A Note On Credit Card

1451 WordsDec 6, 20146 Pages
Credit Card Trend of transaction in the past five years in India in terms of revenues ( % growth y-o-y)  The credit card in India witnessed 33% growth in terms of transaction value, to reach to $23297.5 million in 2013.  The number of credit cards in circulation grows by 2% to 21 million  Banks continue to promote credit cards to customers with new and attractive offers  HDFC Bank Ltd is the leading issuer of credit cards with a 29% value share in 2012 OVERALL SCENARIO Overall, credit card saw a 2% increase in the cards issued, a 19% increase in the number of transaction and a 33% increase in the transaction value. It showed a strong improvement in the last five years compared to the other countries. In terms of card circulation, banks continued to maintain a strict “Know Your Customer” policy, before issuing the card to the customer. OFFERS FOR DISTRIBUTION OF CREDIT CARDS Banks gave various offers including cashback on certain amounts of expenditure, discounts especially for retail purchases and special offers on travel and tourism bookings to boost the sale of the credit cards. SAFETY Credit card usage also evolved in terms of merchant acceptance and usage by consumers. Indians have started shifting their attitude towards the use of credit card and now feel more safe in using it than in the previous years. COMPANY SHARES The company share has been shown in the image below. As can be seen that HDFC Bank Ltd. has topped the percentage share in the transaction value

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