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India had 57.3M credit cards, 845.4M debit cards in June 2020

In June 2020, the number of debit cards stood at 845.4 million, increasing by 10.1 million cards over May 2020. A total of 57.3 million credit cards were in operation, adding 109,134 cardholders over May 2020, according to data from the Reserve Bank of India. Between July 2019 and June 2020, India added some 7.6 million credit cards and over 33.5 million debit cards. The number of transactions done using credit cards at PoS terminals (or swipe machines) declined by 23.3% YoY. This number decreased by 25.8% YoY for debit cards in June 2020. The total number of Point of Sale (PoS) transactions done via credit cards was 125.2 million, while the figure for debit cards was 302.1 million.   Total amount transacted through credit cards at PoS terminals — Rs 42,818 crore in June 2020 — decreased by 24.8%…

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