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

Great milestone

8mo ago

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SparklyQuokka

PayTM8mo

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.

DancingDonut

Stealth8mo

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.

SparklyQuokka

PayTM8mo

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.

GoofyDonut

Stealth8mo

Grapeviners hoarding at least a dozen cards each: 👀

DancingDonut

Stealth8mo

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.