Personal Finance13mo
by SillyDonutTCS
HDFC 1st to reach 2cr Credit Cards.
Fastmover advantage was with SBI and ICICI.
29% market share of spend 21% CC volume share.
Do u have 1 HDFC card in wallet?
I don't have one, but own 7 CCs.
PeppyKoala
Credit card spends market share by bank. Why is there no Federal Bank here?
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?
11mo ago
CosmicQuokka
Paralleldots11mo
icici in top 3 is surprising, considering they've inferior offerings even if compared to axis/indusind
GroovyDonut
Amazon 🥱🥱🥱
GoofyTaco
Highradius11mo
Amazon partnership I guess, really useful if you order regularly.
QuirkyDumpling
MSCI11mo
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.
DizzyLlama
Atlys11mo
Well I don't. Icici doesn't deserve to be on top, though I can imagine the reasons it is on top
QuirkyDumpling
MSCI11mo
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.
SparklyCoconut
Amazon11mo
I would have expected SBI to grow much faster after the launch of CASHBACK card. Its the best card for online payments.
SqueakyQuokka
Stealth11mo
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
SnoozyWalrus
Razorpay11mo
SBI Cards suck, but they re still on Top coz of targeted offerings and value prop.
HDFC is a tempting card with lot of rewards
Axis though is for the affluent
SillyKoala
PayTM11mo
@HeavyFuture ,you can directly download this data from the RBI website
JazzyBanana
Stealth11mo
.. because their spends are low? What part is confusing?
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