Dublin, Aug. 26, 2025 (GLOBE NEWSWIRE) -- The "India Cards and Payments: Opportunities and Risks to 2029" report has been added to ResearchAndMarkets.com's offering.
The report provides detailed analysis of market trends in the Indian cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cash, card, credit transfer, direct debits, and cheques during the review-period (2021-25e).
The report also analyzes various payment card markets operating in the industry and provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2025e-29f). It also offers information on the country's competitive landscape, including market shares of issuers and schemes.
The 'India Cards and Payments: Opportunities and Risks to 2029' report provides top-level market analysis, information and insights into the Indian cards and payments industry, including:
- Current and forecast values for each market in the Indian cards and payments industry, including debit, credit and charge cards.
- Detailed insights into payment instruments including cash, credit transfer, card, cheques and direct debits . It also, includes an overview of the country's key alternative payment instruments.
- Ecommerce market analysis.
- Analysis of various market drivers and regulations governing the Indian cards and payments industry.
- Detailed analysis of strategies adopted by banks and other institutions to market debit, credit and charge cards.
- Comprehensive analysis of consumer attitudes and buying preferences for cards.
- The competitive landscape of the Indian cards and payments industry.
Key Highlights
- India is one of the top real-time payments (instant payment) markets globally, following the launch of the RBI-backed system UPI which enables users to transfer funds and make payments in real time via mobile devices. The UPI Circle feature was launched in August 2024, allowing users to delegate payments to secondary users from their linked bank accounts. This will promote financial inclusion by extending access to those without individual UPI accounts. Primary users maintain control by setting transaction limits and permissions within their 'circle', facilitating convenient and controlled financial management for families and groups.
- Digital payments are also being extend to public transport. In January 2025, the NPCI partnered with Chennai's Metropolitan Transport Corporation (MTC) to implement RuPay On-The-Go, a contactless payment solution for public transit. This integration offers seamless travel between Chennai Metro, MTC buses, and Metro parking facilities using a single card. Launched under the NCMC program, RuPay On-The-Go offers a contactless transit experience across multiple Indian cities via a single RuPay contactless card. The system supports stored value ticketing for use across various transit modes and enables offline transactions, ensuring functionality even in areas with limited or no internet connectivity.
- Digital wallet adoption and usage remain high in India, supported by the large young and tech-savvy population, growing awareness of the technology, and increasing smartphone penetration. International brands are expanding their services in the country which further drives competition in the market. In May 2024, Google Wallet was launched in India, allowing users to store and retrieve digital documents, such as boarding passes, movie tickets, and more. However, the app will not allow users to store payment cards and access the tap-and pay feature in stores. Google has partnered with 20 brands to enable this feature, including PVR & INOX, Air India, Indigo, Flipkart, Pine Labs, Kochi Metro, and Abhibus.
Report Scope
- Card market size in terms of number of cards, value and volume of transactions in Indiaalong with detailed card segmentation of debit, credit and charge cards available in the country.
- Market sizing and analysis of major payment instruments including cash, credit transfer, card, cheques and direct debits .
- Payment market trends and growth for both historical and forecast period
- Competitor analysis with detailed insights into leading card issuers and schemes.
- Comprehensive analysis of consumer attitudes and buying preferences for cards.
- A detailed snapshot of country's key alternative payment brands.
Key Topics Covered:
- Executive Summary
- Market Overview
- Payment Instruments
- Card-Based Payments
- Merchant Acquiring
- Ecommerce Payments
- In-Store Payments
- Buy Now Pay Later
- Mobile Payments
- P2P Payments
- Bill Payments
- Alternative Payments
- Payment Innovation
- Job Analysis
- Payment Infrastructure and Regulation
Company Coverage:
- HDFC Bank
- ICICI Bank
- State Bank of India
- Axis Bank
- IndusInd Bank
- Kotak Mahindra Bank
- IDFC First Bank
- Bank of Baroda
- YES BANK
- Federal Bank
- HSBC
- AU Small Finance Bank
- Standard Chartered
- Canara Bank
- Union Bank of India
- Citibank
- Indian Bank
- Punjab National Bank
- Bank of India
- IDBI Bank
- Indian Overseas Bank
- RBL Bank
- Diners Club
- RuPay
- Visa
- Mastercard
- American Express
For more information about this report visit https://www.researchandmarkets.com/r/3b80q8
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