Credit card spends market share by bank. Why is there no Federal Bank here?
HDFC, SBI, ICICI clearly the strongest. Startup credit companies usually work with Federal Bank, but they seem to be missing from this list, that's a bit weird?
Can somebody from the fintech domain help me understand?
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icici in top 3 is surprising, considering they've inferior offerings even if compared to axis/indusind
Amazon 🥱🥱🥱
Amazon partnership I guess, really useful if you order regularly.
What is that you are not able to understand bro, its very simple, start up companies have negligible market share, their cards are often useless and unsecured, backed by FD or some arrangement like that, have low credit limit, co-branded with these top tier banks, etc. While other banks like Federal bank etc are way behind in terms of their product features and tech wise. All the top companies have hero cards that you would have heard somewhere or sold by lots of fun-influencers, so this results is not at all surprising. Rather i would say that i am an avid cc user, i have about 7-10 active cards from various banks, i select these cards very carefully and also close and get new ones when necessary, from my cc portfolio, i agree why these should be on top.
Well I don't. Icici doesn't deserve to be on top, though I can imagine the reasons it is on top
If you judge market charts and stats from who deserves and who doesn't, everyone will have different answers, so as someone said, market is the god and what you see is the results. Icici amazon pay card would have more business in a year than most of the start ups and federal bank, etc.
I would have expected SBI to grow much faster after the launch of CASHBACK card. Its the best card for online payments.
SBI is quite stingy with giving cashback card and even with limits on it. My other cards have limit of 5-10L while SBI cashback has limit of 50k
SBI Cards suck, but they re still on Top coz of targeted offerings and value prop.
HDFC is a tempting card with lot of rewards
Axis though is for the affluent
@HeavyFuture ,you can directly download this data from the RBI website
.. because their spends are low? What part is confusing?