Page 3 - Credit Card Industry

Credit cards gain more currency pipping debit cards for e-commerce

They overtake debit cards for e-commerce and bill payments but remain a minuscule portion of personal loans

Axis satisfied with Citi India's credit card portfolio performance: Exec

Axis Bank is satisfied with the performance of Citi India's credit card portfolio when gauged by spends and Non-Performing Assets (NPAs), executive from the third largest private sector lender said

RBI postpones implementation of certain norms related to cards by 3 months

Banks and non-banking financial companies (NBFCs) were to implement the Master Direction on 'Credit Card and Debit Card - Issuance and Conduct Directions, 2022' from July 1.

Credit card users spent Rs 39,000 cr on digital payments in 2021: Report

Expenditure on food and utility bills remained consistent during all months while food and beverages saw high spending after the lockdown restrictions were eased from July to October

Festive season: Credit card spends jump 57% in September, shows data

Credit card spends are much higher than pre-pandemic levels.

After RBI's move, card networks may raise rates for tokenisation services

National Payment Council of India chairman says, 'If the networks charge heavily the entire system will fail'

Vistara partners with IndusInd Bank to launch co-branded credit card

The credit card will offer various benefits such as a complimentary business class ticket, membership of the airline's frequent flyer programme and lounge access

As Covid-19 second wave wanes, credit card spending rises in India

HDFC Bank plans to aggressively issue cards after central bank withdraws ban, helping sector to make more gains.

Credit card buys seen 8% lower in Apr-June quarter, say analysts

Among players in the credit card segment, HDFC Bank, despite a ban on issuing new credit cards, retained a sizeable, and, perhaps, the lar­gest market share in spends, at 27 per cent in May.

Magma Fincorp plans to enter into co-branded credit card business

Magma Fincorp on Friday said it plans to enter into an arrangement for issuance of co-branded credit cards

Citi's exit from retail banking an opportunity for Indian banks: Analysts

Among its various business verticals, analysts say Citi's credit card business will be most sought after by suitors

End of the plastic smile: Tectonic change is roiling credit card industry

Tectonic change is roiling the credit card industry, and the rules of the game are being reset

RuPay set to expand credit card business in India, take it to masses

Introduced 9 yrs ago, the indigenous card payment network has cornered a sizeable market share, thanks to govt push

Soaring fuel prices crowd out other spends on credit cards: Report

Massive rise in retail fuel prices crowded out other discretionary spends on credit cards in December, according a report

SBI Cards net profit down 52% to Rs 210 crore in Q3, total income dips

Impairment losses and bad debts jumped 72 per cent YoY in Q3FY21 to Rs 648 crore

SBI Cards shares surge 5% on heavy volumes, hit fresh record high

Analysts believe the credit card growth story has just started unfolding with visibility of multi-year growth

$81 mn fund raise pushes Credit card app CRED's valuation past $806 mn

Existing investor, billionaire Yuri Milner's fund DST Global leads round, along with Sequoia Capital, Tiger Global, and others. Existing and past employees liquidate ESOPs worth Rs 9 cr

Facing credit card woes amid pandemic? Look for lower-cost credit options

Defaulting on card dues could restrict access to credit in future

Hardayal Prasad named MD & CEO of PNB Housing, takes charge on Monday

A banker with experience in international operations and credit card, he replaces incumbent Neeraj Vyas

Delinquency in credit card industry improved by 5 bps in 2019: Report

The outstanding portfolio of private banks in the credit card space has increased by 59 per cent year-on-year while other issuers saw a 20 per cent growth in 2019 over 2018.