Indian Prepaid & Debit Cards Market becoming More Competitive, Finds Timetric05 Sep 2012 • by Natalie Aster
The Indian prepaid and debit card market registered significant growth during the review period (2007–2011), with the combined card volume recorded a growth of 31% in 2011 over figures from 2010. Changing lifestyle demographics, the need for more sophisticated products, the growth of online shopping and increasing levels of per capita income supported the growth of this market. During the review period, the market size of debit cards in term of volume increased at a CAGR of 28.38% while, in volume terms, the market size of prepaid cards recorded a CAGR of 75.21%.
The new report "The Indian Prepaid and Debit Cards Market" by Timetric states that many Indian banks have been expanding their networks of automatic teller machines (ATMs) in order to develop their business. Part of this expansion has involved installing point of sale (POS) terminals, which are electronic data-capture swipe machines and accept both debit and credit card payments at retail outlets. With competitive pressures on both the prepaid and debit cards market, banks and issuers are developing marketing and pricing strategies with the aim of attracting larger customer bases. Offers such as cash-back, discounts for retail outlets, buy-one-get-one-free offers, rewards points, increasing daily limits for cash withdrawals and insurance coverage are some of the most common strategies that banks are providing to debit and prepaid card customers.
The Indian Prepaid and Debit Cards Market
Published: August, 2012
Price: US$ 3.800,00
Key highlights of this title:
- The Indian debit and prepaid cards market grew substantially both in volume and value terms during the review period
- Growth in payment infrastructure has supported increased levels of card usage
- Online retail market to drive the use of prepaid and debit cards
- Consumer preference plays a key role in purchasing decisions
- Domestic payment scheme, RuPay, to compete with Visa and MasterCard
- Entry of non-banking companies to support growth
- Use of corporate prepaid travel cards to support growth over the forecast period
More information can be found in the report “The Indian Prepaid and Debit Cards Market” by Timetric.
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