Are Credit Cards Dying in India ft. Vijay Rajagopal
EPISODE NOTES
💳 Is UPI Killing Credit Cards? Not So Fast. On the surface, it looks like credit cards are losing ground to UPI. But as Vijay Rajagopal explains, the reality is far more interesting. Yes, UPI’s share of transactions is exploding. But credit card spends and volumes? They’re still growing. Here’s the real story: 🔹 The total payments pie in India is expanding rapidly 🔹 UPI is gaining share but not at the cost of absolute credit growth 🔹 Credit cards continue to win on rewards, perks, and behavior-based value Travel more? There’s a co-branded travel card for you. Dine out often? There’s a dining rewards card that fits your lifestyle. In a market like India, growth isn’t zero-sum. Multiple instruments can scale, simultaneously. UPI may dominate transactions. But credit cards aren’t di…