A recent data says;
India has 810M Debit card & 33M Credit card users
Paytm celebrated its success by adding 200M users as its regular customers.
Which means a large percentage of credit or debit card users have started to trust digital payment systems like Paytm or Mobiquik etc.
We can’t give entire credit to Paytm for this success, instead, the recent demonetization by the ruling government has added spark to the fire. November 8, 2016, 02when Modi government took this challenging step, leaving 85% of currency useless left entire country stunned. Cashless people had no way other than to accept growing payment systems like Paytm or Mobiquik.
The quantity of credit and Debit cards in India is relentlessly expanding, however, credit card issuance exceeded credit autos. In February 2017, an aggregate of 33 million credit cards and 810 million Debit cards were in operation, as indicated by the Reserve Bank of India
Between February 2016 and February 2017, India included somewhere in the range of 0.24 million Visas and included 22.00 million credit cards. Card use spiked amid the long stretches of November, December, and January following the demonetization of Rs 500 and Rs 1000 notes. This constrained cardholders to utilize them. Yet, since January, card utilization has been decreasing.