India to have 1 billion debit cards soon, a 12-fold jump in 10 years

Five years ago, ATM transactions formed 90% of debit card usage in volume and 95% in value. Today, PoS (point-of-sale) and e-commerce form 31% of total transactions, and 15% of the value of transactions. The govt's decision to waive MDR (merchant discount rate) charges for debit card purchases below Rs 2,000 has encouraged debit card usage in shopping.

from Times of India https://ift.tt/2D09x5v