Debit Cards in India

February 2024
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Overview:

Understand the latest market trends and future growth opportunities for the Debit Card Transactions industry in India with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.

Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.

If you're in the Debit Card Transactions industry in India, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.

The Debit Card Transactions in India report includes:

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

This report answers:

  • What is the market size of Debit Card Transactions in India?
  • What are the major trends key to understanding Debit Card Transactions in India?
  • How has COVID-19, recession and macroeconomic volatility impacted the market?
  • How long will the market take to recover? What are the opportunities now?
  • How will political context and shifting cultural values shape future growth?
  • Where is future growth expected to be most dynamic?
Download Table of Contents

Charge Cards in India - Category analysis

Charge Cards in India - Company Profile

KEY DATA FINDINGS

Charge cards remain a niche, targeting affluent consumers
Transaction spend on charge cards remains elevated in comparison to other financial cards
American Express is the sole local issuer and operator of charge cards in India
Charge cards will remain a small part of financial cards in the Indian market
Rising penetration of credit cards to challenge greater uptake of charge cards
American Express eyes further opportunities for growth of charge cards
Table 1 Charge Cards: Number of Cards in Circulation 2018-2023
Table 2 Charge Cards Transactions 2018-2023
Table 3 Charge Cards in Circulation: % Growth 2018-2023
Table 4 Charge Cards Transactions: % Growth 2018-2023
Table 5 Personal Charge Cards: Number of Cards in Circulation 2018-2023
Table 6 Personal Charge Cards Transactions 2018-2023
Table 7 Personal Charge Cards in Circulation: % Growth 2018-2023
Table 8 Personal Charge Cards Transactions: % Growth 2018-2023
Table 9 Charge Cards: Number of Cards by Issuer 2018-2022
Table 10 Charge Cards: Number of Cards by Operator 2018-2022
Table 11 Charge Cards Payment Transaction Value by Issuer 2018-2022
Table 12 Charge Cards Payment Transaction Value by Operator 2018-2022
Table 13 Personal Charge Cards: Number of Cards by Issuer 2018-2022
Table 14 Personal Charge Cards: Number of Cards by Operator 2018-2022
Table 15 Personal Charge Cards Transaction Value by Issuer 2018-2022
Table 16 Personal Charge Cards Transaction Value by Operator 2018-2022
Table 17 Forecast Charge Cards: Number of Cards in Circulation 2023-2028
Table 18 Forecast Charge Cards Transactions 2023-2028
Table 19 Forecast Charge Cards in Circulation: % Growth 2023-2028
Table 20 Forecast Charge Cards Transactions: % Growth 2023-2028
Table 21 Forecast Personal Charge Cards: Number of Cards in Circulation 2023-2028
Table 22 Forecast Personal Charge Cards Transactions 2023-2028
Table 23 Forecast Personal Charge Cards in Circulation: % Growth 2023-2028
Table 24 Forecast Personal Charge Cards Transactions: % Growth 2023-2028

Credit Cards in India - Category analysis

Credit Cards in India - Company Profile

KEY DATA FINDINGS

Credit card transactions post brisk growth as consumers resort to smart spending
Co-branded credit cards, driven by targeted benefits for consumers, gain further prominence in 2023
Competition intensifies with relative new entrant banks increasing their credit card portfolios
Regulatory revisions for card operators and easier access to credit via UPI set to influence credit card competitive landscape
Credit cards face bright future as issuers encourage uptake
Government financial inclusion initiative combined with significant underserved banking population offers growth potential for credit cards
Table 25 Credit Cards: Number of Cards in Circulation 2018-2023
Table 26 Credit Cards Transactions 2018-2023
Table 27 Credit Cards in Circulation: % Growth 2018-2023
Table 28 Credit Cards Transactions: % Growth 2018-2023
Table 29 Commercial Credit Cards: Number of Cards in Circulation 2018-2023
Table 30 Commercial Credit Cards Transactions 2018-2023
Table 31 Commercial Credit Cards in Circulation: % Growth 2018-2023
Table 32 Commercial Credit Cards Transactions: % Growth 2018-2023
Table 33 Personal Credit Cards: Number of Cards in Circulation 2018-2023
Table 34 Personal Credit Cards Transactions 2018-2023
Table 35 Personal Credit Cards in Circulation: % Growth 2018-2023
Table 36 Personal Credit Cards Transactions: % Growth 2018-2023
Table 37 Credit Cards: Number of Cards by Issuer 2018-2022
Table 38 Credit Cards: Number of Cards by Operator 2018-2022
Table 39 Credit Cards Payment Transaction Value by Issuer 2018-2022
Table 40 Credit Cards Payment Transaction Value by Operator 2018-2022
Table 41 Commercial Credit Cards: Number of Cards by Issuer 2018-2022
Table 42 Commercial Credit Cards: Number of Cards by Operator 2018-2022
Table 43 Commercial Credit Cards Payment Transaction Value by Issuer 2018-2022
Table 44 Commercial Credit Cards Payment Transaction Value by Operator 2018-2022
Table 45 Personal Credit Cards: Number of Cards by Issuer 2018-2022
Table 46 Personal Credit Cards: Number of Cards by Operator 2018-2022
Table 47 Personal Credit Cards Payment Transaction Value by Issuer 2018-2022
Table 48 Personal Credit Cards Payment Transaction Value by Operator 2018-2022
Table 49 Forecast Credit Cards: Number of Cards in Circulation 2023-2028
Table 50 Forecast Credit Cards Transactions 2023-2028
Table 51 Forecast Credit Cards in Circulation: % Growth 2023-2028
Table 52 Forecast Credit Cards Transactions: % Growth 2023-2028
Table 53 Forecast Commercial Credit Cards: Number of Cards in Circulation 2023-2028
Table 54 Forecast Commercial Credit Cards Transactions 2023-2028
Table 55 Forecast Commercial Credit Cards in Circulation: % Growth 2023-2028
Table 56 Forecast Commercial Credit Cards Transactions: % Growth 2023-2028
Table 57 Forecast Personal Credit Cards: Number of Cards in Circulation 2023-2028
Table 58 Forecast Personal Credit Cards Transactions 2023-2028
Table 59 Forecast Personal Credit Cards in Circulation: % Growth 2023-2028
Table 60 Forecast Personal Credit Cards Transactions: % Growth 2023-2028

Debit Cards in India - Category analysis

Debit Cards in India - Company Profile

KEY DATA FINDINGS

Financial inclusion initiatives further drive debit card penetration
Average spend per debit card declines in 2023
Local RuPay leads and competes strongly with international card operators
Increasing numbers of Indians will access debit cards, while contactless card payments will grow
Rapid adoption of personal electronic direct transactions and shift towards online purchases to create long-term competition for debit cards
Regulatory changes set to intensify competitive landscape of card operators
Table 61 Debit Cards: Number of Cards in Circulation 2018-2023
Table 62 Debit Cards Transactions 2018-2023
Table 63 Debit Cards in Circulation: % Growth 2018-2023
Table 64 Debit Cards Transactions: % Growth 2018-2023
Table 65 Debit Cards: Number of Cards by Issuer 2018-2022
Table 66 Debit Cards: Number of Cards by Operator 2018-2022
Table 67 Debit Cards Payment Transaction Value by Issuer 2018-2022
Table 68 Debit Cards Payment Transaction Value by Operator 2018-2022
Table 69 Forecast Debit Cards: Number of Cards in Circulation 2023-2028
Table 70 Forecast Debit Cards Transactions 2023-2028
Table 71 Forecast Debit Cards in Circulation: % Growth 2023-2028
Table 72 Forecast Debit Cards Transactions: % Growth 2023-2028

Pre-Paid Cards in India - Category analysis

Pre-Paid Cards in India - Company Profile

KEY DATA FINDINGS

Slowdown in pre-paid card transactions due to rising competition from alternative products and full effect of regulatory revisions
Benefits of transportation cards drive uptake of closed loop pre-paid cards
Surge in outbound tourism fosters rise in demand for open loop travel cards
Flexibility of open loop pre-paid cards offers greater potential over forecast period
Rapid adoption of alternative options creates challenge for future of pre-paid cards
Public transport holds the key to bolstering demand for closed loop pre-paid cards
Table 73 Pre-paid Cards: Number of Cards in Circulation 2018-2023
Table 74 Pre-paid Cards Transactions 2018-2023
Table 75 Pre-paid Cards in Circulation: % Growth 2018-2023
Table 76 Pre-paid Cards Transactions: % Growth 2018-2023
Table 77 Closed Loop Pre-paid Cards Transactions 2018-2023
Table 78 Closed Loop Pre-paid Cards Transactions: % Growth 2018-2023
Table 79 Open Loop Pre-paid Cards Transactions 2018-2023
Table 80 Open Loop Pre-paid Cards Transactions: % Growth 2018-2023
Table 81 Pre-paid Cards: Number of Cards by Issuer 2018-2022
Table 82 Pre-paid Cards: Number of Cards by Operator 2018-2022
Table 83 Pre-paid Cards Transaction Value by Issuer 2018-2022
Table 84 Pre-paid Cards Transaction Value by Operator 2018-2022
Table 85 Closed Loop Pre-paid Cards: Number of Cards by Issuer 2018-2022
Table 86 Closed Loop Pre-paid Cards: Number of Cards by Operator 2018-2022
Table 87 Closed Loop Pre-paid Cards Transaction Value by Issuer 2018-2022
Table 88 Closed Loop Pre-paid Cards Transaction Value by Operator 2018-2022
Table 89 Open Loop Pre-paid Cards: Number of Cards by Issuer 2018-2022
Table 90 Open Loop Pre-paid Cards: Number of Cards by Operator 2018-2022
Table 91 Open Loop Pre-paid Cards Transaction Value by Issuer 2018-2022
Table 92 Open Loop Pre-paid Cards Transaction Value by Operator 2018-2022
Table 93 Forecast Pre-paid Cards: Number of Cards in Circulation 2023-2028
Table 94 Forecast Pre-paid Cards Transactions 2023-2028
Table 95 Forecast Pre-paid Cards in Circulation: % Growth 2023-2028
Table 96 Forecast Pre-paid Cards Transactions: % Growth 2023-2028
Table 97 Forecast Closed Loop Pre-paid Cards Transactions 2023-2028
Table 98 Forecast Closed Loop Pre-paid Cards Transactions: % Growth 2023-2028
Table 99 Forecast Open Loop Pre-paid Cards Transactions 2023-2028
Table 100 Forecast Open Loop Pre-paid Cards Transactions: % Growth 2023-2028

Financial Cards and Payments in India - Industry Overview

Financial cards and payments in 2023: The big picture
2023 key trends
Financial card issuers leverage co-branded credit cards to address increasing competition from digital payment providers
Competitive landscape
What next for financial cards and payments?
Table 101 Number of POS Terminals: Units 2018-2023
Table 102 Number of ATMs: Units 2018-2023
Table 103 Value Lost to Fraud 2018-2023
Table 104 Card Expenditure by Location 2023
Table 105 Financial Cards in Circulation by Type: % Number of Cards 2018-2023
Table 106 Domestic versus Foreign Spend 2023
Table 107 Financial Cards by Category: Number of Cards in Circulation 2018-2023
Table 108 Financial Cards by Category: Number of Accounts 2018-2023
Table 109 Financial Cards Transactions by Category: Value 2018-2023
Table 110 Financial Cards by Category: Number of Transactions 2018-2023
Table 111 Consumer Payments by Category: Value 2018-2023
Table 112 Consumer Payments by Category: Number of Transactions 2018-2023
Table 113 M-Commerce by Category: Value 2018-2023
Table 114 M-Commerce by Category: % Value Growth 2018-2023
Table 115 Financial Cards: Number of Cards by Issuer 2018-2022
Table 116 Financial Cards: Number of Cards by Operator 2018-2022
Table 117 Financial Cards: Card Payment Transactions Value by Operator 2018-2022
Table 118 Financial Cards: Card Payment Transactions Value by Issuer 2018-2022
Table 119 Forecast Financial Cards by Category: Number of Cards in Circulation 2023-2028
Table 120 Forecast Financial Cards by Category: Number of Accounts 2023-2028
Table 121 Forecast Financial Cards Transactions by Category: Value 2023-2028
Table 122 Forecast Financial Cards by Category: Number of Transactions 2023-2028
Table 123 Forecast Consumer Payments by Category: Value 2023-2028
Table 124 Forecast Consumer Payments by Category: Number of Transactions 2023-2028
Table 125 Forecast M-Commerce by Category: Value 2023-2028
Table 126 Forecast M-Commerce by Category: % Value Growth 2023-2028

DISCLAIMER

Summary 1 Research Sources
The following categories and subcategories are included:

Debit Card Transactions

  • Commercial Debit Card Transactions
  • Personal Debit Card Transactions

Debit Card Transactions

Debit cards merge the functionality of both an ATM card and direct payment from a bank account (a check substitute in some markets). A debit card allows the cardholder to receive cash and monitor account activity at an ATM machine, as well as pay for goods and services via a point-of-sale terminal. A debit card payment transaction involves the automatic withdrawal of funds from the cardholder’s demand deposit bank account (checking or giro). Since the funds are removed from a bank account, no interest is charged on payments. Payments are tracked based on the country of residence / account issuance and include outbound spend while excluding inbound spend.

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