Present scenario The use of payment cards in India for transactions has been increasing at a faster rate. According to the Reserve Bank of India there are close to 400 million payment cards in circulation in India (2013). The number of cards used has more than doubled in the recent five years period. The transaction volumes using payment cards also show healthy increase of close to 40% annual growth rate in the recent past. However, with the increase in growth rate of use of payment cards, there Read more [...]