
According to a new research report “Indian Payment Card Market Forecast to 2012”, by RNCOS, Indian Payment Card Industry presents enormous growth potential for market players in various segments. Despite a decline in credit card base, the industry has seen huge growth in terms of cards transaction as debit and credit card transaction by value has increased at a CAGR of around 46% and 9%, respectively during FY 2008-2011. Improving payment infrastructure, regulatory environment, and change in spending pattern is expected to set the industry for rapid growth in future.