Debit Cards transaction volume slumps by 5%, Credit Cards witness uptick in Jan ‘25, ET BFSI
Debit cards transaction volume has decreased by a large 12 per cent whereas the worth of transactions decreased by roughly 5 per cent in January 2025. However, bank cards transaction quantity and worth has picked up in January on a year-on-year foundation by 31 per cent and 11 per cent respectively.
On a month-on-month foundation, the whole debit playing cards transaction quantity additionally witnessed a slight lower by 2 per cent in January 2025, whereas the worth decreased by 1 per cent throughout the identical month.
About 0.61 billion debit card transactions have been carried out in January, with 80.1 per cent of it constituting ATM transactions, 14.9 per cent in (Level of Sale) PoS and 5 per cent in E-commerce. The numbers had a slight distinction in comparison with January 2025, with roughly 0.61 billion debit card transactions in December 2024, 80.1 per cent of it being ATM transactions, 14.9 per cent in PoS and 5 per cent in E-commerce.
Compared to the amount of transactions, the month of January noticed Rs 2.89 billion value of debit card transactions. Out of this, transactions at ATMs have been about 86.5 per cent, 9 per cent at PoS and 4.4 per cent at E-commerce, mentioned the 1Lattice information.
Moreover, within the debit playing cards phase, State Financial institution of India, remained the entrance runner within the Debit playing cards market, holding a whopping 24 per cent market share in January 2025.
Prime banks adopted the checklist in Debit playing cards like Financial institution of Baroda which held about 10 per cent market share, adopted by Canara Financial institution, Union Financial institution and HDFC Bank with roughly 6 per cent market share every and Financial institution of India with a 4 per cent market share.
Previously 4 years, debit and credit card transactions have grown at a CAGR of 20 per cent and 19 per cent respectively. There may be mentioned to be 71 million energetic bank cards in FY22, a latest report by PWC India highlighted.
It’s anticipated that card-based transactions will proceed to witness regular development, at nearly 16 per cent 12 months on 12 months for the subsequent 4 years.
Credit score Card transactions witness uptick
On a 12 months on 12 months foundation, bank card transactions quantity has witnessed an uptick by 31 per cent whereas the worth has additionally elevated by a whopping 11 per cent in January 2025.
Nonetheless, month-on-month the whole bank cards transaction quantity decreased by 1 per cent in January 2025, whereas the worth decreased by 2.1 per cent throughout the identical month.
Additionally, within the bank cards phase, HDFC Financial institution continued to guide the race within the bank cards market with a 21 per cent market share. SBI Playing cards, ICICI Financial institution and Axis Financial institution adopted the checklist with 18 per cent, 17 per cent and 14 per cent market share respectively this month.
Roughly 0.43 billion bank card transactions in quantity have been carried out in January 2025, with 50.5 per cent of it constituting PoS transactions, 49.2 per cent in E-commerce and 0.2 per cent in ATMs, highlighted the 1Lattice information.
Compared to the amount of transactions, the month of January noticed Rs 1.84 billion value of transactions. Out of this, transactions at PoS have been about 37.6 per cent, 62.1 per cent at Ecommerce and 0.2 per cent at ATMs, the info added.
