Noida, UP India (PressExposure) May 20, 2011 -- According to our latest research report "Indian Payment Card Market Forecast to 2012", Indian payment card industry is currently at its nascent stage and is providing ample opportunities for both existing as well as new market players. The industry has not just grabbed the attention of middle class households, but has also attracted the government in its favor. The industry is witnessing a phenomenal growth in the issuance of credit and debit cards on the back of increasing awareness among the consumers and various government initiatives.
As per our research, with the declining popularity of credit cards in India, banks are now turning their attention to prepaid cards. Currently, prepaid cards in India are being used by the individuals as a preferred management tool for traveling in other countries and to withdraw cash at international locations. With the growing popularity of these cards, we anticipate that, the market for prepaid cards will grow at a CAGR of over 40% during 2009-2017.
Further, our report reveals that, the payment card market in India is dominated by domestic cards. However, the market for international cards is also growing at a fast pace. Visa, Master Card, American Express, JCB, and Dinner club are the key brands in the Indian international credit card market. Of these, Visa is the most popular international brand, enjoying a major international card market in the country.
Our report "Indian Payment Card Market Forecast to 2012"," provides an extensive research and rational analysis along with reliable statistics of the Indian payment card market. The report has thoroughly examined current market trends, industrial developments, and competitive landscape to enable clients understand the market structure and its progress in coming years. Besides, the report provides brief overview of the key market players including ICICI Bank Ltd, HDFC Bank Ltd, Citibank NA, State Bank of India, and Punjab National Bank., along with their strengths & weaknesses and recent activities.
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