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Card Transactions Increase 84% in September, Says Report
November 22, 2017
Credit card and debit card transactions jumped 84% by September-end on a year-over-year basis to Rs. 73,090 crores from last year’s Rs. 40,0130 crores, a recent study says.
As per the RBI data, as quoted by the European payments solutions provider Worldline, the volume of transactions at Point of Sale (PoS) devices also stood at 378 million in September 2017, an 86% jump from last year’s 203 million.
Worldline chief executive Deepak Chandnani said demonetization pushed the people to use non-cash modes of payments. He said that even as now the cash levels are settled to those of the pre-demonetization period, there is still visible growth in the card transactions.
