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Credit Card to Fuel Indian Payment Card Market Finds RNCOS - With low penetration level and rising income of middle class households, the Indian credit card market is expected to grow at a CAGR of 59% during FY 2010-FY 2013, says RNCOS
Credit Card to Fuel Indian Payment Card Market Finds RNCOS

 

PRZOOM - /newswire/ - Noida, Uttar Pradesh, India, 2010/07/14 - With low penetration level and rising income of middle class households, the Indian credit card market is expected to grow at a CAGR of 59% during FY 2010-FY 2013, says RNCOS.

   
 
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According to our latest research report "Indian Payment Card Market Forecast to 2012", the Indian payment card industry has been able to draw the attention of big and new players. The changing life style of middle class customers and government focus are the main factors behind such trend. Moreover, low penetration level and large number of consumers will play a critical role in the development of the credit and debit card market. It is anticipated that the premium credit card market will grow at a CAGR of around 59% during FY 2010-FY 2013 on the back of rising middle class income and rapidly increasing Internet access.

The concept of chip based payment card is new in the country. The use of smart card is being promoted on a large scale as the future of secure payment transactions. Many banks have started issuing smart cards and some banks are running pilot projects to analyze market opportunities. In 2009, SBI has identified 27 pilot projects most of which were in the rural areas.

We have found that Mobile ATMs, Micro ATMs and prepaid cards have also been growing for the past few years. The future prospects of these new concepts are optimistic. The report also analyses the current position of the Indian financial cards like debit cards, credit cards, POS terminals, etc. Besides, the report has outlined those factors which may hinder growth in the Indian payment card market.

"Indian Payment Card Market Forecast to 2012" provides detailed and prudent analysis of the Indian payment card industry along with statistical data. The report has broadly defined many drivers which will continue to provide impetus to the industry. It analyses the industry forecast in various segments like credit cards and debit cards highlighting responsible factors behind the future outlook. The report also covers a brief overview of big players. In-depth analysis and broad segment coverage are some of the features which will help clients to understand the structure of Indian payment card market.

Report/IM006

About RNCOS
RNCOS (rncos.com) specializes in Industry intelligence and creative solutions for contemporary business segments. Our professionals study and analyze the industry and its various components, with comprehensive study of the changing market behavior. Our accuracy and data precision proves beneficial in terms of pricing and time management that assist the consultants in meeting their objectives in a cost-effective and timely manner.

 
 
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Credit Card to Fuel Indian Payment Card Market Finds RNCOS

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