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With the continuous rise in middle class households and the shift in consumer
spending pattern, the Indian payment card market, which includes both credit
cards and debit cards, has been growing rapidly in the recent years. This huge
demand for payment cards is providing tremendous growth opportunities for card
issuers, suppliers and manufacturers, according to our new research report
"Indian Payment Card Market Forecast to 2012”.
We have found that the number of debit cards issued by banks grew at a CAGR
of around 40% between FY 2006 and FY 2009, and we anticipate that the future
prospects of the industry will remain buoyant, owing to low payment card
penetration coupled with surge in card spending due to rising income levels of
the Indian population. Moreover, consumer’s preference to the use of cards over
cash will boost due to its safety and easy access. Besides, there are many other
benefits, like reward points and discounts, offered by merchants as well as
bankers, which will lure customers to shop by their payment cards. Moreover, the
increasing trend of online shopping has also provided the impetus for the growth
of the industry. We have also studied the Indian payment card industry in terms
of technology adoption and scope of different technologies in future.
Our research also indicates that the future growth trend, to some extent, will be
impacted by the financial turmoil and credit squeeze. Nevertheless, the overall
trend will remain positive over the forecast period. The baseline for the optimistic
future outlook of our report is that the government has been actively supporting
card usage in current years to cut the operating cost and to avoid tax
delinquencies. In fact, RBI has proposed to launch a domestic payment card
(India Card) and a POS switch network for issuance and acceptance of payment
cards.
Forecast presented in the report has been done considering the possible post-
recession impact on the industry. It will help clients to have proper insight into the
current and future outlook of credit card market in developing economies.
Table of Content:-
1. Analyst View
2. Economic Overview
3. Market Attractions
3.1 Changing Consumer Spending Patterns
3.2 Improving Payment Infrastructure
3.3 Growing Trends of E-shopping
3.4 Favorable Regulatory Environment
3.5 Holistic Competition
6. Industry Restraints
6.1 Awareness
6.2 Delinquency Ratio and Frauds
7. Competitive Landscape
7.1 ICICI Bank Ltd
7.2 HDFC Bank Ltd
7.3 Citibank NA
7.4 State Bank of India
7.5 Punjab National Bank
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