| The global adoption of credit cards has been nothing short of revolutionary, lending credence to the concept’s hallmark: buy-now-pay-later. And it doesn’t seem to be slowing down. In India, the growth story seems to be just starting. The number of credit cards in India has increased y-o-y by 21.6%, from 26.3 million in August 2016 to 57.8 million in August 2020. Credit cards' growth has also overshadowed the growth of debit cards, which have only grown by 4.7% from 712.4 million in August 2016 to 858.7 million in August 2020. |
