Financial Cards and Payments in India

Description

The Indian Government's national mission to achieve financial inclusion continued to bring more of the population into the formal banking structure in 2024, leading to greater awareness and the subsequent adoption of financial cards. The national financial inclusion mission, called Pradhan Mantri Jan Dhan Yojana (PMJDY), led to a further portion of the unbanked population becoming bank customers and the issuance of debit cards upon the opening of bank accounts by such customers became a crucial...

Euromonitor International's Financial Cards and Payments in India report establishes the size and structure of the market for ATMs cards, smart cards, credit cards, debit cards, charge cards, pre-paid cards and store cards. It looks at key players in the market (issuers and operators), number of cards in circulation, numbers transactions and value of transactions. It offers strategic analysis of sector forecasts and trends to watch.

Product coverage: Financial Cards in Circulation, Mobile Payments, Transactions.

Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.

Why buy this report?

Get a detailed picture of the Financial Cards and Payments market;
Pinpoint growth sectors and identify factors driving change;
Understand the competitive environment, the market's major players and leading brands;
Use five-year forecasts to assess how the market is predicted to develop.

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Product Code: FCIN

List Of Contents And Tables

EXECUTIVE SUMMARY

Financial cards and payments in 2024: The big picture
2024 key trends
Co-branded cards remain a focus to provide more tailored benefits
Competitive landscape
What next for financial cards and payments?

MARKET INDICATORS

Table 1 Number of POS Terminals: Units 2019-2024
Table 2 Number of ATMs: Units 2019-2024
Table 3 Value Lost to Fraud 2019-2024
Table 4 Card Expenditure by Location 2024
Table 5 Financial Cards in Circulation by Type: % Number of Cards 2019-2024
Table 6 Domestic versus Foreign Spend 2024

MARKET DATA

Table 7 Financial Cards by Category: Number of Cards in Circulation 2019-2024
Table 8 Financial Cards by Category: Number of Accounts 2019-2024
Table 9 Financial Cards Transactions by Category: Value 2019-2024
Table 10 Financial Cards by Category: Number of Transactions 2019-2024
Table 11 Consumer Payments by Category: Value 2019-2024
Table 12 Consumer Payments by Category: Number of Transactions 2019-2024
Table 13 M-Commerce by Category: Value 2019-2024
Table 14 M-Commerce by Category: % Value Growth 2019-2024
Table 15 Financial Cards: Number of Cards by Issuer 2019-2023
Table 16 Financial Cards: Number of Cards by Operator 2019-2023
Table 17 Financial Cards: Card Payment Transactions Value by Operator 2019-2023
Table 18 Financial Cards: Card Payment Transactions Value by Issuer 2019-2023
Table 19 Forecast Financial Cards by Category: Number of Cards in Circulation 2024-2029
Table 20 Forecast Financial Cards by Category: Number of Accounts 2024-2029
Table 21 Forecast Financial Cards Transactions by Category: Value 2024-2029
Table 22 Forecast Financial Cards by Category: Number of Transactions 2024-2029
Table 23 Forecast Consumer Payments by Category: Value 2024-2029
Table 24 Forecast Consumer Payments by Category: Number of Transactions 2024-2029
Table 25 Forecast M-Commerce by Category: Value 2024-2029
Table 26 Forecast M-Commerce by Category: % Value Growth 2024-2029

DISCLAIMER

SOURCES

Summary 1 Research Sources

DEBIT CARDS IN INDIA

KEY DATA FINDINGS

2024 DEVELOPMENTS

High penetration levels and growing competition from digital payments restrict growth
Evolving purchasing patterns impact instances of debit card usage
State Bank of India (SBI) leads through its extensive, with RuPay leading in operator space

PROSPECTS AND OPPORTUNITIES

Limited reward structure and value proposition set to impact value growth in forecast period
Issuers increasingly focusing on commercial segment to limit slowdown in transactions
Unbanked population to drive card issuance volume, whilst increasing consumer confidence in digital payments and shift towards online shopping to have an impact

CATEGORY DATA

Table 27 Debit Cards: Number of Cards in Circulation 2019-2024
Table 28 Debit Cards Transactions 2019-2024
Table 29 Debit Cards in Circulation: % Growth 2019-2024
Table 30 Debit Cards Transactions: % Growth 2019-2024
Table 31 Debit Cards: Number of Cards by Issuer 2019-2023
Table 32 Debit Cards: Number of Cards by Operator 2019-2023
Table 33 Debit Cards Payment Transaction Value by Issuer 2019-2023
Table 34 Debit Cards Payment Transaction Value by Operator 2019-2023
Table 35 Forecast Debit Cards: Number of Cards in Circulation 2024-2029
Table 36 Forecast Debit Cards Transactions 2024-2029
Table 37 Forecast Debit Cards in Circulation: % Growth 2024-2029
Table 38 Forecast Debit Cards Transactions: % Growth 2024-2029

CREDIT CARDS IN INDIA

KEY DATA FINDINGS

2024 DEVELOPMENTS

Sustained economic growth and lower credit card penetration level leads to significant growth
Income inequality and attractive demographic segment fuels credit card adoption
Online spending dominates credit card usage with market consolidated via major four banks

PROSPECTS AND OPPORTUNITIES

RBI's card portability regulation set to intensify competition within credit card operators
RBI and financial institutions focus on better long-tern allocation of credit through tighter regulations
Shift in channel preference, with issuance to those with low credit history to remain a challenge

CATEGORY DATA

Table 39 Credit Cards: Number of Cards in Circulation 2019-2024
Table 40 Credit Cards Transactions 2019-2024
Table 41 Credit Cards in Circulation: % Growth 2019-2024
Table 42 Credit Cards Transactions: % Growth 2019-2024
Table 43 Commercial Credit Cards: Number of Cards in Circulation 2019-2024
Table 44 Commercial Credit Cards Transactions 2019-2024
Table 45 Commercial Credit Cards in Circulation: % Growth 2019-2024
Table 46 Commercial Credit Cards Transactions: % Growth 2019-2024
Table 47 Personal Credit Cards: Number of Cards in Circulation 2019-2024
Table 48 Personal Credit Cards Transactions 2019-2024
Table 49 Personal Credit Cards in Circulation: % Growth 2019-2024
Table 50 Personal Credit Cards Transactions: % Growth 2019-2024
Table 51 Credit Cards: Number of Cards by Issuer 2019-2023
Table 52 Credit Cards: Number of Cards by Operator 2019-2023
Table 53 Credit Cards Payment Transaction Value by Issuer 2019-2023
Table 54 Credit Cards Payment Transaction Value by Operator 2019-2023
Table 55 Commercial Credit Cards: Number of Cards by Issuer 2019-2023
Table 56 Commercial Credit Cards: Number of Cards by Operator 2019-2023
Table 57 Commercial Credit Cards Payment Transaction Value by Issuer 2019-2023
Table 58 Commercial Credit Cards Payment Transaction Value by Operator 2019-2023
Table 59 Personal Credit Cards: Number of Cards by Issuer 2019-2023
Table 60 Personal Credit Cards: Number of Cards by Operator 2019-2023
Table 61 Personal Credit Cards Payment Transaction Value by Issuer 2019-2023
Table 62 Personal Credit Cards Payment Transaction Value by Operator 2019-2023
Table 63 Forecast Credit Cards: Number of Cards in Circulation 2024-2029
Table 64 Forecast Credit Cards Transactions 2024-2029
Table 65 Forecast Credit Cards in Circulation: % Growth 2024-2029
Table 66 Forecast Credit Cards Transactions: % Growth 2024-2029
Table 67 Forecast Commercial Credit Cards: Number of Cards in Circulation 2024-2029
Table 68 Forecast Commercial Credit Cards Transactions 2024-2029
Table 69 Forecast Commercial Credit Cards in Circulation: % Growth 2024-2029
Table 70 Forecast Commercial Credit Cards Transactions: % Growth 2024-2029
Table 71 Forecast Personal Credit Cards: Number of Cards in Circulation 2024-2029
Table 72 Forecast Personal Credit Cards Transactions 2024-2029
Table 73 Forecast Personal Credit Cards in Circulation: % Growth 2024-2029
Table 74 Forecast Personal Credit Cards Transactions: % Growth 2024-2029

CHARGE CARDS IN INDIA

KEY DATA FINDINGS

2024 DEVELOPMENTS

Stronger eligibility criteria continue to limit charge card demand
Merchant acceptance is relatively low, with average spend remaining high compared to other financial cards
American Express is the only charge cards issuer in India

PROSPECTS AND OPPORTUNITIES

Growth to remain subdued on the back of higher eligibility and lower consumer awareness
Credit cards seen as more viable credit instrument due to growing consumer financial literacy
Commercial charge cards offer opportunities through more tailored benefits

CATEGORY DATA

Table 103 Charge Cards: Number of Cards in Circulation 2019-2024
Table 104 Charge Cards Transactions 2019-2024
Table 105 Charge Cards in Circulation: % Growth 2019-2024
Table 106 Charge Cards Transactions: % Growth 2019-2024
Table 107 Personal Charge Cards: Number of Cards in Circulation 2019-2024
Table 108 Personal Charge Cards Transactions 2019-2024
Table 109 Personal Charge Cards in Circulation: % Growth 2019-2024
Table 110 Personal Charge Cards Transactions: % Growth 2019-2024
Table 111 Charge Cards: Number of Cards by Issuer 2019-2023
Table 112 Charge Cards: Number of Cards by Operator 2019-2023
Table 113 Charge Cards Payment Transaction Value by Issuer 2019-2023
Table 114 Charge Cards Payment Transaction Value by Operator 2019-2023
Table 115 Personal Charge Cards: Number of Cards by Issuer 2019-2023
Table 116 Personal Charge Cards: Number of Cards by Operator 2019-2023
Table 117 Personal Charge Cards Transaction Value by Issuer 2019-2023
Table 118 Personal Charge Cards Transaction Value by Operator 2019-2023
Table 119 Forecast Charge Cards: Number of Cards in Circulation 2024-2029
Table 120 Forecast Charge Cards Transactions 2024-2029
Table 121 Forecast Charge Cards in Circulation: % Growth 2024-2029
Table 122 Forecast Charge Cards Transactions: % Growth 2024-2029
Table 123 Forecast Personal Charge Cards: Number of Cards in Circulation 2024-2029
Table 124 Forecast Personal Charge Cards Transactions 2024-2029
Table 125 Forecast Personal Charge Cards in Circulation: % Growth 2024-2029
Table 126 Forecast Personal Charge Cards Transactions: % Growth 2024-2029

PRE-PAID CARDS IN INDIA

KEY DATA FINDINGS

2024 DEVELOPMENTS

Closed loop pre-paid cards benefit from growing demand for transportation cards
Enhanced security and fraud protection features provide boost, while low merchant acceptance level impacts open loop pre-paid cards
Demand for travel cards, driven by cost efficiency, benefits open loop pre-paid cards

PROSPECTS AND OPPORTUNITIES

Open loop pre-paid cards offer attractive opportunities
Slowdown in demand for gift cards and greater adoption of digital payment methods to create a challenge for pre-paid cards
Closed loop pre-paid cards growth to remain dependent on demand for public transportation

CATEGORY DATA

Table 75 Pre-paid Cards: Number of Cards in Circulation 2019-2024
Table 76 Pre-paid Cards Transactions 2019-2024
Table 77 Pre-paid Cards in Circulation: % Growth 2019-2024
Table 78 Pre-paid Cards Transactions: % Growth 2019-2024
Table 79 Closed Loop Pre-paid Cards Transactions 2019-2024
Table 80 Closed Loop Pre-paid Cards Transactions: % Growth 2019-2024
Table 81 Open Loop Pre-paid Cards Transactions 2019-2024
Table 82 Open Loop Pre-paid Cards Transactions: % Growth 2019-2024
Table 83 Pre-paid Cards: Number of Cards by Issuer 2019-2023
Table 84 Pre-paid Cards: Number of Cards by Operator 2019-2023
Table 85 Pre-paid Cards Transaction Value by Issuer 2019-2023
Table 86 Pre-paid Cards Transaction Value by Operator 2019-2023
Table 87 Closed Loop Pre-paid Cards: Number of Cards by Issuer 2019-2023
Table 88 Closed Loop Pre-paid Cards: Number of Cards by Operator 2019-2023
Table 89 Closed Loop Pre-paid Cards Transaction Value by Issuer 2019-2023
Table 90 Closed Loop Pre-paid Cards Transaction Value by Operator 2019-2023
Table 91 Open Loop Pre-paid Cards: Number of Cards by Issuer 2019-2023
Table 92 Open Loop Pre-paid Cards: Number of Cards by Operator 2019-2023
Table 93 Open Loop Pre-paid Cards Transaction Value by Issuer 2019-2023
Table 94 Open Loop Pre-paid Cards Transaction Value by Operator 2019-2023
Table 95 Forecast Pre-paid Cards: Number of Cards in Circulation 2024-2029
Table 96 Forecast Pre-paid Cards Transactions 2024-2029
Table 97 Forecast Pre-paid Cards in Circulation: % Growth 2024-2029
Table 98 Forecast Pre-paid Cards Transactions: % Growth 2024-2029
Table 99 Forecast Closed Loop Pre-paid Cards Transactions 2024-2029
Table 100 Forecast Closed Loop Pre-paid Cards Transactions: % Growth 2024-2029
Table 101 Forecast Open Loop Pre-paid Cards Transactions 2024-2029
Table 102 Forecast Open Loop Pre-paid Cards Transactions: % Growth 2024-2029

Financial Cards and Payments in India

Description

Table of Contents

Why buy this report?

TABLE OF CONTENTS

List Of Contents And Tables

EXECUTIVE SUMMARY

MARKET INDICATORS

MARKET DATA

DISCLAIMER

SOURCES

DEBIT CARDS IN INDIA

KEY DATA FINDINGS

2024 DEVELOPMENTS

PROSPECTS AND OPPORTUNITIES

CATEGORY DATA

CREDIT CARDS IN INDIA

KEY DATA FINDINGS

2024 DEVELOPMENTS

PROSPECTS AND OPPORTUNITIES

CATEGORY DATA

CHARGE CARDS IN INDIA

KEY DATA FINDINGS

2024 DEVELOPMENTS

PROSPECTS AND OPPORTUNITIES

CATEGORY DATA

PRE-PAID CARDS IN INDIA

KEY DATA FINDINGS

2024 DEVELOPMENTS

PROSPECTS AND OPPORTUNITIES

CATEGORY DATA