13 Dec 2022

The case for credit cards

the-case-for-credit-cards

The credit card industry has grown tremendously in India. Smooth onboarding journeys, differentiated products, personalized offers & rewards, and better mobile apps, have proved to be greatly beneficial to existing customers and have helped attract new ones as well. With the emergence of e-commerce, the adoption of contactless payments, and changes in the value proposition, the post-pandemic credit card space has undergone considerable change and is evolving constantly.

Traditionally, credit card issuers have focused on customers belonging to high-income, salaried professionals, residing in tier-I cities, and those with a good credit score. There is an emerging need to penetrate newer segments in order to broaden the customer base for credit cards and encourage their widespread adoption.

Read below where we look at the credit card landscape and how it compares with other modes of digital payments