Premium Cards' Market Segment Witnessing Unprecedented Growth in India

With credit card companies focusing more on the premium card segment, the market is expected to increase at a CAGR of around 12.5% during FY 2011- 2014 to reach 1.85 Million, acknowledged RNCOS.

Noida, India (prHWY.com) April 25, 2012 - Premium credit cards are the form of plastic money loaded with a large number of benefits attracting high net-worth individuals. Platinum and Signature credit cards in India are the main types of premium credit cards, with high credit limits and insurance coverage, lounge access, concessions at hotels and airlines, and higher reward points. With the growing economy and increasing wealth, people generally do not mind paying extra charges for these benefits. Also, holding premium card is a style statement, which is one of the main factors supporting growth of this market. Further, according to a recent report by RNCOS, "Indian Payment Card Market Forecast to 2012", the demand for premium cards segment in India ought to grow at an astounding CAGR of 12.5% during FY 2011-2014.

The Indian payment card industry offers enormous opportunities to the existing as well as the new market players. Large base of middle-class households and frequently changing shopping styles are the main reasons behind the growth of the Indian debit card market. With people becoming more internet-savvy, an upward trend has been observed in the number of e-shoppers, who use credit cards for online transactions.

Our report also presents an insight into the upcoming innovations in terms of offerings and technology in payment card industry, which will bring transparency, ease, and security in the use of these cards. Increasing trend of online shopping and other benefits, like reward points and discounts, offered by merchants as well as bankers attract customers to shop using payment cards.

The report provides an extensive research and rational analysis along with reliable statistics of the Indian payment card market. It covers a wide array of well-examined current market trends, industrial developments, and competitive landscape to facilitate clients with a proper understanding of the current scenario of the market and future prospects in a better way. The report also provides a brief overview of the key market players pertinent for devising a strong and worthwhile investment decision. Overall, the report covers each and every aspect of the premium credit card companies in India.

For FREE SAMPLE of this report visit: http://www.rncos.com/Report/IM006.htm

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Check Related REPORTS on: http://www.rncos.com/Banking&Insurance.htm

About RNCOS

RNCOS specializes in Industry intelligence and creative solutions for contemporary business segments. Our professionals analyze the industry and its various components, with a comprehensive study of the changing market behavior. Our accuracy and data precision proves beneficial in terms of pricing and time management that assist the intending consultants in meeting their objectives in a cost-effective and timely manner.

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Tag Words: indian payment card

Categories: Banking

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