The debit card base in India grew by 40% last year, thanks mainly due to Jan Dhan Yojana enrollments, a study conducted by payment processing company WorldLine India has found. The credit card base, too, swelled by 9.8%.
This apart, overall card spends in India posted a growth of 25%, with consumer spending Rs 1.9 lakh crore and Rs 1.2 lakh crore through credit cards and debit cards respectively, as per Worldline India Cards Payment report for 2014-15. Mobile Wallets and prepaid cash card accounted for 3% of total spends.
The study tracked use of debit and credit cards across channels like ATM and POS terminals as well as spending patterns of consumers. The average ticket size of credit card spends was Rs 3,089, while that of debit cards was just half of this at Rs 1,502