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Travel & e-commerce cards witness faster adoption rate; fuel credit cards top demand in 2023 across India’s Tier-2 & 3 cities

According to a study by ZET, credit card usage is increasing in India's Tier-2 and 3 cities, with travel and e-commerce credit cards seeing higher adoption rates. Travel credit cards, offering air miles and travel-related rewards, experienced the fastest growth in 2023, followed by fuel credit cards, which provide cashback on fuel purchases. E-commerce credit cards also saw significant demand due to specific benefits like rewards and discounts on online shopping. The study also highlighted that credit card penetration is expected to rise to 10 crore by early 2024.

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