Transactions through credit and debit card on higher side
In September, Credit Card transactions up by 31.5 %. Figure of credit card transaction stood at 7693.81Crore. In Last month almost 4.3% of credit card applications declined.
If we compared Last year April-sep period transactions with this year transactions, then it’s up by 30%.
Like credit card, Debit card transactions also in up side, Increased by 37.3 % more than credit card. There were over 25.19 crore debit cards in use as of September 30, 2011, up 23.6 % from the year-ago period. Transactions by debit card during April-September period were up 42.3 %
The shoot in transaction points to greater use of the electronic payments system as people move away from old formats of payment, especially in major cities.
In 2010-11, credit cards transactions in the country went up by 22.2 % to touch Rs 75,515.68 crore in value terms.
In addition, debit card transactions went up by 46.5 % last fiscal to Rs 38,691.88 crore.The shoot in transaction points to greater use of the electronic payments system as people move away from old formats of payment, especially in major cities.
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