Apart from a surge in cardholders, the data revealed that transaction amounts across several Point of Sale terminals also increased over the past few months. In May 2021, the number of debit cards stood at 902.3 million and rose to 1.5 million debit cards over April 2021. A total of 62.4 million credit cards were in operation, which increased to 133,014 cardholders over April 2021, according to data from the Reserve Bank of India. Between June 2020 and May 2021, India added around 5.2 million credit cards and over 67 million debit cards. The number of transactions done using credit cards at PoS terminals (or swipe machines) grew by 30.8% year-over-year (YoY). This number decreased by 1.4% YoY for debit cards in May 2021. The total number of Point of Sale (PoS) transactions done via credit cards was 134.9 million, while the figure for debit cards was 264.7 million. The total amount transacted through credit cards at PoS terminals — Rs 54,846 crore in May 2021— increased by 70% in the 12-month period from May 2020. The amount transacted using PoS terminals through debit cards went up by 16% during the same time. In May 2021, Rs 43,683 crore was transacted through debit cards at PoS terminals. In May 2021, credit card transaction amounts were higher than debit card transaction amounts. As indicated by the chart above, the amount transacted using debit cards had surpassed the amount transacted using credit cards in January 2021. The total amount transacted through credit…
- Video: Maharashtra may soon have regulations for Ola, Uber June 6, 2023
- Bombay HC Directs Netizens To Remove ‘Defamatory’ Posts on Adar Poonawalla and The Serum Institute June 6, 2023
- US Securities regulator charges Binance and its founder with 13 counts of security violations June 6, 2023
- Summary: Petition in Supreme Court against prolonged internet shutdown in Manipur June 6, 2023
- Access providers must create a unified consent seeking platform: Telecom Regulatory Authority of India June 5, 2023
MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.
Is it safe to consider all "publicly available data" as public?
PhonePe launched an e-commerce buyer app for ONDC called Pincode. We, however, believe that it should also launch a seller app.
Amazon announced that it will integrate its logistics network and SmartCommerce services with the Open Network for Digital Commerce (ONDC).
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
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...
Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...