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India Credit Card Market, By Type, By Service Providing Company (Visa; Mastercard; Rupay; & Others), By Credit Score , By Credit Limit, By Card Type, By Benefits (Cashback; & Voucher), By Region, Competition, Forecast & Opportunities, 2025

  • ID: 4969018
  • Report
  • January 2020
  • Region: India
  • TechSci Research
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FEATURED COMPANIES

  • Axis Bank Limited
  • Bank of Baroda
  • Citibank India
  • HDFC Bank Ltd.
  • ICICI Bank Limited
  • IndusInd Bank
Free Webex Call

Speak directly to the analyst to clarify any post sales queries you may have.

10% Free customization

This report comes with 10% free customization, enabling you to add data that meets your specific business needs.

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.

The Indian 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.

Years considered for this report:
Historical Year: 2015-2018
Base Year: 2019
Estimated Year: 2020
Forecast Period: 2021–2025

Objective of the Study:
  • To assess the demand for credit cards in India.
  • To analyze and forecast the market size of credit card market across the country.
  • To classify and forecast the Indian Credit Card Market on the basis of type, service providing company, credit score, credit limit, card type, benefits, by region and by company.
  • To identify drivers and challenges for the Indian Credit Card Market.
  • To identify market trends and developments in the Indian Credit Card Market.
  • To identify and analyze the profile of leading players involved in the Indian Credit Card Market.

In order to perform the study, primary as well as exhaustive secondary research was conducted. Initially, an exhaustive list of credit card companies currently invested in the market and operating in different regions across the country was prepared. Subsequently, primary research surveys, which included primary calls, email responses, etc., with the identified companies were conducted. While interviewing, the respondents were also asked about their major competitors. Through this technique, companies which could not be identified due to the limitations of secondary research could be included. The service offerings, regional network, and regional presence of all major companies across the country were analysed.

The market size for the Indian Credit Card Market was calculated by using a bottom-up technique, wherein the value for different service providing company was recorded as well as forecast for the future years. These values were sourced from the 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.

Key Target Audience:
  • Credit card companies and other stakeholders
  • Associations, organizations, forums and alliances related to credit cards
  • Government bodies such as regulating authorities and policymakers
  • Market research and consulting firms

The study is useful in providing answers to several critical questions that are important for the 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.

Report Scope:

In this report, the Indian Credit Card Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

Market By Type:
  • General Purpose
  • Private Label

Market By Service Providing Company:
  • Visa
  • Mastercard
  • Rupay
  • Others

Market By Credit Score:
  • 300 – 500
  • 501 – 700
  • 701 – 850
  • Above 851

Market By Credit Limit:
  • Up to 50K
  • 51K-2L
  • Above 2L

Market By Card Type:
  • Base
  • Signature
  • Platinum

Market By Benefits:
  • Cashbacks
  • Voucher

Market By Region:
  • North
  • South
  • East
  • West

Competitive Landscape

Company Profiles: Detailed analysis of the major companies operating in the country’s credit card market.

Available Customizations:

With the given market data, the publisher offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

Detailed analysis and profiling of additional market players.

Please note: With the Enterprise license, the PDF product is printable and editable and comes with a market data excel sheet.

Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Axis Bank Limited
  • Bank of Baroda
  • Citibank India
  • HDFC Bank Ltd.
  • ICICI Bank Limited
  • IndusInd Bank

1. Product Overview2. Research Methodology3. Executive Summary
4. Voice of Customer
4.1. Most Important Factors Determining Usage for Credit Card Users
4.2. Factors Influencing Credit Card Adoption in India
4.3. Leading Credit Card Companies in Terms of Customer Service
4.4. Frequency of Review of Credit Score By Credit Card Users
4.5. Purpose of Using Credit Card
4.6. Readiness to Increase Credit Limit
5. India Credit Card Market Landscape
6. India Credit Card Market Outlook
6.1. Market Size & Forecast
6.1.1. By Volume
6.2. Market Share & Forecast
6.2.1. By Type (General Purpose and Private Label)
6.2.2. By Service Providing Company (Visa, Mastercard, Rupay and Others)
6.2.3. By Credit Score (300 – 500, 501 – 700, 701 – 850 and Above 851)
6.2.4. By Credit Limit (Up to 50K, 51K - 2L and Above 2L)
6.2.5. By Card Type (Base, Signature and Platinum)
6.2.6. By Benefits (Cashback and Voucher)
6.2.7. By Region (West, South, North and East)
6.2.8. By Company (FY 2019)
6.3. Market Attractiveness Index
6.3.1. By Type
6.3.2. By Service Providing Company
6.3.3. By Credit Limit
6.3.4. By Region
7. West India Credit Card Market Outlook
7.1. Market Size & Forecast
7.1.1. By Volume
7.2. Market Share & Forecast
7.2.1. By Service Providing Company
7.2.2. By Credit Score
7.2.3. By Credit Limit
7.2.4. By Card Type
8. South India Credit Card Market Outlook
8.1. Market Size & Forecast
8.1.1. By Volume
8.2. Market Share & Forecast
8.2.1. By Service Providing Company
8.2.2. By Credit Score
8.2.3. By Credit Limit
8.2.4. By Card Type
9. North India Credit Card Market Outlook
9.1. Market Size & Forecast
9.1.1. By Volume
9.2. Market Share & Forecast
9.2.1. By Service Providing Company
9.2.2. By Credit Score
9.2.3. By Credit Limit
9.2.4. By Card Type
10. East India Credit Card Market Outlook
10.1. Market Size & Forecast
10.1.1. By Volume
10.2. Market Share & Forecast
10.2.1. By Service Providing Company
10.2.2. By Credit Score
10.2.3. By Credit Limit
10.2.4. By Card Type
11. Market Dynamics
11.1. Drivers
11.2. Challenges
12. Market Trends and Developments13. Policy & Regulatory Landscape14. India Economic Profile
15. Competitive Landscape
15.1. Company Profiles
15.1.1. HDFC Bank Ltd.
15.1.2. SBI Cards and Payment Services Limited
15.1.3. ICICI Bank Limited
15.1.4. Axis Bank Limited
15.1.5. Citibank India
15.1.6. Bank of Baroda
15.1.7. RBL Bank Ltd.
15.1.8. Kotak Mahindra Bank Limited
15.1.9. Punjab National Bank
15.1.10. IndusInd Bank
16. Strategic Recommendations
17. About the Publisher
(Note: The companies list can be customized based on the client requirements)
List of Figures:
Figure 1: India Cumulative Credit Card Market Size, By Volume, 2015-2025F (Million)
Figure 2: India Card (Credit/Debit) Transactions, By Volume, 2015-2019 (Billion)
Figure 3: India Incremental Credit Card Market Size, By Volume, 2015-2025F (Million)
Figure 4: India Card (Credit/Debit) Transactions, By Value, 2015-2019 (USD Billion)
Figure 5: India Cumulative Credit Card Market Share, By Type, By Volume, 2015-2025F
Figure 6: India Cumulative Credit Card Market Share, By Service Providing Company, By Volume, 2015-2025F
Figure 7: India Cumulative Credit Card Market Share, By Credit Score, By Volume, 2015-2025F
Figure 8: India Cumulative Credit Card Market Share, By Credit Limit, By Volume, 2015-2025F
Figure 9: India Cumulative Credit Card Market Share, By Card Type, By Volume, 2015-2025F
Figure 10: India Cumulative Credit Card Market Share, By Benefit, By Volume, 2015-2025F
Figure 11: India Cumulative Credit Card Market Share, By Region, 2019 & 2025F
Figure 12: India Cumulative Credit Card Market Share, By Company, By Volume, 2019
Figure 13: Type Map-Market Size (Million) & Growth Rate (%)
Figure 14: Service Providing Company Map-Market Size (Million) & Growth Rate (%)
Figure 15: Credit Limit Map-Market Size (Million) & Growth Rate (%)
Figure 16: Region Map-Market Size (Million) & Growth Rate (%)
Figure 17: West India Cumulative Credit Card Market Size, By Volume, 2015-2025F (Million)
Figure 18: India Credit Card Transaction, By Volume, 2015-2019 (Billion)
Figure 19: West India Incremental Credit Card Market Size, By Volume, 2015-2025F (Million)
Figure 20: India Credit Card Transactions, By Value, 2015-2019 (USD Billion)
Figure 21: West India Cumulative Credit Card Market Share, By Service Providing Company, By Volume, 2015-2025F
Figure 22: West India Cumulative Credit Card Market Share, By Credit Score, By Volume, 2015-2025F
Figure 23: West India Cumulative Credit Card Market Share, By Credit Limit, By Volume, 2015-2025F
Figure 24: West India Cumulative Credit Card Market Share, By Card Type, By Volume, 2015-2025F
Figure 25: South India Cumulative Credit Card Market Size, By Volume, 2015-2025F (Million)
Figure 26: India Credit Card Usage at ATM, By Volume, 2015-2019 (Million)
Figure 27: South India Incremental Credit Card Market Size, By Volume, 2015-2025F (Million)
Figure 28: India Credit Card Usage at ATM, By Value, 2015-2019 (USD Million)
Figure 29: South India Cumulative Credit Card Market Share, By Service Providing Company, By Volume, 2015-2025F
Figure 30: South India Cumulative Credit Card Market Share, By Credit Score, By Volume, 2015-2025F
Figure 31: South India Cumulative Credit Card Market Share, By Credit Limit, By Volume, 2015-2025F
Figure 32: South India Cumulative Credit Card Market Share, By Card Type, By Volume, 2015-2025F
Figure 33: North India Cumulative Credit Card Market Size, By Volume, 2015-2025F (Million)
Figure 34: India Credit Card Usage at POS, By Volume, 2015-2019 (Billion)
Figure 35: North India Incremental Credit Card Market Size, By Volume, 2015-2025F (Million)
Figure 36: India Credit Card Usage at POS, By Value, 2015-2019 (USD Billion)
Figure 37: North India Cumulative Credit Card Market Share, By Service Providing Company, By Volume, 2015-2025F
Figure 38: North India Cumulative Credit Card Market Share, By Credit Score, By Volume, 2015-2025F
Figure 39: North India Cumulative Credit Card Market Share, By Credit Limit, By Volume, 2015-2025F
Figure 40: North India Cumulative Credit Card Market Share, By Card Type, By Volume, 2015-2025F
Figure 41: East India Cumulative Credit Card Market Size, By Volume, 2015-2025F (Million)
Figure 42: India POS Terminals & ATMs, 2014 - 2018 (‘000)
Figure 43: East India Incremental Credit Card Market Size, By Volume, 2015-2025F (Million)
Figure 44: Demand Projections for Commercial Spaces in India (Across Top 8 Cities), (Million sq ft), 2013-2018
Figure 45: East India Cumulative Credit Card Market Share, By Service Providing Company, By Volume, 2015-2025F
Figure 46: East India Cumulative Credit Card Market Share, By Credit Score, By Volume, 2015-2025F
Figure 47: East India Cumulative Credit Card Market Share, By Credit Limit, By Volume, 2015-2025F
Figure 48: East India Cumulative Credit Card Market Share, By Card Type, By Volume, 2015-2025F
Note: Product cover images may vary from those shown

A selection of companies mentioned in this report includes:

  • HDFC Bank Ltd.
  • SBI Cards and Payment Services Limited
  • ICICI Bank Limited
  • Axis Bank Limited
  • Citibank India
  • Bank of Baroda
  • RBL Bank Ltd.
  • Kotak Mahindra Bank Limited
  • Punjab National Bank
  • IndusInd Bank
Note: Product cover images may vary from those shown