Credit and debit cards for Rs. 29,000 crore spent

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Mumbai: Credit and debit card e-shopping is on the rise among Indian consumers. For the first time, the Reserve Bank of India (RBI) has released data on card spends (debit, credit card expenses) on e-commerce for the first time in 15 days. According to the report, in the first 15 days of October, Indians have made card payments worth Rs 2,171.5 crore. Until now, the card cost figures for e-commerce and point-of-sale terminals have been linked together.

During the first 15 days of October, credit card spending on e-commerce stood at Rs 15,612.5 crore, while debit card payments on e-commerce for the same period amounted to Rs 4,606.10 crore.

During the 15 days of October, Rs 10.50 crore was spent on point-of-sale credit cards and Rs 191.50 crore on debit cards.

E-commerce companies started festival season sales in the first week of October.

If we look at the card payment figures for the previous month, in September 2021, e-commerce and points of sales were spent on credit cards at Rs 4,6.51 crore and debit cards at Rs 21,201.00 crore.

In the first 15 days of October, the total expenditure on credit cards stood at Rs 20.3.5 crore and the total expenditure on debit cards stood at Rs 4,04.5 crore.

Bankers said about 50 per cent of credit cards are issued only in the top 20 cities. Online and e-commerce orders are also on the rise in Tier-3 and Tier-2 cities due to the Corona epidemic.

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