100m Credit Cards in India. 😱 Next decade belongs to Consumers

Great milestone

Jordon Dean

Paytm

7 months ago

Different perspective: With credit card companies coming up with new rules for lounge access,the usability will be only limited as today there is no upper cap for getting rewards for most of these cards. Also UPI linking of credit cards ( once Visa, Mastercard) get a certification. Then only the real sense of transaction volumes can go up. Like paying a mom n pop store via CC by scanning a QR code.Ofcourse the MDR will also play but as per the current situation ,small merchants are not ready to pay any fees ,they want absolutely free as they are getting for UPI.

Isaiah Taye

Stealth

7 months ago

Depends honestly. Uska agar customer Jane lagega to woh pay karega. You would know better, but if you look at Pix in Brazil, they charge 40bps MDR on Pix transactions and merchants are okay with that. At least 20-25bps to allow kar degi sarkar. They don't want to shell out 250-300Cr every year as subvention.

Blair Nadeen

Paytm

7 months ago

PIX in Brazil is implemented just like UPI,it's a replica ,but to scale up I don't think so they first given that option for free and later they started charging . Here in India ,the sentiments of the merchants are like if we are getting this for free then we do not want to pay for this. Example is Credit line on UPI .there is a lot of resistance amoulng the merchants to accept that mode of payments.

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Aaron Carmden

Paytm

7 months ago

I wonder what's the median spend on these credit cards. I feel like lots of these cards are being issued just for lounge access

Kendall Lee

Stealth

7 months ago

Median to mushkil hai. Average pata lag sakta hai

Jordon Lee

Stealth

7 months ago

What's the number for Paytm cards? 20k?

Matilda Gabriel

Freelancer

7 months ago

90% of those would be entry level cards / LTF ones. We need better cards which rewards everywhere with capping set so that people don't exploit it

Kalan Lee

Fintech Startup

7 months ago

Grapeviners hoarding at least a dozen cards each: 👀

Jordon Olive

Stealth

7 months ago

I have a friend with 18 cards. His constant nightmare is that when a card expires, then will he be able to renew if they do BGV by mistake. He literally can vanish with 50L any time he wants.

Karilyn Everett

Freelancer

7 months ago

Mai hi hu woh friend🤣