Rise of Debit Cards Spending in India

Times of india in its report talks about the remarkable rise of debit card spending which is increasing at a rate way more than credit card...

Times of india in its report talks about the remarkable rise of debit card spending which is increasing at a rate way more than credit card spending in India.This marks a good sign for ecommerce in india too some of the key points of the report are
  • RBI data shows that during the first seven months of the current financial year (2008-09), payments through debit cards crossed 80% of the total transactions recorded in 2007-08.
  • Total spending through debit cards was a little over Rs 12,500 crore.
  • 84% of the value of total transaction during the whole of FY08 was already achieved between April and October of FY09
  • On the credit card side, during April-October of FY09, nearly Rs 40,000 crore worth of transactions were done, against Rs 58,000 crore done during the whole of FY08.
  • For Credit cards about 69% of last fiscal's total transactions were achieved during the first seven months of the current fiscal.
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5 comments

Artificial Plants said...

This is a good sign of our business growth.

Stefy said...

Can anyone throw light on cash card market.

Vineet said...

I have heard about some cash cards like Itzcash, Done Cards, and Oxi Cards

Abhisheek said...

Hey stefy I have used Itzcash card for paying my electricity and water bill .It is awesome as we don’t have to stand in a queue for paying our bill.

Abhisheek said...

Hey stefy I have used Itzcash card for paying my electricity and water bill .It is awesome as we don’t have to stand in a queue for paying our bill.

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