The number of credit and debit cards in India is steadily rising but Indians still prefer debit cards over credit cards. In July 2016, a total of 25.94 million credit cards and 697.22 million debit cards were in operation, according to the Reserve Bank of India.


Between July 2015 and July 2016, India added some 0.40 million credit cards and added 6.08 million debit cards. While the number of cards is increasing slowly, people are gradually becoming more comfortable in using them as well, and there’s an increase in their usage.


1. Number of transactions on credit cards grew by 22.6% while it rose by 36% for debit cards for the year ending July 2016. In July, total number of transactions through credit cards were 79.44 million while the figure for debit cards was 129.07 million.


2. Average amount transacted per transaction on credit cards — which is an indication of how much amount people are willing to spend in one transaction — increased marginally by 1.22% between July 2015 and July 2016. For debit cards, it declined by 10.2% during the same time period.


3. Total amount transacted through credit cards — which was Rs 24341 crore in July 2016 — increased by 24% in the one year period ending July 2016. Amount transacted through debit cards increased by 22% during the same time. In July 2016, Rs 17092 crore were transacted through debit cards.


4. Total amount transacted through credit cards went up by Rs 386 crore in July 2016 while amount transacted through debit cards grew by Rs 1591 crore.