Indian Credit Card Market Set to Grow at 13% CAGR

The number of credit cards issued by Indian banks has increased phenomenally during the last few years. The provision of paying for an expensive commodity in easy installments is the basic advantage of using a credit card. Moreover, among the affluent population, credit card ownership in India is the lowest in the world. Industry sources estimate that just over 20% of the affluent people have credit cards in India compared to over 80% in the countries, such as the US, the UK and, even Hong Kong. With such low penetration levels, Indian credit card industry offers plethora of opportunities, realizing which numerous companies are planning to launch their credit card operations in India. Consequently, the number of credit cards issued by banks is forecasted to grow at a CAGR of nearly 13.2% during FY 2011-FY 2013, says our new research report “Indian Payment Card Market Forecast to 2012”.

 

Furthermore, recovering economy coupled with the availability of affluent consumers remains the most enticing characteristic of the Indian credit card market. Besides, the Reserve Bank of India has imposed several restrictions on the foreign banks regarding launching their Indian operations, whereas there are no such restrictions on credit card companies. Along with this, various other factors, which have played an important role in boosting credit card market, have also been described in the report.

 

Our report has covered various segments of the payment card market in India, such as debit card, credit card, prepaid card, ATM networks, and POS terminals. For each of the segment, detail description and related statistics have also been included in the report.

 

“Indian Payment Card Market Forecast to 2012” also provides information of the key competitors in the market along with their business information and areas of expertise. The report shows a highly concentrated structure of the market, with the top players dominating the market. It provides segment level analysis of the industry along with emerging trends that may shape up with the betterment of economic conditions. The research will help consultants, industry analysts, and vendors to get in-depth knowledge of the current, past, and future performance of the industry.

For more information visit: http://www.rncos.com/Report/IM006.htm