by Kunal Shah
New Delhi, May 29, 2020: We have noticed that credit card spends have gone up by 50% in COVID times, and people are paying rent via credit cards on CRED. However, there are some categories that have shown some very interesting results, for example, people are spending way more on subscriptions than they have done before, lot more on insurance, healthcare. Recently we launched a category for rental payments online and we saw some immense growth and people are actually paying their home rent through credit cards and this is a very unusual behavior that has never been done before where people are actually trying to create a new pattern of behavior. For the first time, we have an event that is likely to change consumer behavior forever. I think the opportunity over here is that considering tech companies largely focus on increasing efficiency, there cannot be a better time for some of these tech companies to sort of accelerate these journeys and play a role of a catalyst.
Corporate Comm India(CCI Newswire)
