Paisa Vaisa with Anupam Gupta Credit Cards 101 with Sanjeev Moghe of Axis bank
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Dec 2, 2024 Sanjeev Moghe, President & Head of Cards & Payments at Axis Bank, shares his insights on the evolution of credit cards in India. He discusses the surge in credit card usage during festive seasons and the growing popularity of co-branded cards with e-commerce giants. Sanjeev elaborates on the challenges posed by regulatory changes and credit card delinquencies. He also provides valuable tips for effective credit card management and highlights the importance of reward programs, ensuring consumers make the most of their credit card experiences.
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Credit Card Evolution
- Early credit cards were processed by 'slug machines', requiring imprints for verification.
- This evolved to swiping, then chip-and-pin for increased security.
Types of Credit Cards
- Credit cards are categorized into proprietary and co-branded cards.
- Proprietary cards offer bank-specific rewards, while co-branded cards offer partner-specific rewards.
Customer Segmentation
- Credit card availability varies depending on customer demographics and income stability.
- Axis Bank offers a range of cards catering to different customer segments.
