The digital payments market in India was valued at <span class='webrupee'>₹</span>1,638 trillion in FY 2019 and is expected to grow to <span class='webrupee'>₹</span>4,323 trillion by FY 2024, which is a compounded annual growth rate of about 22 per cent, according to a recent report by KPMG.
The digital payments market in India was valued at 1,638 trillion in FY 2019 and is expected to grow to 4,323 trillion by FY 2024, which is a compounded annual growth rate of about 22 per cent, according to a recent report by KPMG.

Your search for a Credit Card ends at Finserv MARKETS!

The portal allows you to view credit cards from different companies, compare and select the one that suits your needs.
By HT Brand Studio
PUBLISHED ON MAR 04, 2021 01:11 PM IST

There has been a steady transition towards cashless payment modes in India over the last few years. The Covid-19 pandemic and resultant hesitation in handling cash payments has only boosted adoption of cashless payment modes further, with credit cards emerging as a preferred way of making payments, both offline and online. The digital payments market in India was valued at 1,638 trillion in FY 2019 and is expected to grow to 4,323 trillion by FY 2024, which is a compounded annual growth rate of about 22 per cent, according to a recent report by KPMG. Growth in credit card usage is also expected to be one of the contributors to this trend.

Rise in demand for credit cards

In the aftermath of the Covid-19 pandemic, digital payments witnessed a boost. Even those who were not technologically savvy came up the digital payments curve. As a result, the demand for new credit cards has seen a steep rise. As per the data from the Reserve Bank of India, the number of credit card users increased by around 8 million, from around 52 million in 2019 to over 60 million by the end of 2020.

According to information released by credit information company TransUnion CIBIL, the inquiries for new credit cards for October 2020 were 106 per cent more than the queries in the same month in 2019. This increase in demand clearly indicates the rapid growth in credit card adoption in India.

Selecting the right credit card

With a plethora of credit cards available to choose from, picking the right one for your exact needs can be a daunting exercise.

In such a scenario, Finserv MARKETS offers a one-stop solution for you to shortlist and choose the credit card that best suits your needs. All you need to do is share a few details on the Finserv MARKETS website or Finserv MARKETS App, check for the list of credit cards offered by various banks or card companies along with their features, fees and pre-approved offers and select the one that best fits your requirement.

Thereafter, upload the necessary documents and you can get an instant approval for a credit card of your choice.

Why should you choose your credit card from Finserv MARKETS?

Finserv MARKETS is a financial products marketplace and partners with leading financial institutions that are known for their superior set of products.

While you can choose from a range of cards like SBI Credit Card, RBL Credit Card, among others, you should also look for credit card benefits that meet your specific needs. For example, if your lifestyle involves a lot of traveling, the RBL Bank Travel Easy SuperCard gives you a 10 per cent cashback on your travel spends which includes cab rides and fuel expenses. Similarly, SBI Prime Credit Card, grants you four complimentary visits every year to International Priority Pass Lounges at airports outside India and eight complimentary visits to domestic VISA/Mastercard Lounges anywhere within India.

You can compare the different credit cards available on the Finserv MARKETS website and choose from the various categories such as free or paid credit cards, cards specific to lifestyle purposes or for fuel, among others.

While some entry-level credit cards might not have an annual fee, some cards with customized solutions to your needs could have some annual charges or other fees. You can take an informed decision after you check and compare these charges on specific cards through the Finserv MARKETS platform.

Applying for a credit card through Finserv MARKETS could also make you eligible to receive exciting welcome gifts or bonus reward points based on the card offers available on the website.

So whether you are looking for a secure cashless payment option or you want to gather additional reward points associated with your spending, log on to Finserv MARKETS and select the option that is right for you.

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