Data Drive: Marginal gains | The Financial Express

Data Drive: Marginal gains

Credit-card spends are growing—surpassing debit card spends—due to customers’ urge to turn digital and earn reward points offered by card companies.

Data Drive: Marginal gains
However, credit card spends, as a percentage of private final consumption expenditure, remain low in India as compared to its global peers.

While India’s credit card base has doubled every five years, the segment remains significantly under-penetrated, with just four cards per 100 people compared to 55 in China.

Credit-card spends are growing—surpassing debit card spends—due to customers’ urge to turn digital and earn reward points offered by card companies.

However, credit card spends, as a percentage of private final consumption expenditure, remain low in India as compared to its global peers.

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First published on: 02-12-2022 at 04:15 IST