More people in India are turning to credit and charging cards for daily expenses, and this change should push the market exceeding $ 300 billion in 2025. The total value of payments made by credit and load cards should increase by 14% in 2025, reaching $ 25.4 billion ($ 303.9 billion). Many people now prefer digital payments to species, according to a GlobalData report, a leading data and analysis company.
India has experienced a sharp increase in credit card expenditure in recent years. In 2023, it increased by almost 28% and in 2024, by more than 15%. Even with global uncertainty like recent American rates, the trend should continue. Ravi Sharma, main analyst of banks and payments to GlobalData, explained the change: “Despite the drop in penetration that debit cards, credit and discount cards are very privileged for payments. campaigns, the adoption and use of credit cards are increasing. »»
One of the reasons why credit cards are becoming popular is cashback, discounts and additional rewards. In 2024, credit and load cards represented 81% of the total value of card payments in the country. Another factor is flexibility. Many banks now allow people to convert large purchases into easy monthly payments. For example, Axis Bank allows users of the card to divide payments over 6 to 24 months. HDFC Bank goes further with its intelligent EMI plan, offering payment options from 6 to 48 months.
Online purchases also push this growth. In 2024, credit and load cards were used for 11.2% of all electronic trade expenditure in India. The advantages attached to online payments with these cards help to stimulate the trend. In June 2025, the Bank of India reserve reduced the main interest rate by 0.5%, which reduced it to 5.5%. This could mean lower interest in loans, including those on credit cards. With the softening of inflation and the economy that is doing well, more people can be encouraged to attribute to credit, which gives another boost to the market.
Sharma said: “In the future, the India market for credit payments and delivery card is ready for continuous expansion. The current cash flow passage, the availability of price services on credit and pay cards 2029.
