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Credit Cards Ranked Next Biggest Driver In Payment Landscape By 65% Of Fintech Leaders: Report
New Delhi: As many as 65 per cent of industry leaders identified credit cards as the top growth segment leading the next wave of transformation in India’s fintech and payments landscape, a report said on Wednesday. In the survey report from PwC India that surveyed 175 industry leaders who identified cards, over 90 per cent said that they believed in credit cards’ promising growth potential.
The survey revealed that 73 per cent of respondents expect Gen AI and Agentic AI to significantly impact the payments landscape. Nearly 50 per cent of the survey respondents believe that Agentic AI and biometric authentication are set to transform the user experience in digital payments.
Credit cards surpassed 100 million in FY24 and are projected to reach around 200 million by FY30 with robust transaction growth fuelled by product innovation and wider adoption, the report said. Debit cards, however, continue to decline as consumers increasingly prefer UPI and credit cards.
PwC forecasted that overall digital transaction volumes may nearly triple by FY30, driven by innovations across the ecosystem, increasing credit penetration, regulatory support, adoption of emerging technologies, and evolving consumer behaviour.
“India’s payments ecosystem is entering a new phase of maturity and integration. Over the next five years, we expect continued innovation and expansion of UPI, strong credit growth, and increasing convergence of payments with lending, insurance, and wealth. The key will be balancing innovation and scale with interoperability, security and inclusion to create a digital payments economy for the future,” said Mihir Gandhi, Partner and Leader – Payments Transformation and Fintech, PwC India
UPI accounted for 90 per cent of retail digital payment volumes in FY24–25, and its growth will be driven by offline adoption, interoperability, credit-linked use cases and emerging opportunities such as cross-border transactions.
As many as 70 per cent of respondents point to tokenisation and the RuPay–UPI linkage as key enablers, while 66 per cent viewed hyper-personalisation, easier authentication and credit on UPI as critical success factors.
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Trump nominates Erica Schwartz as CDC director amid turmoil around leadership, vaccine policy
Rear Admiral Erica G. Schwartz.
U.S. Department of Health and Human Services
President Donald Trump on Thursday nominated Erica Schwartz to serve as director of the Centers for Disease Control and Prevention, concluding a monthslong effort to choose a permanent leader of the embattled health agency.
Schwartz, who will have to be confirmed by the Senate, would take over the role as Health and Human Services Secretary Robert F. Kennedy Jr. oversees a string of controversial health policy changes at the agency, including an overhaul of childhood vaccine recommendations.
Schwartz served as deputy surgeon general during the first Trump administration, where she played a major role in the U.S. response to the Covid-19 pandemic. She spent more than 20 year in uniform, including as rear admiral and chief medical officer of the Coast Guard.
Dr. Jay Bhattacharya had been acting director of the CDC — a title that expired last month under federal law. That law, called the Vacancies Act, limits the amount of time an acting officer can serve in place of a Senate-confirmed official to 210 days.
Late last month marked 210 days since the most recent CDC director, Dr. Susan Monarez, was fired.
A sign sits outside of the Centers for Disease Control and Prevention (CDC) Roybal campus in Atlanta, Georgia, U.S. March 18, 2026.
Megan Varner | Reuters
She has so far been the only person to serve as a confirmed CDC director during Trump’s second term, holding the role for under a month last summer. In congressional testimony in September, Monarez said she was fired after refusing Kennedy’s demands to approve vaccine recommendations she believed lacked scientific support.
It is unclear how Schwartz’s views on vaccines or other key public health policies compare with Kennedy’s.
Also on Thursday, Trump said he chose Sean Slovenski as deputy CDC director and chief operating officer, and Jennifer Shuford as deputy CDC director and chief medical officer. Shuford, as head of the Texas Department of State Health Services, led the state’s response to a massive measles outbreak last year, and credited vaccination and testing in declaring it over.
Schwartz’s nomination comes after a tumultuous several months for the agency, which is reeling from the leadership upheaval, plummeting morale, significant staff turnover and controversial changes to U.S. vaccine policy. Ahead of leadership departures last year, staff members were shaken by a gunman’s attack on the CDC’s Atlanta headquarters on Aug. 8.
Last month, a judge blocked a critical vaccine panel’s efforts to overhaul U.S. immunization policy. That includes an effort to reduce the number of recommended childhood shots from 17 to 11.
Trust in federal health agencies has plummeted during Kennedy’s tenure as Health and Human Services secretary, according to a February poll from health policy research group KFF, with declines across the political spectrum.
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