Hyd leads in credit card on UPI usage: Kiwi
image for illustrative purpose
Hyderabad leads in credit card on UPI usage, with 13 per cent of onboardings, and 14 per cent of spending, said Kiwi, a fintech startup, on Monday in its latest report revealing insights into the nationwide surge in virtual credit card adoption through UPI integration.
The report titled ‘Credit Cards on UPI’ highlights that more than Rs 100 crore worth of credit card on UPI transactions are taking place on Kiwi’s platform on a monthly basis, wherein 75 per cent of all the transactions occur at small merchants. The credit-on-UPI platform informed that it has onboarded over one lakh virtual RuPay credit cards in less than 10 months.
Mohit Bedi, Co-founder, Kiwi, said: “RuPay credit cards’ market share has grown from three per cent in FY23 to 10 per cent in FY24. This success can be largely attributed to UPI’s success.
