According to a new research report by RNCOS “ Indian Payment Card Market Forecast to 2012”, debit cards are expected to touch around 400 Million in India by the end of FY 2014. Volume of debit card transactions has increased by around 39.3% in the last fiscal year. With increasing number of debit card transactions, payment value is projected to grow at a CAGR of around 24% during FY 2012-2014. This increasing usage of debit cards to make payments will be largely propelled by the rapidly developing payment card infrastructure in the country during the forecast period.
The innovations and improvement in the payment infrastructure through cards in India has continued to witness favorable changes over the last few years. According to a latest report by RNCOS, spread over 70 pages, changing consumer spending patterns and favorable regulatory environment has driven various segments of payment cards for rapid recovery and growth.
The report, “ Indian Payment Card Market Forecast to 2012”, provides an in-depth research and rational analysis of the current status and expected position of the payment card industry in India. The report facilitates the future forecasts on the number of transaction through these cards focusing on recent developments and future growth avenues during 2011-2014. Additionally, competitive landscape along with current market attractions has been included in the report to provide a balanced outlook on the potentials of the Indian Payment Card industry.
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