Global News

[ad_1] Card issuers and payment processors must prioritise adaptability, personalisation, and secure solutions to safeguard consumers' financial well-being in this rapidly changing environment. As the industry continues to evolve, several key trends have shaped the market landscape, fueling its growth in the recent year. By Shailendra Singh In the dynamic landscape of credit cards, the year 2023 proved to be a pivotal period marked by substantial growth and evolution, particularly in India. The sector witnessed notable transformations driven by shifts in consumer preferences and economic dynamics, leaving an indelible mark on the market. According to the Reserve Bank of India (RBI), credit card usage in India experienced a remarkable surge, reaching a historic high of Rs 1.78 lakh crore in October 2023. This surge, fueled by robust consumer activity during the festive season, is indicative of a broader trend in the market. Projections suggest that the number of credit card use...