Usage of Credit Cards through ATMs and Pos Pre Demonetisation in India

Authors

  • B. Madhusudhan Naik
  • Nidhi Oswal

Abstract

Gobally Financial inclusion has moving very swiftly due to advancemt of technology, carrying trasactions becamed cushy to customer, business community and banks with using of debit cards, e-payments and credit cards. Government of India has implemented many fancial inclusion progammes in space of digital payments with aim to cashless India, usage of plastic money for shopping leads to vission of cashlees India. About 21% of Indians were used debit cards and 16% using credit for shopping before demonetisation. deep penetration of internet is also the reason for wider usage of digital payments, In early stage of credit card introduction Indian consumers were not usaged widely due to a fear of debt and higher interest rate on credit card dues, later it swiftly inceased usage. e-commerce, e-business, mobile commerce market are also the influencer of credit cards usage. The focal aim of this paper is to articulate progress of the outstanding credit cards of Indian scheduled commercial banks and its usage at various payment gateways such as ATMs and point of sales terminals before demonetisation.

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Published

2020-03-27

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Articles