Credit Cards - Covid 2.0 Impact Relatively Lower; June Witnesses Recovery: ICICI Securities

An employee operates a electronic payment terminal at a musical instruments store in Bengaluru, India. (Photographer: Dhiraj Singh/Bloomberg)

Credit Cards - Covid 2.0 Impact Relatively Lower; June Witnesses Recovery: ICICI Securities

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Securities Report

The payment snapshot available for FY22-till-date indicates the impact of Covid-19 second wave has been significantly less than the first.

This is true for all modes of payments including credit cards. Key supporting data include:

  1. higher credit card spends in April 2021 than H1 FY21 (on monthly basis)

  2. sharp recovery in spends trends in June 2021 till date

  3. 162% higher spend per card for aggregate system in April-21 (over April-20).

Unified payments interface’s market share has increased from 8.1% in January 2020 to 11.7% in March-21 and 15.5% in April-21.

The ratio of UPI to credit card has continued to gradually increase from 3.24 times in January-20 to 6.97 times in March-21 and 8.34% in April-21.

Click on the attachment to read the full report:

ICICI Securities Credit Cards Monthly Update June 21.pdf


This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.

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