PaymentsJournal
SUBSCRIBE
  • Analysts Coverage
  • Truth In Data
  • Podcasts
  • Videos
  • Industry Opinions
  • News
  • Resources
No Result
View All Result
PaymentsJournal
  • Analysts Coverage
  • Truth In Data
  • Podcasts
  • Videos
  • Industry Opinions
  • News
  • Resources
No Result
View All Result
PaymentsJournal
No Result
View All Result

Promoting the Virtues of the Google Wallet Prepaid Card

PaymentsJournal by PaymentsJournal
January 31, 2014
in Analysts Coverage
0
prepaid cards

Hands holding credit card and using laptop

0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

Debit and credit card transaction volumes in India are rapidly increasing despite a large portion of unbanked consumers.

From Bank Credit News:

Though more than 40 percent of India’s urban population remains unbanked, recent data from the Reserve Bank of India showed an increase in the volume of payment card transactions and the number of cards in circulation.

The number of credit cards increased 6.8 percent year-over-year to 18.9 million, and transaction volume increased 27 percent year-over-year to 105.6 million.

Additionally, the number of debit cards rose 19.2 percent to 314 million, though the data correlates with bank account openings rather than demand for debit cards. Debit card volume increase by nearly 50 percent year-over-year.

The data indicate existing card users are driving the significant growth in transaction volume. What immediately then comes to mind is the impression that the unbanked population is stuffing cash under their mattresses. But a portion of the unbanked population could be using alternative forms of payment such as prepaid cards and mobile payments. The rising trends in prepaid and mobile payments are bridging what was once a significant gap between the unbanked and those with credit or debit cards, namely, security and traditional banking services such as online purchases and bill-pay ability.

Click here to read more from Bank Credit News.

Tags: Prepaid
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

    Analyst Coverage, Payments Data, and News Delivered Daily

    Sign up for the PaymentsJournal Newsletter to get exclusive insight and data from Mercator Advisory Group analysts and industry professionals.

    Must Reads

    eCommerce On Social Media, social commerce

    The Rise of Social Commerce and Social Payments

    February 3, 2023
    Electroneum AnyTask; ETN Crypto, sales enablement

    Ethical Financial Selling: The Role of Compliance Technology and Sales Enablement

    February 2, 2023
    direct deposit

    Nacha Launches Campaign to Reach Millennials on the Benefits of Direct Deposit

    February 1, 2023
    Equinix Helps UK-Based Payments Provider Enable Faster, More Reliable Payments Processing

    Equinix Helps UK-Based Payments Provider Enable Faster, More Reliable Payments Processing

    January 31, 2023
    credit card tumbling

    How to Detect, and Prevent, Credit Card Tumbling

    January 30, 2023
    Why Businesses Need to Adopt Real-Time Payments as a Competitive Differentiator

    Why Businesses Need to Adopt Real-Time Payments as a Competitive Differentiator

    January 27, 2023
    faster payments

    Faster Payments Are Set to Revolutionize Modern Digital Payments

    January 26, 2023
    How AI can Help Manage Payments Risk in 2023

    How AI can Help Manage Payments Risk in 2023

    January 25, 2023

    • Advertise With Us
    • About Us
    • Terms of Use
    • Privacy Policy
    • Subscribe
    ADVERTISEMENT
    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Videos
    • Industry Opinions
    • News
    • Resources

    © 2022 PaymentsJournal.com

    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Industry Opinions
    • Faster Payments
    • News
    • Jobs
    • Events
    No Result
    View All Result

      Register to download the Equinix report - Dojo Delivers Fast, Reliable and Secure Card Payments to Businesses on Platform Equinix