Journal of Management Research and Analysis

Print ISSN: 2394-2762

Online ISSN: 2394-2770

CODEN : JMRABX

Journal of Management Research and Analysis (JMRA) open access, peer-reviewed quarterly journal publishing since 2014 and is published under auspices of the Innovative Education and Scientific Research Foundation (IESRF), aim to uplift researchers, scholars, academicians, and professionals in all academic and scientific disciplines. IESRF is dedicated to the transfer of technology and research by publishing scientific journals, research content, providing professional’s membership, and conducting conferences, seminars, and award programs. With more...

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Original Article


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193-197


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P. Shibu, M. D. Devasia, N Karunakaran*


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Trend and dynamics of card payment system in India


Original Article

Author Details : P. Shibu, M. D. Devasia, N Karunakaran*

Volume : 8, Issue : 4, Year : 2021

Article Page : 193-197

https://doi.org/10.18231/j.jmra.2021.037



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Abstract

Payment system in India has undergone a dramatic change in recent years. The payment through cards, using both debit and credit cards, is one of the early innovations in the modern payment system in the country. Several intermediaries are involved in the effective functioning of card payment mechanism. As a result, the card payment infrastructure has grown remarkably well across India. The volume of payments made through these devices as well as the value of card payments increased rapidly in the last two decades. Among the commercial banks, the State Bank of India dominates in the maintenance of ATM infrastructure, the issue of cards and in the volume and value of card transaction. The private sector banks dominate in the installation of POS terminals and HDFC bank tops in the POS credit card transaction. However, the recent trend shows that the transaction through cards as a percentage of total retail electronic payments has been declining in India, as other retail payments platforms have become popular.


Keywords: Credit Card, Debit Card, RBI, Commercial Banks, ATMs, POS Terminal, Electronic Payments


How to cite : Shibu P, Devasia M D, Karunakaran N, Trend and dynamics of card payment system in India. J Manag Res Anal 2021;8(4):193-197

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