The 2017 PACE Report provides meaningful, actionable insights for becoming and remaining your customers' first choice in financial institutions.

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Each report reflects country-specific research to provide better insight into what local consumers want. Choose your country of interest:


For the US market, we have created three meaningful, actionable reports for becoming and remaining the first choice for your customers' financial services. Please select the relevant report below.


Retail Payments

Credit card penetration is improving rapidly in India

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As consumers move away from cash to embrace plastic and virtual cards, India’s banks have an opportunity to grab top-of-wallet status.

Credit cards provide a major growth opportunity

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In India, the primary banking provider controls 57% of credit card accounts. However, only 18% of respondents have a card exclusively with their primary bank.

India - Retail Payments - Chart 1

Credit card penetration increased substantially from 2016.

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India - Retail Payments - Chart 2

A large number of Indian consumers have acquired a credit card for the first time recently. The percentage of people reporting owning a credit card has increased 25% over last year’s survey.

Even so, virtual cards may leapfrog plastic in use and acceptance.

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Compared with the global norm, India is making the shift from physical to virtual cards more quickly. As the usage of mobile phone payments increases, we can expect to see plastic cards to disappear altogether as virtual cards overtake them.

India - Retail Payments - Chart 3

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