We at CardBhai continuously use lot of data from RBI for internal Research Purpose. Excerpts of this research is made available to you.
During the Last Financial Year – Apr-2009 to March-2010, Indians spent a total of Rs 62,872.23 cr [USD 13.97] on Credit Cards and Rs 26,172.45 cr [ USD 5.81 Bn] using their Debit Cards. Most of the transaction was reported on VISA and MASTERCARD. Debit Card Purchases saw big leap from USD 4.1 Bn in FY 2008-09 to USD 5.81 Bn in FY 2009-10.
The Total Plastics Card Market in India during the last Financial Year was USD 19.78 Bn marginally up from USD 18.64 Bn in FY 2008-09.
Additionally, we wanted to know the size ticket of each of the transactions. Data from RBI suggests us that – The Average Credit Card Transaction was worthy of Rs 2676.54 up from Rs 2517.52 in FY 2008-09. The Average Debit Card Transaction was worthy of Rs 1553.26 up from Rs 1453.52 in FY 2008-09.
Indian still transact a lot in Cash due to the failure on the part of successive Governments to encourage an ecosystem for e-money and curb blackmoney, which is running as a parallel economy with support from vested interests within the Government.