Tim DraperFounder and Managing Partne, Draper Associate · I back the ideas that look crazy first

Did you know that only 3% of Indians use credit cards? 🚩

19 Oct 2025 · 1 min

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Tim Draper guesses 25% of Indians use credit cards, but the real number is 3%. He points to consumer fear of digital ads and online uncertainty, then describes a mobile app training gig workers as financial advisors in six languages to sell banking products via WhatsApp and Instagram in smaller Indian cities.

I have a question for you, Tim. What percentage of Indians do you think use a credit card?
Oh, probably 25%.
Yes. So now the stats are going to be really alarming. 3% Indians use credit cards. It is supposed to be a more trusting economy, but people are scared when they see digital ads. People don't know what to click, what not to click. We have a mobile app where we train a network of gig workers. We give them a mobile app. We are available in 6 different languages. They get the training and then they start selling in their local neighborhoods. So they use WhatsApp, they use Instagram, They use Telegram groups, advertise that they are a certified financial advisor who can sell the following products, and they're helping banks increase their penetration in tier 2, tier 3 cities.