Credit card apps are popular in India as customers seek convenience to manage their finances. With the rise of secure banking and e-commerce, credit card apps are more important than ever, and users are constantly looking for ways to improve the customer experience. This article will explore five credit card app customer experience trends to consider for 2024 in India.
Credit Card App Trends to Consider for 2024 in India
The trends that could potentially change how credit card companies engage with their customers and provide them with the tools and resources.
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Personalisation
Personalisation is an important trend in customer experience today. Credit card companies in India leverage customer data to offer customised offers, promotions and recommendations based on each user’s spending habits and financial goals.Â
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Mobile-first approach
In 2021, digital banking experience became the norm in India, and credit card apps must follow suit. A mobile-first approach means that the app is designed primarily for mobile devices, with features optimised for touchscreens and streamlined navigation. This makes the app more user-friendly and accessible to a wider range of customers.
Many credit card companies in India have already embraced a mobile-first approach, including ICICI Bank, which offers a mobile app that allows users to manage their credit cards and bank accounts in one place. Similarly, OneCard’s credit card mobile app offers features like mobile check deposits and quick access to account balances.
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Integration with other financial tools
Another trend to watch out for is the integration of credit card apps with other financial tools, such as budgeting and investment apps. By integrating with these other tools, credit card apps can give users a more comprehensive view of their financial situation, helping them make more informed decisions about their money.
For example, ETMoney is a popular budgeting and investment app that allows users to track their expenses, invest in mutual funds, and purchase insurance. The app can also be linked to credit card accounts, allowing users to see all their transactions in one place.
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Enhanced security features
As online banking and e-commerce continue to grow in India, so does the need for enhanced security features in credit card apps. Customers want to be sure that their personal and financial information is protected from hackers and cybercriminals, and credit card companies are responding by implementing stronger security measures.
For example, Axis Bank has introduced the “Secure +” feature, allowing users to set transaction limits, block international transactions, and set up alerts for suspicious activity. Similarly, Kotak Mahindra Bank offers features like one-time passwords and facial recognition to help protect users from identity theft and fraud.
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Focus on sustainability and social responsibility.
Finally, a trend to consider in the coming years is focusing on sustainability and social responsibility. As customers are increasingly being aware of their action’s impact on the environment and society, they are looking to credit card companies to take responsibility and make positive changes.
For example, SBI Card has launched a program called “SBI Card Elite Green” that offers eco-friendly rewards and discounts for customers who use their cards for sustainable purchases. Similarly, Axis Bank has committed to reducing its carbon footprint and promoting sustainability in its operations.
Conclusion
These five trends offer a glimpse into the future of credit card app customer experience in India. By focusing on personalisation, a mobile-first approach, integration with other financial tools, enhanced security features, and sustainability, credit card companies in India can provide their customers with a more comprehensive and user-friendly experience.