India: value of card payments by type 2023

The value of debit card payments in India for fiscal year 2023 was approximately seven trillion Indian rupees, while the value of credit card based payment was more than 14 trillion Indian rupees during the same time period. The consistent utilization of card payments can be attributed to the initiatives made by the government, aspiring to make India a cashless economy. The Indian digital payments market was estimated to reach the one trillion U.S. dollar mark by 2023.

Value of online card payments in India from financial year 2018 to 2023, by type (in trillion Indian rupees)

Characteristic	Credit card	Debit card
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Release date

May 2023

More information

Region

India

Survey time period

FY 2018 to FY 2023

Supplementary notes

*The figures for cards are for transactions at point of sale (POS) terminals only which include online transactions.
India's financial year begins in April and ends in March. For example, FY 2016 started in April 2015 and ended in March 2016.

One Indian rupee is equal to 0.011 euros and 0.012 U.S. dollars (as of July 2023).

Values have been rounded.

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