In December 2008, we had 364 ATMs and the number of transactions using credit and debit cards stood at around 5 million for an aggregate value of Rs11 billion. The number of cards in circulation was 1.2 million, that is more than one card per adult population.
These are offered by new entrants, banks, or through partnerships. Of course, customers have to trust these new services. The combination of payment data with large volumes of personal data in particular could lead to privacy concerns among the general public.