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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

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Anonymous

Anonymous 2

Hey I am on Medial • 3d

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.

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VCGuy

Believe me, it’s not... • 3d

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

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