A government-led financial inclusion initiative is enticing a burgeoning population to embrace the formal banking sector, which is acting in favour of further driving debit card penetration. The government’s financial inclusion initiative, also known as Pradhan Mantri Jan Dhan Yojana, helped to attract a wider audience in 2023 as bank customers and the issuance of debit cards upon opening bank accounts became a crucial catalyst for significant volume growth observed in the number of debit cards...
Euromonitor International's Debit Card Transactions in India report establishes the size and structure of the market for ATMs cards, smart cards, credit cards, debit cards, charge cards, pre-paid cards and store cards. It looks at key players in the market (issuers and operators), number of cards in circulation, numbers transactions and value of transactions. It offers strategic analysis of sector forecasts and trends to watch.
Product coverage: Commercial Debit Card Transactions, Personal Debit Card Transactions.
Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.
Why buy this report? * Get a detailed picture of the Debit Card Transactions market; * Pinpoint growth sectors and identify factors driving change; * Understand the competitive environment, the market’s major players and leading brands; * Use five-year forecasts to assess how the market is predicted to develop.
Debit Cards in India
Euromonitor International
February 2024
List Of Contents And Tables
DEBIT CARDS IN INDIA
KEY DATA FINDINGS
2023 DEVELOPMENTS
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
PROSPECTS AND OPPORTUNITIES
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
CATEGORY DATA
Table 1 Debit Cards: Number of Cards in Circulation 2018-2023
Table 2 Debit Cards Transactions 2018-2023
Table 3 Debit Cards in Circulation: % Growth 2018-2023