Are Indians swiping less? Credit card story has grown bigger, user base hasn’t

 India’s credit card market has grown significantly over the past decade. However, credit card penetration remains low compared to global benchmarks. Younger consumers and semi-urban areas now show increased credit card ownership. Credit cards now face competition from digital payment methods like UPI. Portfolio quality has improved after pandemic-related challenges. India’s credit card market has grown significantly over the past decade. However, credit card penetration remains low compared to global benchmarks. Younger consumers and semi-urban areas now show increased credit card ownership. Credit cards now face competition from digital payment methods like UPI. Portfolio quality has improved after pandemic-related challenges.