India set to see $300 billion in credit card payments in 2025: GlobalData

More people in India resort to credit cards and fees for daily spending, and this shift to the market beyond $ 300 billion in 2025 is expected. The total value of payments is expected to grow through credit cards and fees by 14 % in 2025, and reaches 25.4 trillion dollars (303.9 billion dollars). This is because many people now prefer digital payments to cash, according to a report issued by Globaldata, a leading company in data and analyzes.

India has seen a strong leap in spending credit card in recent years. In 2023, it increased by approximately 28 %, and in 2024, by more than 15 %. Even with universal uncertainty like recent US definitions, the direction is expected to continue. “Although the hacking of discount cards is low, credit cards and fees are very favorite of payments. The payment of these cards is 54.2 times a year in 2025, and credit cards exceeded that, while increasing the benefits that depend on the remaining benefits. Credit is high. “

One of the reasons that make credit cards common is additional benefits for connecting money, discounts and rewards. In 2024, credit and fees cards accounted for 81 % of the total value of cards payments in the country. Another factor is flexibility. Many banks now allow people to convert large purchases into easy monthly payments. For example, Axis Bank allows card users to divide payments more than 6 to 24 months. HDFC Bank goes forward with the EMI smart plan, as it offers installments from 6 to 48 months.

Online shopping also drives this growth. In 2024, credit and fees cards were used by 11.2 % of all spending on e -commerce in India. The online payments associated with these cards help lead the direction. In June 2025, the Indian Reserve Bank reduced the main interest rate by 0.5 %, which led to a reduction to 5.5 %. This may mean a decrease in the interest on loans, including those on credit cards. With inflation and economy well facilitating, more people may be encouraged to obtain credit, while giving another boost to the market.

“Given the front, the credit and fee payment markets market in India is preparing for the continued expansion. It is expected that the continuous shift from cash to electronic payments, and the availability of pricing benefits on credit cards and fees, and increasing the merchant acceptance to an increase in the number of projects in credit ($ 470). 2029.