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The Times of India

Business

PTI

Credit card spending online nearly Rs 30,000 crore higher than swipes in March: RBI data

RBI HDFC Bank e-commerce New Delhi

NEW DELHI: Credit card spending online was nearly Rs 30,000 crore more than the spending done through swipes at points of sale in March, indicating an increased preference among people for e-commerce purchases.

Latest data from the Reserve Bank of India (RBI) showed that 7.3 crore credit card holders spent about Rs 68,327 crore for buying online while the amount spent through swipes at Point of Sale (PoS) machines stood at Rs 38,377 crore in March.

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