Rise in use of credit & debit cards in India after demonetization

After demonetization, there has been a significant rise in the use of plastic money in India. The concept of paying by cash has become almost standstill, and majority finds it more convenient to carry a single card to make any payment rather than carrying notes. Plastic money includes credit cards, debit cards, prepaid balance cards and smart cards that can be used for any kind of payment. In retail stores, the sale of various products declined. Patanjali spokesperson SK Tijariwala said, the brand saw a drop of 1020 percent in sales in the first week post demonetization.

Demonetization also showed considerable impact on online shopping in India. The usage of cash-on-delivery decreased considerably. People started favoring online payments using credit and debit cards, and wallets. This infographic coined by CouponRani.com throws light on the rise in use of credit and debit card usage post-demonetization.

Rise in use of credit & debit cards in India after demonetization

Priyanka Chakrabarti

Priyanka Chakrabarti

Priyanka heads the content department at BoringBrands. You can usually find her hard at work creating path-breaking content strategies for the startup ecosystem or online, tweeting about her blog on all things fashion and lifestyle. Priyanka has previously worked as a journalist for The Times Group, Creative Nest Media and Hindustan Times. Find her on Twitter @PriyankaTLP

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