Demand for RuPay credit cards rise 37% Q-o-Q in July-September
The demand for RuPay credit cards rose 37% quarter-on-quarter (q-o-q) in July-September due to a rise in demand in tier 2, tier-3, and tier-4 towns and cities, according to a recent study by financial technology platform Zet.
The study covered 706 small towns and cities. Nearly 37% of the cards issued through the Zet platform in small towns and cities during July-September was for the RuPay network, followed by Mastercard at 32%, and Visa at 31%, the study showed.
The top 10 cities that witnessed the maximum demand for RuPay cards were Jaipur, Meerut, Surat, Nagpur, Ranchi, Raipur, Varanasi, Indore, Kanpur, and Jhansi.
In 2022, RBI allowed individuals to link their credit cards to the unified payments interface (UPI) after which, customers can use their cards to make UPI payments.
Among the banks distributing RuPay cards, the most preferred are Axis Bank, HDFC Bank, and State Bank of India(SBI).
Read more on financialexpress.com
