Credit-card spends slide; Zomato’s stock hits a new low

Credit-card spends slide; Zomato’s stock hits a new low

author-image

Pratik Bhakta

122 reads
author-image

Madhav Chanchani

105 reads
author-image

Pratik Bhakta

122 reads
author-image

Madhav Chanchani

105 reads

The Crux newsletter this week. There are more credit card users in India than ever before. But why is the transaction value not going up? Plus, Zomato’s shares fall below the IPO price again in three months. What happens now?

April 29, 2022

5 Min Read

The Indian credit card industry has never been this bullish before. Private banks are scaling up their card business, fintechs are looking for a way in and consumer-focused apps are trying to form partnerships for co-branded plastic. 

In terms of the number of credit cards, the market has hit a new peak: over 7 crore. And the transactions? Uh, that’s a different story.

State of swipe: The per transaction spend per card in the country is about Rs 4,500, according to RBI’s latest data. It’s a marginal increase from around Rs 3,800 in May last year. 

This means that while there are more credit cards now, the transaction amount is not growing significantly. SBI Card, a listed credit-card major, reported an average ticket size of Rs 9,166 per month for the last financial year, down from Rs 11,583 and Rs 11,833 in the preceding two years. 

Read this article for free

Sign in using

Or

Sign in using your email

Don't have an account?

Forgot Password?

By signing up for The CapTable you agree to the

Terms of Service

and

Privacy Policy

of the platform.

Smart Information, Better Decisions

We report on the latest and most important developments in India’s biggest tech companies and disruptive startups so you can make better decisions.

Inside View with Org Charts

Know the key decision-makers with Org Charts. We thrive on decoding boardroom conversations so we can bring you a 360° view of what's happening at India's high-growth companies.

Seasoned Team

Tracking the highs and lows of India’s biggest internet companies over the past decade has given us access to the right decision-makers to interpret the latest state of play.

Inside View

We thrive on inside scoops and decoding boardroom conversations so we can bring you a 360° view of what’s happening at India’s high-growth companies.

share-button
like-button
share-button

LatestStories

IPO

the-crux

Delhivery’s IPO gambit pays off (kinda); Coinbase-RBI spat

By Madhav Chanchani

Investments

Premium Reads

From unicorns to early-stage startups, everyone is downsizing ambitions

By Aditi Shrivastava

HealthTech

Premium Reads

Decoding insurtechs’ big bet on wellness

By Supriya Roy

Logistics

Premium Reads

Impending divorce: How Shiprocket’s relationship with delivery partners imploded overnight

By Payal Ganguly

SaaS

org-charts

How Freshworks tapped Silicon Valley veterans ahead of IPO

By Supriya Roy

For subscribers only

Premium Reads

>>

View More >>

Deeply reported and objective news on the country´s fastest-growing companies and the people behind them.