Page 2 - Credit Card Industry
IndusInd Bank launches 'virtual commercial card' for cross-border payments
In partnership with Visa and Juspay, the virtual card has additional layers of security that give users complete control over their international expenses, thus making it safe and hassle-free
 "IndusInd Bank launches 'virtual commercial card' for cross-border payments")
Credit market on course to grow to $350 billion by year-end: Vivek Joshi
Financial Services Secretary Vivek Joshi on Tuesday said the credit market, led by the digital lending segment, is on course to grow to USD 350 billion (around Rs 3 lakh crore) by the end of the year. The digital lending segment stood at USD 270 billion at the end of 2022, Joshi said on the opening day of the fifth edition of the global fintech festival here. The official also said the country's fintech market is slated to grow three times to USD 150 billion by 2025-end from USD 50 billion in 2021. About 800 speakers and 50,000 delegates are attending the three-day global fintech summit.
 "Credit market on course to grow to $350 billion by year-end: Vivek Joshi")
SBI Card unveils additional features on its super-premium card 'AURUM'
The card also offers 1-year Club Mariott membership as a welcome gift
 "SBI Card unveils additional features on its super-premium card 'AURUM'")
Credit card dues up 30% in Apr; cross Rs 2 trillion mark for the first time
The Reserve Bank of India (RBI) has expressed its concern about the growing unsecured bank credit
Rewards galore: Most loved credit cards for online spends in India
India is approaching 100 million (10 crore) credit cards. Just 4 banks account for 71% of all credit cards
 "Rewards galore: Most loved credit cards for online spends in India")
Credit card spends touch all-time high of Rs 1.37 trillion in March
As per latest data, almost 63 per cent of the spends or a little over Rs 86,000 crore came from e-commerce while the rest was at point of sales (PoS) terminals
Credit card spends dip in Feb but top Rs 1 trn for 12th straight month
February typically sees a slight dip in spends compared to other months because it has fewer days. In January, spends had touched Rs 1.26 trillion, the second highest figure ever
 "Credit card spends dip in Feb but top Rs 1 trn for 12th straight month")
Credit card spends in Dec cross Rs 1 trillion for 10th month in a row
Net card addition fell substantially in December to 580,000
Maximise reward points by using the right card for your each spend
Beware that on some expenses you could be levied a fee for card usage
Credit card use at PoS higher than at e-com sites in July-Sept: Report
Attributes trend to value-added services such as EMI and BNPL which are allowing consumers to use cards for big-ticket transactions, as opposed to small-ticket earlier
 "Credit card use at PoS higher than at e-com sites in July-Sept: Report")
Festivals boost credit card spends to record high of Rs 1.29 trillion
On a year-on-year (YoY) basis, spends were up over 25 per cent, despite a high base
We're moving away from volatile corporate bulk deposits: RBL Bank MD & CEO
In a Q&A, R Subramaniakumar dwells on the lender's strategy to fuel growth in credit cards and microfinance, and plans to mop up deposits in an increasingly difficult market
 "We're moving away from volatile corporate bulk deposits: RBL Bank MD & CEO")
Want to close or cancel your credit card? Here's a step-by-step guide
When you are considering canceling a card, it should be taken into account how the cancellation of your credit card will affect your credit score
 "Want to close or cancel your credit card? Here's a step-by-step guide")
Credit card base of major issuers erodes in Q2 over RBI's norms
SBI Card was exception as gains card base, market share
Credit card spends touch record high of Rs 1.22 trillion in September
Banking system saw a net reduction of close to 290,000 cards during this period, impacted by RBI norms warranting deactivation of cards that are inactive for a year
Active credit cards drop 2.3 million in August over new RBI norms
Spends decline 3% MoM but top Rs 1 trn for sixth consecutive month
Samsung forays into finance, launches credit card with Axis Bank and Visa
Samsung Axis Bank Credit Card will allow customers to avail of a 10 per cent cashback across all Samsung products and services throughout the year
 "Samsung forays into finance, launches credit card with Axis Bank and Visa")
The big plastic bonanza: Credit cards business is booming like never before
Defying the after-effects of pandemic-related pay cuts and job losses, the credit cards business is booming like never before
Growth in credit card spends is here to stay: Rama Mohan Rao Amara
Rama Mohan Rao Amara, MD & CEO, SBI Card spoke on the reasons behind record spends, the company's ideal run rate of issuance of credit cards, impact of RBI's discussion paper on payment charges.
 "Growth in credit card spends is here to stay: Rama Mohan Rao Amara")
Credit card spends touch all-time high of Rs 1.16 trillion in July
Spends have topped Rs 1 trillion level for five consecutive months now
 "Credit card spends touch all-time high of Rs 1.16 trillion in July")
