Page 18 - Credit Card
Half of India's working population of 400 mn people credit active: Report
Credit institutions are fast approaching a saturation level in new customers as over half of the borrowers are from the existing customer base of a bank: report
 "Half of India's working population of 400 mn people credit active: Report")
PE major Carlyle to sell 5.1% stake in SBI Cards on Friday
A total of 48 million shares of the credit card company will be on offer in the range between Rs 1,002 to Rs 1,041.3 per share
 "PE major Carlyle to sell 5.1% stake in SBI Cards on Friday")
HDFC Bank draws up groundwork to regain credit card market share
Will come back with a bang once RBI lifts freeze, says bank
 "HDFC Bank draws up groundwork to regain credit card market share")
Amazon explores replacing JPMorgan as issuer of co-brand credit card
American Express Co. and Synchrony Financial are among those bidding on the portfolio.
 "Amazon explores replacing JPMorgan as issuer of co-brand credit card")
CredR to ride deeper into small towns on rising demand for used 2-wheelers
The used two-wheeler firm is in talks for fundraising, plans to double showrooms
 "CredR to ride deeper into small towns on rising demand for used 2-wheelers")
RBI bars American Express, Diners Club from onboarding new customers
The central bank said the card companies did not adhere to guidelines on local data storage
 "RBI bars American Express, Diners Club from onboarding new customers")
Cash-strapped patients with Covid-19 infection can consider loans
In a health emergency, speed of disbursement is more important than cost
 "Cash-strapped patients with Covid-19 infection can consider loans")
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
 "Citi's exit from retail banking an opportunity for Indian banks: Analysts")
Top headlines: Auto-debit payments, steel firms' stocks surge, and more
Here are the top business headlines on Wednesday morning
 "Top headlines: Auto-debit payments, steel firms' stocks surge, and more")
Your auto payments for phone bills, OTT subscriptions may fail in April
Transactions worth more than Rs 2,000 cr expected to be affected as RBI refuses more time to comply with new pre-debit notification rule
New e-payment norms likely to block auto-subscriber route: Experts
Avoid exposing your data; use a virtual card instead
 "New e-payment norms likely to block auto-subscriber route: Experts")
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
 "Soaring fuel prices crowd out other spends on credit cards: Report")
The zero MDR has affected the PoS business: Worldline's Deepak Chandnani
India has some 5.2 million PoS units, but a country of our size needs more, DEEPAK CHANDNANI, managing director, Worldline (South Asia and the Middle East), tells Raghu Mohan
 "The zero MDR has affected the PoS business: Worldline's Deepak Chandnani")
How prepaid cards ensure that you don't go overboard on your expenses
They're also safer than credit and debit cards, and online transactions; just make sure you don't overload your prepaid card with too much money
 "How prepaid cards ensure that you don't go overboard on your expenses")
CLSA sees 31% upside in RBL Bank on stable deposits, robust credit card biz
In a report dated January 5, CLSA said the bank is re-aligning its product portfolio and is now focusing on key retail-asset niches
 "CLSA sees 31% upside in RBL Bank on stable deposits, robust credit card biz")
$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
UK Supreme Court enables $18.5 billion class action against Mastercard
The judgment dismisses an appeal by Mastercard
 "UK Supreme Court enables $18.5 billion class action against Mastercard")
Two out of three borrowers unaware of their CIBIL score: Report
The CIBIL score is an indicator of credit worthiness.
 "Two out of three borrowers unaware of their CIBIL score: Report")
India's a digital payments hotspot
With social distancing becoming the new norm, there is a behavioural shift across all consumer categories
 "India's a digital payments hotspot")
World Bank cautions against fake credit, debit cards with its name, logo
The advisory came after its attention was drawn to such fraudulent issuance of debit/credit cards in India, according to the multilateral lending agency
 "World Bank cautions against fake credit, debit cards with its name, logo")