In April 2020, the number of debit cards stood at 829.4 million, an increase of 800,000 cards over March 2020. At the same time, a total of 57.4 million credit cards were in operation, losing 300,000 cardholders over March 2020, according to the Reserve Bank of India. Between May 2019 and April 2020, India added some 9.4 million credit cards and lost over 30.9 million debit cards. The number of transactions done using credit cards at PoS terminals (or swipe machines) declined by 53.8% YoY, while it decreased by 48.9% YoY for debit cards for the 12-month period ending April 2020. In April 2020, the total number of PoS transactions through credit cards was 77.1 million, while the figure for debit cards was 208.3 million. Total amount transacted through credit cards at PoS terminals — which was Rs 20,858…
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