As RBI rings in changes, here is why SBI Cards is the darling of analysts

SBI Cards' market share in terms of the number of credit cards has moderated by around 10 basis points to 19.1 per cent

The Reserve Bank of India’s (RBI’s) regulatory stance on prepaid payment instruments (PPIs) favours banks and conventional credit cards (including banks with credit cards) over financial technology.

PPI wallets cannot be loaded by using credit lines tapped from a non-banking financial company, but they can be loaded via debit/credit cards.

The RBI’s Payments Vision 2025 indicates it is aiming at a Unified Payments Interface (UPI)-like system for cards, enabling Internet of Things-based payments and interoperability, and payment systems for merchants.

The RBI targets digital payment transactions growth by 3x, UPI annualised growth of 50 per cent, and an increase in