Biggest international and domestic payment card schemes in India 2016-2023
Published by
The market share of domestic card brand RuPay did not reach the same heights in India as either Visa or Mastercard. Visa, especially, is popular in the Asian country, with a market share in 2023 of 55 percent, an increase of three percentage points from the previous year. Mastercard's market share grew by four percentage points during the same timeframe. The share of cash in India declined significantly since COVID-19, whereas digital wallets became the most used in-store payment method. Noticeable is the growing use of credit cards for offline payments.
