NewswireToday - /newswire/ -
Noida, Uttar Pradesh, India, 2010/11/25 - The number of debit cards issued by banks is forecasted to grow at a CAGR of around 27% during 2010 - 2013, says a new report from RNCOS.
With continuous rise in middle class households and shift in consumer spending pattern, the Indian payment card market, which includes both credit cards and debit cards, has been growing rapidly for the past few years. This huge demand for payment cards is providing tremendous growth opportunities for card issuers, suppliers, and manufacturers, according to our new research report "Indian Payment Card Market Forecast to 2012”.
Our in depth analysis of the Indian payment card market has found that, the number of debit cards issued by banks will grow at a CAGR of around 27% during 2011 - 2013. It is also anticipated that the future prospects of the industry will remain buoyant, owing to low payment card penetration coupled with surge in card spending due to rising income levels of the Indian population. Moreover, consumer’s preference to use cards over cash due to its safety and easy access will further boost the industry’s growth.
Besides, our report has covered every aspect of the Indian payment card market by segmenting it into debit cards, credit cards, prepaid cards, POS terminals, and ATM networks. To provide in depth analysis of the market, the credit card market is further segmented into premium credit cards and EMV cards.
“Indian Payment Card Market Forecast to 2012” provides an extensive research and rational analysis along with reliable statistics of the Indian payment card market. The report has thoroughly examined current market trends, industrial developments, and competitive landscape to enable clients understand the market structure and its progress in coming years. Besides, the report presents brief overview of the key market players dominating the industry.
Future outlook presented in the report has been analyzed considering the probable post-recession impact on the industry. It will enable clients to have a proper insight into the current and future outlook of credit card market in developing economies.
RNCOS (rncos.com) specializes in Industry intelligence and creative solutions for contemporary business segments. Our professionals study and analyze the industry and its various components, with comprehensive study of the changing market behavior. Our accuracy and data precision proves beneficial in terms of pricing and time management that assist the consultants in meeting their objectives in a cost-effective and timely manner.