300% Spike in Cashless Transactions During Rs 500 / 1000 Demonetisation Drive of 2016

The Narendra Modi led government Demonetized highest value currency notes of Rs 1,000 and Rs 500 in November 2016. India primarily being a Cash Economy of which 50% is the parallel Black Money Economy, suffered during demonetization as their was total chaos on the availability of cash. Citizens had to rely on their Debit Cards […]

Why Consumers Spend More in Cashless Transactions ?

Academic research indicates that digital mediums (credit/debit cards, digital wallets, etc.,) do not have cash outflow vividness, and hence reduce the pain of payment during a transaction in comparison to cash. As pain of payment reduces, spending propensity increases. Also, when using these mediums, people are more likely to underestimate or forget the amount spent […]

Demonetization Effect – New Payment Platforms Grows

With the boldest move in the History of India, The Demonetisation of Rs 500 and Rs 1,000, the nation continues to see a gradual shift towards newer payment platforms which should help India move towards a less cash economy. Higher tax compliance as well as lower costs have the potential to accelerate this change, especially […]

Credit / Debit Card Acceptance on Rise as Indian Banks Push POS Terminals

Indians are increasingly spending Plastic Money – using Credit / Debit cards as RBIs favorable regulations has helped develop the Eco-system for Banks & Consumers as well. For Banks, Credit Cards has become a profitable portfolio and thus the race began with private banks beginning to be the end points for sale [POS] transaction which […]

Central Bank of India to Launch – Debit Cum Credit Card

State owned Central Bank of India has embarked on an innovative product for Indian Consumers – Debit Cum Credit Card which will be launched very shortly according to the management of the bank in a release to CardBhai. The Card will automatically act as a Credit Card when Customer’s Bank account Runs out of Funds […]

India’s Largest Issuer of Credit Cards – HDFC Bank

According to Data Received directly from the RBI [Dec-2010], the Banking Regulator, HDFC Bank has become the Largest issuer of Credit Cards in India. HDFC Bank has 4.77 Mn customers up