July data for payments spending thru Cards, a payment format yet chosen by only 10% users worldwide must be a relief nevertheless for sunny bankers looking to grow the respobnsible use of own account debit cards. though the number of debit cards in circulation have always been higher with 240 million card holders compared to the 150 million odd ( 180 million in 2007) credit cards bu twhen sepnding rose in July , Credit Cards scored $7.5 bln out of the $9 bln odd spending committed thru cards.

Online payment services would be happier as they released figures showing a healthy domination by the online payments industry among the young(presumably) accounting dfor a healthy $3-4 bln , more than debit cards in the month. Debit card spending rose a healthy 50% from a year ago period and counted for a $1 bln before the rupee broke its trot ahead of It results in the offing in October

Debit card spending for April to July is thus reported to nearly Rs 16000 crores, and with festive season approaching. Credit Cards / Debit cards for the four months reached a 60-40 proportion a healthy partake by any standards and portending an explosive fgestive season. The spending ratio in the festive season may yet skew back to credit cards but reports of heavy debit card spending in this fiscal and the growing supersizing of groceries as a budgeting exercise is a sign of strentgth int he consu,mption sector as usual , a first for the nation. With cards accounting for nearly Rs 1.5 tln for the year or $30 bln - $40 bln depending on which weeks exchange rate to take :D, a payment s spending of over Rs 15 tln with nearly half a tln or more spent online means innovation spend in the sector has been vindicated and will continue as further investment frompauyment service providers. 

Mobile cash spending has long been portended as nirvana for the unbanked and may yet pull through giving a leg to the growing pace of rural spend over urban spend. 

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