Overview

Debit card transaction volumes declined 11% YoY in April 2026, while credit cards recorded strong 23% annual growth, even as both moderated sequentially. 1Lattice's analysis of RBI data, featured in ETBFSI, tracks the continuing divergence in India's card payments landscape.

Debit card transaction volumes declined 11% year-on-year in April 2026, with transaction value down 5% annually, according to 1Lattice's analysis of RBI data. On a sequential basis, both volume and value fell 6% month-on-month, with 0.51B transactions recorded, down from 0.54B in March, and ATMs continuing to dominate at 80.8% of volume. Credit cards, meanwhile, grew 23% YoY in volume and 7% in value, though both moderated sequentially; volumes fell 3%, and value dropped 10% month-on-month, with 0.56B transactions recorded, led by e-commerce spending at 50.3%. SBI led the debit card segment while HDFC Bank topped credit cards, with debit and credit card transactions growing at a four-year CAGR of around 20% and 19%, respectively. These insights, powered by 1Lattice's data analysis, were featured in ETBFSI, reflecting 1Lattice's role in decoding shifts in India's digital payments ecosystem.