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% in the 12-month period ending June 2020. The amount transacted using PoS terminals through debit cards went down by 17.2% during the same time. In June 2020, Rs 47,255 crore was transacted through debit cards at PoS terminals.

In June 2020, debit card transaction amounts were higher than those of the credit card transaction amounts. Note that in the chart above, the amount transacted using debit cards had surpassed amount transacted using credit cards in April 2020.

The total amount transacted through credit cards at PoS terminals grew by Rs 10,547 crore in June 2020, while the amount transacted through debit cards increased by Rs 9,634 crore.

At PoS terminals, the average amount transacted per transaction using credit cards — an indication of how much people are willing to spend in one transaction — decreased 2% between July 2019 and June 2020. For debit cards, it grew 11.7% during the same period.