Summary:
The primary driver for growth were credit cards, and the December 2020 revenue from the category has exceeded the December 2019 revenues by 20%. Demand for new credit cards in October 2020 was higher than the demand in October 2019 at BankBazaar, and revenue from credit cards grew by more than 20% year on year. As per RBI data, the number of active cards grew to almost 60Mn in October 2020, and credit card spends exceeded March 2020 numbers around the same time. “The first is the need for essential digital payments using credit cards sharpened during the pandemic. BankBazaar.com is India’s first neutral online marketplace that gives instant customized offers on loans and credit cards..