EBANX released its "Beyond Borders" report on February 12, 2026. Credit cards are the fastest-growing e-commerce payment method in India. Domestic cards project a 23% compound annual growth rate through 2028. This pace surpasses the growth of the UPI instant payment system.
The trend challenges Mastercard’s position in the Indian market. RuPay holds a 33% share of the Indian card market. Mastercard holds a 20% share.
RuPay links credit cards to the UPI system to enable real-time transactions. This hybrid model allows consumers to draw from credit limits for UPI payments.