The above graph represents the monthly distribution of credit card transactions in India by volume and value. In July 2019, India recorded its highest-ever volume of 179.27 million transactions through credit cards, which were valued at Rs 600.2 billion. That’s a notable 9.3% and 4.7% month-over-month increase in credit card transactions volume and value, respectively.

RegionIndia
SourceReserve Bank of India (RBI)
Last Updated16 September 2019
Graph ID453
DurationApril 2004 to July 2019

One must note that the highest amount of money transacted through credit cards in a single month was Rs 617 billion in May 2019.

As the graph shows, the usage of credit cards spiked in the month of December 2016, primarily due to the demonetisation. The credit card transaction volume increased to 116.46 million (valued at Rs 312.37 billion) in December, from 98.31 million (valued at Rs 266.99 billion) in November 2016. That’s an appreciable 18.5% month-over-month growth in volume. Since then the figure has been hovering above 100 million, except in February 2017 when only 95.35 million transactions were recorded in the country.

On the other hand, the credit card transactions in value crossed Rs 500 billion mark for the first time in October 2018. About Rs 566.02 billion amount was transacted through credit cards in India in the month of October, from Rs 464.79 billion in the previous month.

Digital Transactions In India: Additional Information

The internet revolution has resulted in exploded adoption of digital methods of transactions worldwide. The users of Credit & Debit cards, mobile and internet nowadays are far more aware and digitally empowered with making financial transactions. In the last few years, however, digital transactions have branched out into multiple types of financial transactions.

Started with the use of Credit and Debit cards at POS in large retail stores, digital transactions industry has come a long way. The introduction of mobile wallets and UPI have transformed the whole digital transaction industry in India. RTGS (Real Time Gross Settlement), NEFT (National Electronic Fund Transfer), CTS (Cheque Truncation System), IMPS (Immediate Payment Service), NACH (National Automated Clearing House), UPI (Unified Payments Interface) and PPI (Prepaid Payment Instruments) are the main type of financial transactions that fall under the Digital transaction category.

Digital transactions save time and money, resulting in a better bottom line. Customer experiences are also enhanced (think of the convenience of eSigning versus having to print a contract, sign it, and then return it by mail or fax). And digital transactions improve tracking capabilities, which helps reduce errors.

The exploded adoption of smartphones, mobile apps and mobile internet has helped Digital transaction industry to grow at an unprecedented rate. With more than 500 million smartphone users, India is one of the largest countries by the number of digital transactions that are recorded every month.


The above graph is a part of Dazeinfo GraphFarm – the most trusted source of hundreds of thousands of market graphs. Our team of researchers mines millions of data points every month to bring the most updated and validated set of data points representing the comprehensive view in a graphical format. From mobile to e-commerce, from Retail to healthcare, from startups to SMEs we have carefully designed thousands of graphs for those who value and understand the importance of data visualisation.

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