Debit card transactions in India decline, while there is a continued increase in spending using credit cards. ...Middle East

The payment landscape in India is undergoing a significant transformation, with debit card transactions witnessing a sharp decline in the first half of 2023. In contrast, credit card spending continues to surge, reflecting changing consumer preferences and the impact of innovative payment technologies. Debit card transactions fell significantly compared to the same period in 2022, while credit card transactions saw an impressive 19.6% increase. However, credit cards remain desirable for high-value transactions and the added benefits they provide, such as grace periods for payments and installment options. In this article, we delve into the factors driving this trend, the growth of UPI trans

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