India Credit Card Market - Analysis and Industry Forecast 2025
Posted by Sophia Jones on February 5th, 2020
Market Reports on India Provides the Trending Market Research Report on ”India Credit Card Market, By Type (General Purpose & Private Label), By Service Providing Company (Visa; Mastercard; Rupay; & Others), By Credit Score (300-500, 501-700, 701-850 and Above 851), By Credit Limit (Upto 25 K; 25-50K; 51k-2L; & 2-5L), By Card Type (Base, Signature and Platinum), By Benefits (Cashback; & Voucher), By Region (West; South; North; & East), Competition, Forecast & Opportunities, 2025” under Financial Services category. The report offers a collection of superior market research, market analysis, competitive intelligence and industry reports.
In India, the credit card user base in 2019 reached 47 million and the market is anticipated to grow at a CAGR of more than 25% during 2020 – 2025 on account of rising popularity of credit cards and growing trend of purchasing products first and paying later. Credit card market in India is smaller when compared with its counterpart debit card; however, the market is anticipated to witness significant growth in the coming years. With increasing popularity of credit cards, banks are focusing on urban and semi-urban markets in order to increase their share in the market.
India Credit Card Market can be segmented based on type, service providing company, credit score, credit limit, card type, benefits and region. Based on type, credit card market can be bifurcated into general purpose and private label segments. General purpose is the dominant segment in the market and the segment is likely to continue its dominance in the coming years as well, as general purpose credit cards can be used at a variety of stores.
Major players operating in the country include HDFC Bank Ltd., SBI Cards and Payment Services Limited, ICICI Bank Limited, Axis Bank Limited, Citibank India and Bank of Baroda, among others. Reserve Bank of India discontinued magnetic strip-based cards from December 31, 2018 on account of increasing instances of card cloning and skimming.
Request a free sample copy of India Credit Card Market Report @ http://www.marketreportsonindia.com/marketreports/sample/reports/1975606
Years considered for this report:
Objective of the Study:
In order to perform the study, Our Research conducted primary as well as exhaustive secondary research. Initially, Our Research prepared an exhaustive list of credit card companies currently invested in the market and operating in different regions across the country. Subsequently, Our Research conducted primary research surveys, which included primary calls, email responses, etc., with the identified companies. While interviewing, the respondents were also asked about their major competitors. Through this technique, Our Research was able to include companies which could not be identified due to the limitations of secondary research. Our Research analyzed service offerings, regional network, and regional presence of all major companies across the country.
Our Research calculated the market size for India credit card market by using a bottom-up technique, wherein the value for different service providing company was recorded as well as forecast for the future years. Our Research sourced these values from industry experts and company representatives, and externally validated through analyzing historical data of respective companies to arrive at the overall market size. Multiple secondary sources such as directories, databases, Reserve Bank of India, World Bank, company websites, company annual reports, white papers, investor presentations and financial reports were also studied by Our Research.
Key Target Audience:
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as credit card providers and policymakers. The study would also help them to target the growing segments over the coming years, thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Market By Type:
Market By Service Providing Company:
Market By Credit Score:
Market By Credit Limit:
Market By Card Type:
Market By Benefits:
Market By Region:
Browse our full report with Table of Content:http://www.marketreportsonindia.com/marketreports/india-credit-card-market-by-type-general-purpose-private-label-by-service-providing-company-visa-mastercard-rup/1975606
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Market Reports on India is an excellent source to obtain top quality market research reports that helps you to understand the business in the Indian market. We cover various industries, identifying and understanding key macro and micro-economic trends, insights and futuristic growth opportunities. To help achieve all this and more, Market Reports on India is the answer to all your business needs.
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About the AuthorSophia Jones
Joined: August 22nd, 2017
Articles Posted: 752
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