92 Open Loop Pre-paid Cards Transaction Value by Operator 2013-2017
Table 93 Forecast Pre-paid Cards: Number of Cards in Circulation 2018-2023
Table 94 Forecast Pre-paid Cards Transactions 2018-2023
Table 95 Forecast Pre-paid Cards in Circulation: % Growth 2018-2023
Table 96 Forecast Pre-paid Cards Transactions: % Growth 2018-2023
Table 97 Forecast Closed Loop Pre-paid Cards Transactions 2018-2023
Table 98 Forecast Closed Loop Pre-paid Cards Transactions: % Growth 2018-2023
Table 99 Forecast Open Loop Pre-paid Cards Transactions 2018-2023
Table 100 Forecast Open Loop Pre-paid Cards Transactions: % Growth 2018-2023

Store Cards in India - Category analysis

Store Cards in India - Company Profile

PROSPECTS

Financial Cards and Payments in India - Industry Overview

EXECUTIVE SUMMARY

Government initiatives drive card transactions and cashless payments
Cash payments decline due to the expansion of digital transactions
Pre-paid card offerings expand in keeping with the digital push
Home-grown RuPay is the largest card operator in terms of cards in circulation
Better card infrastructure and wider adoption are key to growth in financial cards

MARKET INDICATORS

Table 101 Number of POS Terminals: Units 2013-2018
Table 102 Number of ATMs: Units 2013-2018
Table 103 Value Lost to Fraud 2013-2018
Table 104 Card Expenditure by Location 2017
Table 105 Financial Cards in Circulation by Type: % Number of Cards 2013-2018
Table 106 Domestic versus Foreign Spend 2018

MARKET DATA

Table 107 Financial Cards by Category: Number of Cards in Circulation 2013-2018
Table 108 Financial Cards by Category: Number of Accounts 2013-2018
Table 109 Financial Cards Transactions by Category: Value 2013-2018
Table 110 Financial Cards by Category: Number of Transactions 2013-2018
Table 111 Consumer Payments by Category: Value 2013-2018
Table 112 Consumer Payments by Category: Number of Transactions 2013-2018
Table 113 M-Commerce by Category: Value 2013-2018
Table 114 M-Commerce by Category: % Value Growth 2013-2018
Table 115 Financial Cards: Number of Cards by Issuer 2013-2017
Table 116 Financial Cards: Number of Cards by Operator 2013-2017
Table 117 Financial Cards: Card Payment Transactions Value by Operator 2013-2017
Table 118 Financial Cards: Card Payment Transactions Value by Issuer 2013-2017
Table 119 Forecast Financial Cards by Category: Number of Cards in Circulation 2018-2023
Table 120 Forecast Financial Cards by Category: Number of Accounts 2018-2023
Table 121 Forecast Financial Cards Transactions by Category: Value 2018-2023
Table 122 Forecast Financial Cards by Category: Number of Transactions 2018-2023
Table 123 Forecast Consumer Payments by Category: Value 2018-2023
Table 124 Forecast Consumer Payments by Category: Number of Transactions 2018-2023
Table 125 Forecast M-Commerce by Category: Value 2018-2023
Table 126 Forecast M-Commerce by Category: % Value Growth 2018-2023

SOURCES

Summary 1 Research Sources