Credit card users spent Rs 39,000 cr on digital payments in 2021: Report

As the adoption of digital payments and wallets grow significantly, credit card users spent more than Rs 39,000 crore on wallets and digital payments, including Rs 7,850 crore on travel alone in 2021, a new report revealed on Friday.

Expenditure on food and utility bills remained consistent during all months while food and beverages saw high spending after the lockdown restrictions were eased from July to October, according to data provided by credit card bill management platform CRED.

"2021 can be defined as the year of self care for CRED members. This was visible from the increased spend across categories such as travel, shopping and health and wellness. In 2022, we look forward to growing and providing more experiences to our members,a said Kunal Shah, Founder of CRED.

As travel restrictions eased, more individuals packed their bags to venture out.


Travel credit card expenditure was Rs 1,103.11 crore in September -- higher than any month in 2021. The spending remained on a high in October with Rs 1,091 crore spent by members.

May and June saw 24 lakh transactions, amounting to a total of Rs 675 crore. However, July saw a return of travel with credit card spends rising to Rs 602.26 crore.

Maldives and Dubai, which opened borders to Indians, were the most picked international destinations this year.


Within India, popular destinations were Goa, Coorg, Jaipur, Udaipur, Bengaluru and Mumbai for staycations and short trips.

From March to May, individuals spent over Rs 1,000 crore, collectively, on food and beverages when the pandemic restrictions were strict and online food deliveries were the only alternative to dining out.

As the restrictions were lifted across various states, more individuals started venturing out to eateries, cafes and bars.


The months of August (Rs 1,750 crore) and September (Rs 1,727 crore) recorded the highest transactions and payments made on food and beverages, while October continued to see the rise with Rs 1,427 crore spent.

Expenditure on wellness and self care also saw steady growth with Rs 44.96 crore being spent in September, compared to a combined total of Rs 49 crore in June and July.

Fitness remained a popular trend amongst individuals, especially in January-March witnessing spends worth Rs 1,152 crore, according to the CRED report. - IANS