The credit card market suffers from certain bottlenecks which can outline as follows.
In order to succeed in the credit card business the service provider has to find, locate and rope in safe and quality spenders who are not always easy to get.
The India laws are not much effective in dealing with payment defaulters and prevailing communication network is not efficient and effective which is essential for the success of financial service like credit cards.
Frauds like pilfered cards are only just being tackled at a concentrated level and service is also available not top notch either. Errors and commissions , irregularities in maintaining systematic records, purchases, miscalculated interest, delays in billing etc. are only some of the problems one has to face in this service.
Some card issuers are facing problems with mounting outstanding from card holders who are not card worthy.
In order to succeed in the credit card business the service provider has to find, locate and rope in safe and quality spenders who are not always easy to get.
The India laws are not much effective in dealing with payment defaulters and prevailing communication network is not efficient and effective which is essential for the success of financial service like credit cards.
Frauds like pilfered cards are only just being tackled at a concentrated level and service is also available not top notch either. Errors and commissions , irregularities in maintaining systematic records, purchases, miscalculated interest, delays in billing etc. are only some of the problems one has to face in this service.
Some card issuers are facing problems with mounting outstanding from card holders who are not card worthy.