PwC forecasts India's credit card market to reach 200 million cards by 2028-29, growing at 15% CAGR.

A PwC report forecasts India's credit card market will reach 200 million cards by 2028-29, growing at a 15% CAGR. The industry has already doubled its card issuance in five years, with transaction volumes up 22% and values up 28%. This growth is driven by new products and customer segments. However, debit card usage is declining, as consumers prefer the Unified Payments Interface (UPI), leading to a surge in digital payments, projected to triple by 2028-29.

September 04, 2024
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