In November 2019, the number of debit cards stood at 830.8 million, a decline of 12.86 million cards over October 2019. At the same time, a total of 54.4 million credit cards were in operation, with 1 million cards added over October 2019, according to the Reserve Bank of India. Between November 2018 and November 2019, India added some 11.2 million credit cards and lost over 161.8 million debit cards. The number of transactions done using credit cards at PoS terminals (or swipe machines) grew by 25% YoY, while it increased by 12.5% YoY for debit cards for the 12-month period ending November 2019. In November 2019, the total number of PoS transactions through credit cards was 182.5 million, while the figure for debit cards was 423.6 million. Total amount transacted through credit cards at PoS terminals — which was Rs 60,130 crore in November 2019 — increased by 16.5% in the 12-month period ending November 2019. The amount transacted using PoS terminals through debit cards went up by 6.6% during the same time. In November 2019, Rs 57,590 crore was transacted through debit cards at PoS terminals. In November 2019, credit card transaction amounts were higher than those of the debit card transaction amounts. Note that in the chart above, the amount transacted using debit cards had surpassed amount transacted using credit cards in November 2016. January 2018 onward, the amount transacted via credit cards and debit cards were nearly the same. The total amount transacted through credit cards…
- MediaNama Daily: It’s not you, it’s your data January 28, 2023
- Why is Google not fully complying with India’s orders, MapmyIndia CEO asks January 27, 2023
- Unique Identification Authority of India working on age verification through e-KYC January 27, 2023
- Views: Why India’s “indigenous” smartphone operating system BharOS is overhyped January 27, 2023
- Here’s why Twitter employees’ access to its ‘God Mode’ function is a problem January 27, 2023
MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.
India's smartphone operating system BharOS has received much buzz in the media lately, but does it really merit this attention?
After using the Mapples app as his default navigation app for a week, Sarvesh draws a comparison between Google Maps and Mapples
The regulatory ambivalence around an instrument so essential to facilitate data exchange – the CM framework – is disconcerting for several reasons.
The provisions around grievance redressal in the Data Protection Bill "stands to be dangerously sparse and nugatory on various counts."
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...
135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...
Twitter takes down tweets from MP, MLA, editor criticising handling of pandemic upon government request
By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...