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A slightly different kind of thread today.
Let's look at the evolving credit card landscape in India 🇮🇳.
At the end of Dec - 2022, the total outstanding CCs in the country stood at 81.2M vs 68.9M at the end of 2021, which is a 17.7% increase.
CC growth in the last 5 yrs. 👇
Let's look at the market share at the end of 2022.
@HDFC_Bank continued to lead the pack with a 21% share, closely being followed by @SBICard_Connect at 20%. The fight for 3rd and 4th between @ICICIBank and @AxisBank continues.
Change in credit card market share from 2021 to 2022 for the top 4 issuers and American Express.
@KotakBankLtd gained an impressive 1.9% while @HDFC_Bank lost 2%.
How did we spend on our CCs?
Data is from March 2022, since the RBI does not provide data for online transactions before 2022.
Monthly Spends in 2022 combined of POS and Online transactions. 👇
Split of Transactions by Amount POS vs Online and by Volume POS vs Online 👇
While in amount online transactions are higher, in volume POS leads.
