Market research & Consulting- NewAge

  The rising ease of availing Credit Cards, growing preference for digital transactions, increasing security, and surging focus on digital India initiatives by the Government of India are influencing the demand for Credit Card market in India.  According to the TechSci Research report,  “ India Credit Card Market – By Region, Industry Size, Share, Trends, Competition, Opportunities and Forecast, 2018-2028F,”  The Indian credit card market has tremendously seen a major boost in the demand for credit cards in recent years. The Important Factors of the India Credit Card Market This is due to the rising awareness about credit cards, increasing co-branded card offerings, the rising spending power of millennials and Gen Z, and the gradual shifting of people towards cashless transactions. An electronic card known as a credit card is given to users and cardholders by a bank or any other financial institution so they can make purchases of goods and services, both online ...

  Rising use of credit card for large purchases along with the growing trend of e-commerce shopping to drive India credit card market through 2025.  According to TechSci Research report,  “ India Credit Card Market By Type, By Service Providing Company, By Credit Score, By Credit Limit, By Card Type, By Benefits, By Region, Competition, Forecast & Opportunities, 2025 ”,  credit card user base in India reached 47 million in 2019 and is poised to grow at a brisk rate during the forecast period as well. Important Elements of the India Credit Card Market The increasing availability of POS devices at stores and digital push by the government in the form of campaigns such as digital India is further positively influencing the market. Additionally, owing to the increasing usage of credit cards in the country, financial institutions are introducing new options and expanding their credit card portfolio. Moreover, growth in the market can also be attributed to the fac...