Credit card usage in value spikes 3 times in past 6 years, says RBI data

Customers have increasingly been relying on credit cards for online shopping, travel bookings and other expenses – at least this is what the latest payment data suggests. Card based payments comprise a significant segment of India's retail payment systems, shows RBI's Payment Systems Report for June 2025.

The total amount (in value) of credit card spend stood at ₹3.37 lakh crore in H1 2019. This has risen to ₹11.10 lakh crore in H1 of 2025, i.e., a jump of more than three times in a span of six years, reveals the Reserve Bank of India report mentioned above.

At the same time, total volume of credit card spend has increased from 96.66 crore to 266.29 crore over past six years. In fact, the figures of H2 are typically higher than those of H1. So, the volume of credit card spend is likely to be higher in 2025 than the current figures.

(Source: RBI)

In value terms, amount spent via credit cards stood at ₹3.37 lakh crore in H1 2019. This declined to ₹2.75 lakh crore In H1 2020. In 2021, it rose to 3.71 lakh crore. Further, it spiked massively to ₹6.09 lakh crore in 2022.

In 2023 (H1), corresponding data stood at ₹7.94 lakh crore. This figure rose to ₹9.60 lakh crore a year later. Finally, the figure has touched ₹11.10 lakh crore in H1 of 2025.

In volume terms also, the increase in number of transactions was note-worthy. While there were 96.66 crore credit card transactions that took place in H1 2019, they rose to 266.29 crore in H1 2025, i.e., reflecting an increase of 175% in five years.

In H1 2024, this figure stood at 204.64 crore, shows the RBI data.

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