Credit card e-spends beat swipes by 76%

Credit card spending online by Indians outstrips the value of in-store swipes by 76%. Data released by the RBI shows that Indians predominantly use their credit cards online for payments, while debit cards are more used for physical stores. The RBI data provides for the first time a break-up of online versus in-store payments, which explains the regulator’s concerns over risks involved in online usage.