The company noted that there are around 118.6 million credit cards in circulation in India, with total credit card spends crossing ₹23.62 trillion in FY26. Within this, SBI Card data shows retail spends reached over ₹3.54 trillion, marking a 15% year-on-year increase, indicating continued momentum in consumer spending.
A key trend highlighted is the rising share of online transactions, which now account for nearly 62.5% of retail credit card spends. The company said customers are using cards for both discretionary and non-discretionary purchases through digital platforms, reflecting a shift toward digital-first consumption behaviour.
UPI-linked credit card usage is also gaining traction.
As per SBI Card’s Q4 FY26 data, such spends grew over 10% quarter-on-quarter, with transactions concentrated in categories such as groceries, utilities, fuel, apparel, and restaurants.
The report also pointed to increasing credit card adoption in smaller cities. Around 77% of UPI-active credit card users and 81% of related spends are coming from Tier 2 and Tier 3 cities, indicating deeper penetration of digital credit products beyond metropolitan areas.
Another emerging trend is multi-card usage, where customers use different cards for specific categories such as travel, fuel, wellness, and digital spending to maximise rewards and benefits. SBI Card also noted a rise in EMI-based spending, which recorded double-digit year-on-year growth in FY26, driven by purchases of consumer electronics, gadgets, and durable goods.
Commenting on the trends, Salila Pande, MD & CEO of SBI Card, said rising incomes, digitisation, and evolving payment infrastructure are reshaping credit card usage patterns, with consumers increasingly focusing on lifestyle, experience-led, and seamless transactions.
The company said it continues to focus on partnerships and product innovation to cater to evolving customer preferences in India’s expanding digital payments ecosystem.
First Published: May 19, 2026 1:06 PM IST
