Major card networks in India include Visa, Mastercard, American Express, RuPay and Diner’s Club. RBI asks banks to provide options for customers to select card networks
Types of Credit Card in India
- American Express
- Diners Club
What Credit Card Networks Do
- Determine where your card can be accepted.
- Approve and process the transactions.
- Act as a payment bridge between the merchant and the bank.
Usage of Credit Cards in different Countries
- Canara- 82.7%
- Isarel – 79%
- Iceland- 74%
- Hong Kong – 72%
- Japan- 69.7%
Usage of Credit Cards in India
- In India only 4% People Use Credit Cards standing 81st Position
- Each Month about 1Lakh Crore Credit Payments done
- Total Credit card in India 8.65 Crore.
- Total Credit Each Year is 2 Lakh Crore in India