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VCGuy

Believe me, itโ€™s not...ย โ€ขย 12m

India's credit card market is massively dominated by legacy banks. CC space (Jan '25 figures)โคต๏ธ - HDFC processed โ‚น50,664 Cr - ICICI, โ‚น35,682 Cr - SBI, โ‚น28,976 Cr - Axis, โ‚น20,212 Cr RBI reported โ‚น1.84 Lakh Cr in credit card spends in January alone ๐Ÿ’ณ At an avg. Merchant Discount Rate (essentially the transaction fee on every card payment) of 2%, that'sโ†’ โ‚น3,680 Cr/month OR โ‚น44,160 Cr/year in fees๐Ÿคฏ Most people I know have 2 credit cards โ€” no single card ticks all the boxes yet (LMK if there is one)โคต๏ธ - โ€‹Smart Expense Tracking (incl. charts or a dashboard) - Offers on electronics, esp. smartphones/laptops and online shopping - Minimal annual charges, useful cashback/rewards - Airport Lounge access, offers on flights/hotels - Movie offers โญ๏ธIf startup's can break in, the upside could be massive (CC space is growing between 8 - 11% p.a., OneCard(largest among startups)โ†’ reported โ‚น1,460 Cr in FY24.

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