UPI is king but 75% of online transactions are still through credit cards

Two-thirds of the spends through credit cards is for online transactions, while for debit cards it is one-third, according to a recent report by Kotak Institutional Equities. At least 75 per cent of online transactions are through credit cards, while it is 50 per cent in offline transactions.

75% of online transactions are through credit cards while it is 50% in offline transactions: Break-up of debit cards transactions value (online: offline), November 2019-September 23 (%)

“The RBI data broadly suggests that the impact of UPI appears to be a lot stronger in hurting the growth of debit card transactions over credit cards at this point.