Credit card spending hits ₹1.9 lakh cr in May

Credit card spending in India touched ₹1.9 lakh crore in May 2025, marking a 3% month-on-month and 15% year-on-year rise, driven by summer travel demand and robust e-commerce activity.

This rebound comes after a slight dip in April and follows the record high of ₹2 lakh crore in March.

Within digital payments, UPI-P2M transactions surged 25% YoY to ₹7 lakh crore, while credit card spends rose 15%.

On the flip side, debit card usage declined 15% YoY to ₹36,800 crore, reflecting a shift in consumer preference toward credit and UPI-based payments.