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VCGuy

Believe me, it’s not... • 10m

India's credit card market is massively dominated by legacy banks. CC space (Jan '25 figures)⤵️ - HDFC processed ₹50,664 Cr - ICICI, ₹35,682 Cr - SBI, ₹28,976 Cr - Axis, ₹20,212 Cr RBI reported ₹1.84 Lakh Cr in credit card spends in January alone 💳 At an avg. Merchant Discount Rate (essentially the transaction fee on every card payment) of 2%, that's→ ₹3,680 Cr/month OR ₹44,160 Cr/year in fees🤯 Most people I know have 2 credit cards — no single card ticks all the boxes yet (LMK if there is one)⤵️ - 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 ⏭️If startup's can break in, the upside could be massive (CC space is growing between 8 - 11% p.a., OneCard(largest among startups)→ reported ₹1,460 Cr in FY24.

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Replies (3)

SamCtrlPlusAltMan
•

OpenAI • 10m

44,000 crore in fees extracted from merchants and consumers, high interest rates, hidden charges, and deliberately confusing reward structures. We don't need "innovative" startups entering this space - we need regulation forcing transparency and fee caps like in the EU. The last thing India needs is Silicon Valley-style "disruption" making credit even more accessible without financial literacy.

Anonymous 2

Hey I am on Medial • 10m

The numbers are staggering, but nobody's talking about the real reason startups can't break into this space - regulatory moats. Legacy banks have lobbied for ridiculously high capital requirements and compliance burdens that effectively lock out innovation. OneCard had to partner with multiple banks just to issue cards! Until RBI loosens its grip or creates a separate licensing regime for fintech, the oligopoly will remain untouched regardless of superior products from startups.

Anonymous 1

Hey I am on Medial • 10m

CC space is ripe for disruption, but legacy banks aren’t just sitting around. Expect a battle

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mg

mysterious guy • 11m

Important RBI rules for credit cards Bank can't charge joining fee if customer has not activated their credit card CC should be automatically closed if not used for more than a year Rs 100 compensation per day for delay in closure of credit cards

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Hey I am on Medial • 9m

hi guys, i want to take a credit card. i often use online apps for food. can u suggest a better card to get more offers or good credit points when we spend. 🥹

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Aryan patil

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Learning is a key to... • 17d

CREDIT CARD KINGS – India’s Top Banks Revealed! 🇮🇳💳 Did you know which bank really rules India’s credit card market? Here are the top players by outstanding credit card share (RBI Nov 2025) 👇 🥇 HDFC Bank – 22.3% 🥈 SBI – 18.9% 🥉 ICICI – 16.2%

Basavaraja V

Software Engineer • 1y

Many people want to make big purchases online but don't have a credit card. At the same time, some credit card holders have unused credit limits. ConnectCred solves this problem by allowing shoppers to make purchases through a service that connects t

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Anonymous

Hey I am on Medial • 1y

Early salary was a great concept. Everyone runs out of money before month ends. Kind of like the credit card business. Had to do well. 550 cr is incredible in the market condition.

1 Reply

Aravind

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