Noida, UP -- (SBWIRE) --06/26/2011 -- According to our research report “Indian Payment Card Market Forecast to 2012”, the number of credit cards issued by various banks in the country has been witnessing rapid growth. This has further fueled the growth of premium cards in the country. Premium credit cards are the cards loaded with a large number of benefits attracting High Networth Individuals. These cards include mainly Titanium, Platinum, and Signature credit cards. Moreover, with high credit limits and insurance cover, lounge access, concessions at hotels & airlines and higher reward points, customers don’t mind paying extra charges for the same. Further, it is expected that, with the increasing purchasing power of the consumers, these cards have enormous potential in the country. We expect that, the premium card potential in India will surge at a CAGR of over 41% during FY 2011 to FY 2013.
Our ongoing analysis found that, the rise in number of NPAs in banking sector has forced the players to shift their focus from mass segment to premium segment. Besides, the default rate on these cards is much lower in comparison to other available in the market. Along with these, various other factors, which are boosting the demand for premium cards in the market, have also been described in the report.
Further, the report has covered various other segments of the payment card in India, such as debit card, credit card, prepaid card, smart card, ATM network, POS terminals. For each of these segments, detail description and related statistics have also been included in the report.
“Indian Payment Card Market Forecast to 2012” also provides information of the key competitors in the market along with their business information and areas of expertise. The report shows a highly concentrated structure of the market, with the top players dominating the market. It provides segment level analysis of the industry along with emerging trends that may shape up with the betterment of economic conditions. The research will help consultants, industry analysts, and vendors to get in-depth knowledge of the current, past, and future performance of the industry.
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