Credit Card statistics 2023: Transactions, Volume, Growth Data

Check out the Credit Card statistics in India for the 2022 year. The number of credit cards issued, transaction volumes, transaction value, transaction type, Outstanding balance, and other related key information are available in this article. We have tried to represent all the data in a simple manner so that everyone can easily understand.


In recent years, the Indian government has implemented several policies to promote the use of credit cards, such as the Pradhan Mantri Jan Dhan Yojana and the RuPay card. These initiatives have helped to increase the number of credit card holders in India, as well as the number of merchants who accept credit card payments.


Below is the key information we found from the 2022 credit card data.

  • Credit card holders spend almost double the amount in the month of January and February. Transaction values were higher in both online and PoS spending.
  • A total of 12.23 Million new credit cards have been issued by credit card issuers in 2022.
  • Total credit card spending in December 2022 was 1.27 lakh crore.
  • As per the different reports, the number of credit card holders in India was expected to reach over 80 million, with an estimated total credit limit of over $100 billion.
  • At the end of the 2022 year, The number of outstanding credit cards is 81.18 Million credit cards that consumers are using to make purchases. It’s a 17.78% increment in just one year.
  • The credit card industry has expanded with an 83% total growth in the last five years (2018-2022).

Month-wise transaction value

MonthTotal credit cards at the end of the monthTransaction value (Online)Transaction value (PoS)Transaction value (ATM)Transaction value (Others)
January7.025 croreNot available87768.50 crore269.41 croreNot available
February7.170 croreNot available86041.00 crore263.76 croreNot available
March7.362 crore68329.75 crore38776.95 crore343.75 crore3.98 lakh
April7.516 crore65652.29 crore39806.82 crore302.67 crore9.45 lakh
May7.687 crore71427.90 crore42265.61 crore328.08 crore8.55 lakh
June7.872 crore68286.02 crore40465.51 crore335.66 crore9.76 lakh
July8.025 crore74089.04 crore41766.62 crore342.40 crore7.05 lakh
August7.799 crore67414.33 crore44943.17 crore358.63 crore6.30 lakh
September7.770 crore77266.99 crore45287.14 crore352.39 crore7.25 lakh
October7.936 crore75185.27 crore53890.42 crore374.65 crore27.73 lakh
November8.066 crore68524.50 crore46296.30 crore366.84 crore22.75 lakh
December8.118 crore74751.85 crore51771.53 crore392.06 crore31.38 lakh

Key takeaways:

  • A total of 10.93 Million new credit cards have been issued to customers in 2022 by different credit card issuers.
  • Cardholders spent the maximum amount in online transactions in the month of September 2022. It may be due to Diwali and other festival sales on major e-commerce platforms. Customers spent around 77266.99 crores to purchase online.
  • Cardholders spent almost double amount in the January and February month as compared to other months.
  • Credit Card transactions amount at ATMs increased constantly from around 250 crores to 400 crores during the entire year.
  • Other transactions amount have seen a sharp jump almost four times in the last three months of 2022.

Month-wise transaction volumes:

MonthTotal credit cards at the end of the monthTransaction volume (Online)Transaction volume (PoS)Transaction volume (ATM)Transaction volume (Others)
January7.025 crore195805022548917
February7.170 crore188423247530025
March7.362 crore110317334113433127679817751
April7.516 crore1076415741152871916122351398
May7.687 crore1157752691220262256644751613
June7.872 crore1068934031210507146787621611
July8.025 crore1127631601220693026950631299
August7.799 crore1117283371330535927462401183
September7.770 crore1143081161317074557238451413
October7.936 crore1109546391448320687674021215
November8.066 crore1031410051319986847592571371
December8.118 crore1107100291449350058128301471

Key takeaways:

  • Transactions at ATMs constantly increased month by month. Cardholders have started using their credit card more often to get cash in an emergency due to their convenience. Getting cash through a credit card starts accruing interest immediately so cardholders will have to repay with a higher amount. It leads to an increase in overall credit card debt.
  • The number of PoS transactions was in the higher range at around 19.5 crores in January and 18.8 crores in February. After that, there was a sudden drop in transaction volumes in March 2022. From March, the number of transactions at PoS increased constantly till December 2022.
  • We have not seen any big change in the number of online transactions in 2022. The number of online transactions stands at around 10-11 crore every month. As we do not have the data for the Online transactions in January and February month, we are assuming that number of online transactions was also higher in the first two months as we have seen in the number of PoS transactions case.

Monthly average credit card spending data

Please check out the monthly average transaction amount done by a credit card at PoS, online, and ATM.

1-PoS transaction value per credit card per month:

Please have a look at the below chart including the average spending from a single credit card at Pos from January 2022 to December 2022.

Average monthly PoS transaction amount by a credit card

Complete data is given in the below table. Please have a look.

MonthAverage transaction value per credit card at PoS (In Rs.)

2-ATM transaction value per credit card per month:

Average monthly atm transaction amount by a credit card

Average ATM transaction amount data is also available in the below table. Please have a look.

MonthAverage transaction value per credit card at ATM (In Rs.)

On average a single credit card transaction amount data at ATM is given in the below chart. It’s a monthly wise per credit card average amount of how much cash has been withdrawn from the ATM from a credit card.

Number of Outstanding credit cards – Yearly growth

Outstanding credit cards - Year by year growth

The credit card industry witnessed significant growth from 2017 to 2022. As per the latest data published by the Reserve Bank of India, the size of the industry as of Dec 2022 stood at 81.1 million credit cards. Around 12 Million new credit cards have been added in the 2022 year.

Industry growth year by year:

Please check out the year-by-year growth in percentage.

Yearly growth in credit card number

As per the above graph, the Credit Card industry growth was almost for four consecutive years from 2016 to 2019. After that, the industry growth suddenly stopped. We can clearly see the effect of the Covid-19 pandemic on the credit card industry. Industry growth in 2022 is 17.54% as compared to the 2021 year.

Average credit card debt per person in India:

The average credit card debt in India has been on a steady rise. According to Reserve Bank of India data, the total outstanding credit card debt in India as of December 2020 was around INR 1,16,085 crore (about $16 billion USD) which is a consistent increase from the previous years.

The average credit card debt per person in India can vary widely depending on a number of factors, such as income level, spending habits, and credit score. It is important for individuals to track their credit card spending and make sure they are not taking on more debt than they can handle.

Percentage of credit card users who pay their bills on time in India:

The percentage of credit card users who pay their bills on time in India has been relatively low. According to a study by the Reserve Bank of India in 2019, around 60% of credit card holders in India regularly pay their bills on time.

This means that a significant percentage of credit card users in India are not paying their bills on time, which can result in late fees and interest charges, as well as damage to their credit scores. It’s important for credit card users to make sure they pay their bills on time to avoid these penalties and maintain a good credit score.

Despite the growing popularity of credit cards, the rate of credit card usage in India remains relatively low compared to other countries. This can be attributed to a number of factors, such as a lack of financial literacy and a lack of trust in credit card companies. Nevertheless, credit card usage is expected to continue to grow in the coming years, as more and more people in India become aware of the benefits of credit card usage.

Source: All the data have been taken from the Reserve Bank of India website.

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