Number of debit card topples 15%, strike a 2-year low
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The number of debit cards in India witnessed a two-year low in October with only 843 million of them in circulation opposing to 998 million in the same period last year. This is a 15% decline in two years in the total number of cards in circulation. Bankers revealed that around 155 million such cards were eliminated during the Europay/MasterCard/Visa or EMV migration from cards with magnetic strips to chip-based ones.