Page 14 - Credit Card

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

Credit card spends drop sequentially as festive season draws to close

Monthly spending is more than Rs 1 trn again, led by the rising share of e-commerce transactions

Six held for cheating HDFC Bank credit card holders of Rs 1.61 lakh

Six men were arrested from a hotel located on the Mehrauli-Gurugram road for allegedly cheating HDFC Bank credit card holders of Rs 1.61 lakh, the police said on Monday

To woo customers, HDFC Bank aims to issue 1 mn credit cards every month

The bank wants to double the current pace of half a million new credit card issuances every month, according to Parag Rao, country head for payments business

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

HDFC Bank revises credit card rewards points programme for customers

The bank said for select products and vouchers, redemption of reward points will be capped at 70 per cent of the total value, but this is not applicable for Infina and Diners Black cards

Credit card bill payment platform Cred buys CreditVidya for undisclosed sum

Credit Card bill payment platform Cred on Tuesday said it has acquired SaaS lending-as-a-service platform CreditVidya in a mix of cash and stock transcation for an undisclosed sum.

Musk refuses to reimburse 'millions of dollars' owed to Twitter vendors

This comes amid, several cost-cutting measures by Musk to make Twitter more profitable, including layoffs across Twitter offices around the world

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

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

Air India processes refunds worth over Rs 150 crore after privatisation

Handles 250,000 refund cases in just the first few months since Tatas took over, says eligible request lodged on website will typically be processed within 2-3 days

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 launches credit card in India with 10% cashback on its products

Samsung India on Monday announced its first-ever credit card in India in partnership with Axis Bank and Visa, that will give customers 10 per cent cashback across all Samsung products and services

Card-on-file tokenisation kicks in from Oct 1: Here's all you need to know

A tokenised card transaction is considered safer as the actual details of the card will not be shared with the merchant during transaction processing

Rising credit card, UPI payments indicate increase in consumption: Experts

Rising credit card and UPI payments indicate towards increase in consumption amid recovery in economic activities with ebbing impact of Covid pandemic, said experts and market players. As per the RBI's monthly data, Unified Payments Interface (UPI) transaction increased from Rs 9.83 lakh crore in April this year to Rs 10.73 lakh crore in August. Similarly, credit card spends through PoS (Point of Sale) terminal increased from Rs 29,988 crore in April this year to Rs 32,383 crore in August. The credit card spending on e-commerce platforms, which was valued at Rs 51,375 crore in April, rose to Rs 55,264 crore in August. Rama Mohan Rao Amara, MD and CEO, SBI Card, said the outstanding on credit cards has grown at a Compounded Annual Growth Rate (CAGR) of 16 per cent between FY17 and FY22, as per the RBI's industry data. "With the increased adoption and use of credit cards, there has also been an increase in spends. Over the last few months, the industry has seen monthly credit card ..

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.

HDFC Bank partly recoups market share in credit card spends lost to embargo

RBI data shows that the bank has 28.4% market share in spends as of July, up 190 bps since last August. Pre-embargo, its share was 30.67%