Credit-card spends top Rs 1.3 lakh crore in India


Pratik Bhakta

192 reads

Pratik Bhakta

192 reads

RBI data confirms a surprising shift among Indian consumers: credit-card use is up, consistently outperforming debit cards. How are banks and fintechs pulling this off?

December 16, 2022


Debit cards, once the darling of Indian consumers, have slipped down the payments order, looking increasingly like the unlucky middle child. Their credit siblings are outperforming them in a surprising shift in a post-Covid market.

Banks are pushing more credit cards than ever before, and fintech startups involved in distribution are also helping popularise the mode, typically used for large purchases. The October transaction data for the past three years, as shared by the Reserve Bank of India, shows the upward trajectory.

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