The Business Standard reports on credit and debit card activities in India.
Says Uttam Nayak, deputy country manager (South Asia), Visa International, “Thirty million people are eligible for credit cards while 130 million bank account holders are eligible for debit cards. That is the potential for growth.”
Banks expect card usage to grow 100 per cent in the next year. Currently, roughly 55 per cent of credit cards are active. The usage growth will depend on how many outlets accept cards.