Sudden Surge In Demand For Credit Cards Among New Users

Aman Ahuja, Vice President, Product Management, South Asia, Mastercard in an interview with Saibal Dasgupta and Himali Patel explains how a large majority 77 per cent consumers in India believe the shift to contactless payments is here to stay   Owing to the lockdown, digital transactions have seen an uptick. How have things been for the sector in the period following the lockdown? With the lockdown, there have been innumerable ways in which consumer behaviour has evolved and adapted to these unprecedented times. We have seen that while digital payment volumes declined in sectors like aviation, tourism, hospitality, hotels, entertainment, e-commerce (non-essentials) and restaurants, there is also an uptick in areas like online grocery stores, online pharmacies, OTT players (telecom and media), EdTechs, online gaming, recharges and utility/bill payments. Has the industry seen any...