Synopsis

The report provides market analysis, information and insights into India’s cards and payments industry, including:
• Current and forecast values for each category of India’s cards and payments industry including debit cards, credit cards, prepaid cards and charge cards.
• Comprehensive analysis of the industry’s market attractiveness and future growth areas.
• Analysis of various market drivers and regulations governing India’s cards and payments industry.
• Detailed analysis of the marketing strategies adopted for selling debit, credit, charge and prepaid cards used by various bankers and other institutions in the market.
• Comprehensive analysis of consumer attitudes and their buying preferences for cards.
• Competitive landscape of India’s cards and payments industry.

Summary

The Indian cards and payments industry registered significant growth during the review period (2008–2012). The card payments channel grew at a CAGR of 27.05%, to reach 456.8 million cards in circulation by the end of 2012. In value terms, the card payments channel valued INR19.4 trillion (US$363.0 billion) in 2012. Changing lifestyle demographics, increased popularity of online shopping and higher disposable income per capita supported the growth of cards in circulation. Many Indian banks expanded their networks of automated teller machines (ATMs) during the review period. Part of this expansion involved installing point-of-sale (POS) terminals that accept both debit and credit card payments. Nationally, these terminals registered a CAGR of 17.21% during the review period, increasing from 448,000 terminals in 2008 to 845,653 in 2012. The number of ATMs installed increased at a review-period CAGR of 27.13%, from 43,651 in 2008 to 114,014 in 2012.

Scope

• This report provides a comprehensive analysis of India’s cards and payments industry.
• It provides current values for India’s cards and payments industry for 2012 and forecast figures for 2017.
• It details the different macroeconomic, infrastructural, consumer and business drivers affecting India’s cards and payments industry.
• It outlines the current regulatory framework in the industry.
• It details the marketing strategies used by various bankers and other institutions.
• It profiles the major banks in India’s cards and payments industry.

Reasons To Buy

• Make strategic business decisions using historic and forecast market data related to India’s cards and payments industry and each market within it.
• Understand the key market trends and growth opportunities within India’s cards and payments industry.
• Assess the competitive dynamics in India’s cards and payments industry.
• Gain insights into the marketing strategies used for selling various types of cards in India.
• Gain insights into key regulations governing India’s cards and payment industry.

Key Highlights

• India is the fourth-largest country in terms of the number of resident high net worth individuals (HNWIs). By the end of December 2012, the country had 290,552 HNWIs, and this number is projected to reach 547,893 by 2016. To capitalize on this growing niche segment, banks and card issuers are making a significant effort to target this group as HNWIs traditionally show a greater willingness to use non-cash payment methods such as credit, debit and prepaid cards.
• According to 2012 RBI estimates, around 43.8% of the Indian population remains unbanked, and rely heavily on cash transactions. Of the total unbanked population, INR46.5 trillion (US$869.8 billion) worth of cash transactions were registered in 2012. RBI regulations relating to financial inclusion mean that banks are presented with a significant opportunity to target and market prepaid card products, especially in rural areas.
• To increase card usage, the Reserve Bank of India (RBI) capped the Merchant Discount Rate (MDR) for debit card transactions at 0.75% for any transaction below INR2,000 (US$37.4), and 1% for any transaction above INR2,000 (US$37.4) in June 2012 from the earlier MDR charges of 1–2.5%.
• The Indian cards and payments industry registered significant growth during the review period (2008–2012). The card payments channel grew at a CAGR of 27.05%, to reach 456.8 million cards in circulation by the end of 2012. In value terms, the card payments channel valued INR19.4 trillion (US$363.0 billion) in 2012.

Table Of Contents

Table of Contents
1 Executive Summary
2 Analysis of Industry Environment, Key Trends and Drivers
2.1 Payment Infrastructure and Emerging Technologies
2.1.1 ATMs
2.1.2 POSs
2.1.3 EMV
2.1.4 Internet penetration
2.1.5 Near-field communication (NFC)
2.1.6 Mobile payments
2.2 Business Drivers
2.2.1 Competitive pressure
2.2.2 Online trade dynamics
2.2.3 Retail dynamics
2.3 Economic Drivers
2.3.1 GDP
2.3.2 Inflation
2.3.3 GDP per capita income
3 Cards and Payments Industry Share Analysis
3.1 Overview of the Cards and Payments Industry
3.1.1 Cash
3.1.2 Checks
3.1.3 Card payments
3.1.4 Direct debit
3.1.5 Credit transfer
4 Regulatory Framework and Card Fraud Statistics
4.1 Regulatory Framework
4.1.1 Security regulations and guidelines
4.1.2 Foreign direct investment (FDI) regulations
4.2 Card Fraud Statistics
4.2.1 Card-not-present fraud
4.2.2 Counterfeit cards
4.2.3 Cards lost or stolen
5 Emerging Consumer Attitudes and Trends
5.1 Industry Segmentation and Targeting
5.1.1 Retail customers
5.1.2 Corporate users
5.2 Travel and Tourism Spending
5.2.1 Outbound tourist volume
5.2.2 Outbound tourist spending
5.2.3 Outbound tourist card spending
5.3 Retail Card Spending
5.3.1 Analysis by product categories
5.3.2 Analysis by retail channels
6 Analysis of Card Payments Channel and Growth Prospects
6.1 Channel Share Analysis by Card Category
6.2 Size and Forecast of the Card Payments Channel
6.2.1 Analysis by number of cards in circulation
6.2.2 Analysis by transaction value
7 Analysis of Credit Card Payments and Growth Prospects
7.1 Overall Category Size and Forecast
7.1.1 Analysis by volume of cards in circulation
7.1.2 Analysis by transaction value
7.1.3 Analysis by transaction volume
7.2 Transaction Share Analysis by Channel
7.2.1 Analysis by transaction value
7.2.2 Analysis by transaction volume
7.3 Personal Credit Cards Size and Forecast
7.3.1 Analysis by volume of cards in circulation
7.3.2 Analysis by transaction value
7.3.3 Analysis by transaction volume
7.4 Commercial Credit Cards Sub-Category Size and Forecast
7.4.1 Analysis by number of cards in circulation
7.4.2 Analysis by transaction value
7.4.3 Analysis by transaction volume
7.5 Competitive Landscape
7.5.1 Scheme share analysis
7.5.2 Issuer share analysis
8 Analysis of Debit Card Payments and Growth Prospects
8.1 Overall Category Size and Forecast
8.1.1 Analysis by number of cards in circulation
8.1.2 Analysis by transaction value
8.1.3 Analysis by transaction volume
8.2 Transaction Share Analysis by Channel
8.2.1 Analysis by transaction value
8.2.2 Analysis by transaction volume
8.3 Competitive Landscape
8.3.1 Scheme share analysis
8.3.2 Issuer share analysis
9 Analysis of Charge Card Payments and Growth Prospects
9.1 Overall Category Size and Forecast
9.1.1 Analysis by number of cards in circulation
9.1.2 Analysis by transaction value
9.1.3 Analysis by transaction volume
9.2 Transaction Share Analysis by Channel
9.2.1 Analysis by transaction value
9.2.2 Analysis by transaction volume
9.3 Personal Charge Cards Segment Size and Forecast
9.3.1 Analysis by number of cards in circulation
9.3.2 Analysis by transaction value
9.3.3 Analysis by transaction volume
9.4 Commercial Charge Cards Sub-Category Size and Forecast
9.4.1 Analysis by volume of cards in circulation
9.4.2 Analysis by transaction value
9.4.3 Analysis by transaction volume
9.5 Competitive Landscape
9.5.1 Scheme share analysis
9.5.2 Issuer share analysis
10 Analysis of Prepaid Card Payments and Growth Prospects
10.1 Overall Category Size and Forecast
10.1.1 Analysis by number of cards in circulation
10.1.2 Analysis by transaction value
10.2 Open-Loop Prepaid Cards Segment Size and Forecast
10.2.1 Analysis by number of cards in circulation
10.2.2 Analysis by transaction value
10.3 Closed-Loop Prepaid Cards Segment Size and Forecast
10.3.1 Analysis by number of cards in circulation
10.3.2 Analysis by transaction value
11 Merchant Acquiring
11.1 Merchant Acquirers in the Country
12 Company Profiles of Card Issuers
12.1 State Bank of India (SBI)
12.1.1 Key financials
12.1.2 Card portfolio
12.1.3 Strategies
12.2 ICICI Bank Ltd
12.2.1 Key financials
12.2.2 Card portfolio
12.2.3 Strategies
12.3 HDFC Bank
12.3.1 Key financials
12.3.2 Card portfolio
12.3.3 Strategies
12.4 Axis Bank
12.4.1 Key financials
12.4.2 Card portfolio
12.4.3 Strategies
12.5 Citibank
12.5.1 Card portfolio
12.5.2 Strategies
13 Appendix
13.1 Methodology
13.2 Definitions
13.3 Contact Timetric
13.4 About Timetric
13.5 Timetric’s Services
13.6 Disclaimer


List of Tables

Table 1: Indian Payment Channels (INR Billion), 2008-2012
Table 2: Market Entry Strategy of Foreign Banks in India
Table 3: Indian Card Fraud (INR Million), 2008-2012
Table 4: Specialized Credit Cards for Women
Table 5: Specialized Debit Cards for Women
Table 6: Debit Cards Offered to HNWIs
Table 7: Co-branded Credit Cards
Table 8: Prepaid Cards for Outbound Business Tourists
Table 9: Indian Consumer Card Spending by Product Category (INR Million), 2008-2012
Table 10: Indian Consumer Card Spending by Retail Channel (INR Million), 2008-2017
Table 11: Indian Card Payments Channel by Card Category (Thousands), 2008-2017
Table 12: Indian Card Payments Channel Size by Volume of Cards (Million), 2008-2017
Table 13: Indian Card Payments Channel Size by Transaction Value (INR Trillion), 2008-2017
Table 14: Indian Card Payments Channel Size by Transaction Value (US$ Billion), 2008-2017
Table 15: Indian Credit Cards Category Size by Volume of Cards (Million), 2008-2017
Table 16: Indian Credit Cards Category Size by Transaction Value (INR Billion), 2008-2017
Table 17: Indian Credit Cards Category Size by Transaction Value (US$ Billion), 2008-2017
Table 18: Indian Credit Card Category Size by Transactions Volume (Million), 2008-2017
Table 19: Indian Personal Credit Cards Sub-Category Size by Volume of Cards (Million), 2008-2017
Table 20: Indian Personal Credit Cards Sub-Category Size by Transaction Value (INR Billion),
Table 21: Indian Personal Credit Cards Sub-Category Size by Transaction Value (US$ Billion), 2008-2017
Table 22: Indian Personal Credit Cards Sub-Category Size by Number of Transactions (Million), 2008-2017
Table 23: Indian Commercial Credit Cards Sub-Category Size by Volume of Cards (Thousands), 2008-2017
Table 24: Indian Commercial Credit Cards Sub-Category Size by Transaction Value (INR Billion), 2008-2017
Table 25: Indian Commercial Credit Cards Sub-Category Size by Transaction Value (US$ Million),
Table 26: Indian Commercial Credit Cards Segment Size by Number of Transactions (Million),
Table 27: Indian Debit Card Category Size by Volume of Cards (Million), 2008-2017
Table 28: Indian Debit Cards Category Size by Transaction Value (INR Trillion), 2008-2017
Table 29: Indian Debit Cards Category Size by Transaction Value (US$ Billion), 2008-2017
Table 30: Indian Debit Cards Category Size by Volume of Transactions (Billion), 2008-2017
Table 31: Indian Charge Cards Category Size by Volume of Cards (Thousands), 2008-2017
Table 32: Indian Charge Cards Category Size by Transaction Value (INR Billion), 2008-2017
Table 33: Indian Charge Cards Category Size by Transaction Value (US$ Billion), 2008-2017
Table 34: Indian Charge Cards Category Size by Volume of Transactions (Million), 2008-2017
Table 35: Indian Personal Charge Cards Sub-Category Size by Volume of Cards (Thousands), 2008-2017
Table 36: Indian Personal Charge Cards Sub-Category Size by Transaction Value (INR Billion), 2008-2017
Table 37: Indian Personal Charge Cards Sub-Category Size by Transaction Value (US$ Million), 2008-2017
Table 38: Indian Personal Charge Cards Sub-Category Size by Transactions Volume (Thousands),
Table 39: Indian Commercial Charge Cards Sub-Category Size by Cards Volume (Thousands), 2008-2017
Table 40: Indian Commercial Charge Cards Sub-Category Size by Transaction Value (INR Billion),
Table 41: Indian Commercial Charge Cards Sub-Category Size by Transaction Value (US$ Billion),
Table 42: Indian Commercial Charge Cards Sub-Category Size by Transaction Volume (Million),
Table 43: Indian Prepaid Cards Category Size by Volume of Cards (Million), 2008-2017
Table 44: Indian Prepaid Cards Category Size by Transaction Value (INR Billion), 2008-2017
Table 45: Indian Prepaid Cards Category Size by Transaction Value (US$ Billion), 2008-2017
Table 46: Indian Open-Loop Prepaid Cards Segment Size by Volume of Cards (Million), 2008-2017
Table 47: Indian Open-Loop Prepaid Cards Segment Size by Transaction Value (INR Billion), 2008-2017
Table 48: Indian Open-Loop Prepaid Cards Segment Size by Transaction Value (US$ Million),
Table 49: Indian Closed-Loop Prepaid Cards Segment Size by Volume of Cards (Million), 2008-2017
Table 50: Indian Closed-Loop Prepaid Cards Segment Size by Transaction Value (INR Billion), 2008-2017
Table 51: Indian Closed-Loop Prepaid Cards Segment Size by Transaction Value (US$ Billion),
Table 52: State Bank of India’s Key Financial Indicators (INR Billion), March 2012 and 2013
Table 53: State Bank of India - Card Product Offerings and Key Features
Table 54: ICICI Bank Ltd’s Key Financial Indicators (INR Billion), March 2012 and 2013
Table 55: ICICI Bank Ltd - Card Product Offerings and Key Features
Table 56: HDFC Bank’s Key Financial Indicators (INR Billion), March 2012 and 2013
Table 57: HDFC Bank - Card Product Offerings and Key Features
Table 58: Axis Bank’s Key Financial Indicators (INR Billion), March 2012 and 2013
Table 59: Axis Bank - Card Product Offerings and Key Features
Table 60: Citibank - Card Product Offerings and Key Features
Table 61: Key Definitions


List of Figures
Figure 1: Benchmarking the Indian Payment Cards Channel Against Other Large Markets in the Region
Figure 2: India - Growth of Various Card Categories (%), 2008-2017
Figure 3: Indian ATMs Penetration per 100,000 Inhabitants, 2008-2017
Figure 4: Indian POS Penetration per 100,000 Inhabitants, 2008-2017
Figure 5: Indian Volume of Internet Users (Million), 2008-2012
Figure 6: Indian Value of M-Payments (US$ Million), 2009-2012
Figure 7: Indian GDP Growth Rate (%), 2008-2017
Figure 8: Indian Inflation Rate (%), 2008-2017
Figure 9: Indian GDP per Capita Income (US$), 2008-2017
Figure 10: Share of Indian Payment Channels (%), 2008 and 2012
Figure 11: Indian Card Fraud (INR Million), 2008 and 2012
Figure 12: Indian Value of Card-Not-Present Fraud (INR Million), 2008-2012
Figure 13: Indian Counterfeit Card Fraud Value (INR Million), 2008-2012
Figure 14: Indian Value of Card Fraud by Lost or Stolen Cards (INR Million), 2008-2012
Figure 15: Indian Cards and payments industry Segmentation by Card Type
Figure 16: Indian Volume of HNWIs (Thousands), 2008-2012
Figure 17: Indian Volume of Outbound Tourists (Million), 2008-2012
Figure 18: Indian Outbound Tourists Spending (INR Billion), 2008-2017
Figure 19: Indian Outbound Tourists Card Spending (US$ Million), 2012
Figure 20: Indian Retail Consumer Card Spending by Product Category (%), 2012
Figure 21: Indian Retail Consumer Card Spending by Retail Channel (%),2012
Figure 22: Indian Card Payments Channel by Card Category (%), 2008-2017
Figure 23: Indian Card Payments Channel Size by Volume of Cards (Million), 2008-2017
Figure 24: Indian Card Payments Channel Size by Transaction Value (INR Trillion), 2008-2017
Figure 25: Indian Credit Cards Penetration per 100 Inhabitants, 2008-2017
Figure 26: Indian Credit Cards Category Size by Volume of Cards (Million), 2008-2017
Figure 27: Indian Credit Cards Category Size by Transaction Value (INR Billion), 2008-2017
Figure 28: Indian Card Category Size by Transactions Volume (Million), 2008-2017
Figure 29: Indian Credit Card Transactions Value by Channel (INR Billion), 2008-2017
Figure 30: Credit Card Transactions Volume by Channel (Million), 2008-2017
Figure 31: Indian Personal Credit Cards Sub-Category Size by Volume of Cards (Million), 2008-2017
Figure 32: Indian Personal Credit Cards Sub-Category Size by Transaction Value (INR Billion), 2008-2017
Figure 33: Indian Personal Credit Cards Segment Size by Number of Transactions (Million), 2008-2017
Figure 34: Indian Commercial Credit Cards Sub-Category Size by Volume of Cards (Thousands), 2008-2017
Figure 35: Indian Commercial Credit Cards Sub-Category Size by Transaction Value (INR Million),
Figure 36: Indian Commercial Credit Cards Sub-Category Size by Number of Transactions (Million),
Figure 37: Indian Credit Cards Category Share by Scheme (%), 2012
Figure 38: Indian Credit Cards Category Share by Bank (%), 2012
Figure 39: Indian Debit Cards Category Penetration per 100 Inhabitants, 2008-2017
Figure 40: Indian Debit Card Category Size by Volume of Cards (Million), 2008-2017
Figure 41: Indian Debit Cards Category Size by Transaction Value (INR Trillion), 2008-2017
Figure 42: Indian Debit Cards Category Size by Volume of Transactions (Billion), 2008-2017
Figure 43: Indian Debit Cards Category Transactions Value Share Analysis by Channel (INR Billion),
Figure 44: Indian Debit Card Transactions Volume Share Analysis by Channel (Million), 2008-2017
Figure 45: Indian Debit Cards Category Share by Scheme (%), 2012
Figure 46: Indian Debit Cards Category Share by Bank (%), 2012
Figure 47: Indian Charge Cards Category Penetration per 1000 Inhabitants, 2008-2017
Figure 48: Indian Charge Card Category Size by Volume of Cards (Thousands), 2008-2017
Figure 49: Indian Charge Cards Category Size by Transaction Value (INR Billion), 2008-2017
Figure 50: Indian Charge Cards Category Size by Volume of Transactions (Million), 2008-2017
Figure 51: Indian Charge Card Transactions Value Share Analysis by Channel (INR Million), 2008-2017
Figure 52: Indian Charge Card Transactions Volume Share Analysis by Channel (Thousands),
Figure 53: Indian Personal Charge Cards Sub-Category Size by Volume of Cards (Thousands), 2008-2017
Figure 54: Indian Personal Charge Cards Sub-Category Size by Transaction Value (INR Billion), 2008-2017
Figure 55: Indian Personal Charge Cards Sub-Category Size by Transactions Volume (Thousands),
Figure 56: Indian Commercial Charge Cards Sub-Category Size by Cards Volume (Thousands), 2008-2017
Figure 57: Indian Commercial Charge Cards Sub-Category Size by Transaction Value (INR Billion),
Figure 58: Indian Commercial Charge Cards Sub-Category Size by Transaction Volume (Million),
Figure 59: Indian Charge Cards Category Share by Scheme (%), 2012
Figure 60: Indian Charge Cards Category Share by Scheme (%), 2012
Figure 61: Indian Prepaid Cards Category Penetration per 100 Inhabitants, 2008-2017
Figure 62: Indian Prepaid Cards Category Size by Volume of Cards (Million), 2008-2017
Figure 63: Indian Prepaid Cards Category Size by Transaction Value (INR Billion), 2008-2017
Figure 64: Indian Open-Loop Prepaid Cards Segment Size by Volume of Cards (Million), 2008-2017
Figure 65: Indian Open-Loop Prepaid Cards Segment Size by Transaction Value (INR Billion), 2008-2017
Figure 66: Indian Closed-Loop Prepaid Cards Segment Size by Volume of Cards (Million), 2008-2017
Figure 67: Indian Closed-Loop Prepaid Cards Segment Size by Transaction Value (INR Billion),
Figure 68: Indian Merchant Acquirers’ POS Terminals and Market Share (%), June 2013

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