As of 2023, the number of cards with a delayed debit function in India was closely monitored due to emerging trends in the payment landscape. Moving into 2024, the forecast indicates a consistent upward trajectory reaching 657.82 thousand units. The year-on-year growth percentages for the subsequent years are approximately 1.70% in 2025, 1.63% in 2026, 1.57% in 2027, and 1.52% in 2028, culminating in a total of 701.03 thousand units.
This consistent year-on-year increase portrays a steady compound annual growth rate (CAGR) over the five-year period.
Future trends to watch for:
- Increasing consumer preference for digital payments over cash transactions.
- Technological advancements in credit and debit card functionalities.
- Impact of regulatory changes on payment card usage.
- Expansion in the rural financial sector increasing card adoption.
