Debit Cards

Card payments get a tech lift as fintechs expand device tokenisation

This contrasts with card-on-file tokenisation (CoFT), where tokens are stored on the merchant's or the payment processor's servers instead of the user's device

Re 1 rise in UPI value trims debit card use by 14 paise: SBI Report

SBI Research report reveals that a Re 1 increase in UPI transaction value reduces debit card usage by 14 paise, reflecting UPI's growing dominance in India's digital payments landscape

India credit, charge card payment market to cross $300bn in 2025: Report

An important factor contributing to this uptrend in India, GlobalData believes, is the availability of installment facilities

PhonePe launches device tokenisation for credit and debit card transactions

This is a first among companies that have decided to offer direct solutions to customers without requiring a merchant's reliance on third-party payment orchestration platforms

Budget muted on UPI, RuPay debit card incentives; sops down by 78%

The Budget earmarked Rs 437 crore to promote such transactions in financial year 2026 (FY26), compared to Rs 2,000 crore allocated the year before

Credit cards more than double in 5 years, debit cards stable: RBI report

The number of credit cards has more than doubled to around 10.80 crore in five years through December 2019 but the number of debit cards has remained relatively stable, says a Reserve Bank report released on Monday. The report also said digital payments in India have grown exponentially in the last decade. While in calendar year (CY)-2013 there were 222 crore digital transactions valued at Rs 772 lakh crore, it has increased 94 times in volume and more than 3.5 times in value to over 20,787 crore transactions valued at Rs 2,758 lakh crore in CY-2024. "In the last five years alone, digital payments in India have increased 6.7 times in volume and 1.6 times in value. This amounts to a five-year CAGR of 45.9 per cent in terms of digital payments volume and 10.2 per cent in terms of digital payments value," said the Payment System Report, December 2024. It further said at end-December 2024, the number of credit cards has more than doubled to around 10.80 crore as compared to December 201

Co-branded credit card share likely to double by FY28: Visa's Rishi Chhabra

Spends are 20% higher than traditional cards

Visa faces US DOJ antitrust case over illegally monopolising debit card mkt

The government's allegations include that Visa made exclusive agreements to hinder the expansion of competing networks and thwarted efforts by technology companies to enter the market

RBI slaps fine of Rs 2.4 crore on Visa for unauthorised payment method

The central bank has aimed to tighten scrutiny of the processes followed by financial technology, or fintech, companies

Visa, Mastercard to extend non-EU tourist card fee caps to 2029, says EU

Visa, the world's largest payments network operator, and its closest rival Mastercard, in 2019 agreed to a 0.2% fee cap on non-EU debit card payments

Visa appoints Sujai Raina as India head; to oversee strategic initiatives

Digital payments platform Visa on Tuesday said it has appointed Sujai Raina as the country manager for India. Besides, Sandeep Ghosh will continue in his role as Group Country Manager for India and South Asia. He will oversee operations in India and other markets in the subcontinent, including Bangladesh, Sri Lanka, Nepal, Bhutan and the Maldives, Visa said in a statement. Raina will be responsible for the India business, leading and executing Visa's strategic initiatives for the market, partnering with clients and the payments ecosystem. In addition to his responsibilities as Country Manager, he will continue to lead business development for Visa in India, the statement said. Raina joined Visa in 2020 and previously served as Vice President and Head of Business Development, India. "India's growth trajectory, and the scale and sophistication of its payment systems, presents a significant opportunity for the continued growth of secure digital payments, driving cash displacement, ..

RBI tightens norms for credit, debit cards used with business accounts

Last month, the RBI had ordered Visa to stop using an unauthorized route to make business-to-business card payments which used fintech companies as an intermediary

Visa, Mastercard top executives meet RBI officials after BPSP biz hit

Banking regulator issue directions to card networks, fintechs to put on hold all commercial card-based transactions made by firms

UPI is king but 75% of online transactions are still through credit cards

Credit cards also appeat to be most dominant in West and South India as 75-80% of credit cards are issued in Western and Southern India.

Avg ticket size on UPI dips 10%, rises 22.6% on cards in H12023: Report

The ATS of P2M transactions dipped 21 per cent from Rs 839 in H1 2022 to Rs 659 in H1 2023

Debit card usage slow for three years and UPI transactions up 428%

In August, UPI transactions hit 10 billion for the first time in a month. Monthly UPI payments are clocking more than Rs 15 trillion

Rupay forex card out soon: Should you pick one over a credit/ debit card?

When you are travelling abroad you have broadly three easy options for making transactions - Prepaid cards, Debit Cards and Credit Cards.

Debit card-based ATM withdrawals up 235% since demonetisation: Report

The cash in circulation in the Indian economy has more than doubled since demonetisation

No TCS on overseas payment via international credit, debit cards: FinMin

The government on Friday said no TCS will be levied on international spending of up to Rs 7 lakh a year by using debit or credit cards. Facing backlash from a wide section of people, the Finance Ministry said the move is aimed at removing procedural ambiguity with regard to Liberalised Remittance Scheme (LRS) and the levying of Tax Collected at Source (TCS). The ministry's decision earlier this week to bring international credit card spending under the RBI's liberalised remittance scheme (LRS) and the consequent levy of 20 per cent TCS has evoked sharp reactions from experts and stakeholders. "To avoid any procedural ambiguity, it has been decided that any payments by an individual using their international Debit or Credit cards up to Rs 7 lakh per financial year will be excluded from the LRS limits and hence, will not attract any TCS," the ministry said in a statement. Currently, payments of up to Rs 7 lakh for medical treatment abroad and towards education do not attract TCS. TCS

JCB partners with NPCI to offer 40% cashback for RuPay JCB cardholders

All RuPay JCB Debit & Credit Cardholders will be offered 40% cashback on in-store purchases in the UAE, Thailand, Malaysia and Spain