Credit Card Spending Jumps 25% in September Amid Festive Shopping

Credit card transactions in India surged by 25% in September, boosted by the festive shopping season. Data from payment networks and banks indicate a sharp rise in consumer spending across e-commerce platforms, retail outlets, and travel bookings. Industry observers note that the increase was largely driven by pre-Diwali offers, festive discounts, and easy EMI schemes. Both urban and semi-urban markets witnessed significant activity, with younger consumers leading the surge in digital transactions. The spending boost is a positive signal for India’s retail economy, which has recently been under pressure from slowing credit growth. The uptick suggests that consumers are still willing to spend when attractive offers and seasonal triggers are present. Bankers believe that this festive momentum will likely continue through October and November, as Diwali and wedding season purchases typically drive credit card usage further upward.