COVID Impact: Credit card transactions in September fall 17% | Personal Finance News

COVID Impact: Credit card transactions in September fall 17%

New Delhi: The RBI data on ATM, Acceptance Infrastructure and Card Statistics show that credit card transactions saw a 17 percent decline in the month of September 2020.

Though Year on Year, Credit card transactions in September shows a decline, there is a gradual recovery month on month.

The Reserve Bank of India in its ATM, Acceptance Infrastructure and Card Statistics for the Month September 2020 report has stated that the number of Transactions (Actuals) at ATMs stood at 437052 while that in PoS was at 149059215. Meanwhile, the Value of transactions (Rupees Lakh) was Rs 21701 in ATMs and Rs 5013967 via PoS, RBI data added.

This is a -16.94 decline in number of credit card transactions at PoS as compared to last year. In the same period last year, the number of Transactions (Actuals) at ATMs stood at 817667 while that in PoS was at 179470522. Meanwhile, the Value of transactions (Rupees Lakh) in September 2019 was Rs 39219 in ATMs and via PoS 5945313.

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However, Month on Month, this is a gradual recovery as compared to month of August, when the number of Transactions (Actuals) at ATMs stood at 366552 while PoS was at 142898722. The Value of transactions (Rupees Lakh) was Rs 18380 in ATMs and Rs 5031906 via PoS.