Data suggests that there has been a surge in the credit card usage to make payments. As per data, RBI has issued over 8.5 crore credit cards as of April 2023 In India, there are five credit card network providers – Visa, Mastercard, Rupay, American Express or Diners Club. Till date, these credit card networks are pre-determined depending on the agreement between the banks and the networks. On July 07, 2023 RBI circulated a proposal to the banks that allows customers to choose from the credit card network from October 01, 2023.
first published: Jul 15, 2023 10:52 am
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