HDFC, SBI, ICICI clearly the strongest. Startup credit companies usually work with Federal Bank, but they seem to be missing from this list, that's a bit weird?
Can somebody from the fintech domain help me understand?
Federal is in others. As per article below, they have 350k issuances, which puts it at 0.35% (100m CCs issued). So, yeah they couldn't make it to the top 17.
https://www.financialexpress.com/business/banking-finance-federal-bank-steps-up-efforts-to-grow-credit-card-biz-2951505/lite/#amp_tf=From%20%251%24s&aoh=17122989909408&referrer=https%3A%2F%2Fwww.google.com
What is that you are not able to understand bro, its very simple, start up companies have negligible market share, their cards are often useless and unsecured, backed by FD or some arrangement like that, have low credit limit, co-branded with these top tier banks, etc. While other banks like Federal bank etc are way behind in terms of their product features and tech wise. All the top companies have hero cards that you would have heard somewhere or sold by lots of fun-influencers, so this results is not at all surprising. Rather i would say that i am an avid cc user, i have about 7-10 active cards from various banks, i select these cards very carefully and also close and get new ones when necessary, from my cc portfolio, i agree why these should be on top.
Well I don't. Icici doesn't deserve to be on top, though I can imagine the reasons it is on top
If you judge market charts and stats from who deserves and who doesn't, everyone will have different answers, so as someone said, market is the god and what you see is the results. Icici amazon pay card would have more business in a year than most of the start ups and federal bank, etc.
I would have expected SBI to grow much faster after the launch of CASHBACK card. Its the best card for online payments.
SBI is quite stingy with giving cashback card and even with limits on it. My other cards have limit of 5-10L while SBI cashback has limit of 50k
Amazon is the sole reason why ICICI is in top
This isn't number of cards in circulation, it's the spends on the cards dude
