Are Indians swiping less? Credit card story has grown bigger, user base hasn’t

Jul 8, 2026 - 17:30
Are Indians swiping less? Credit card story has grown bigger, user base hasn’t

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India's credit card market has grown significantly over the past decade. However, credit card penetration remains low compared to global benchmarks. Younger consumers and semi-urban areas now show increased credit card ownership. Credit cards now face competition from digital payment methods like UPI. Portfolio quality has improved after pandemic-related challenges.

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