Are physical cards heading for extinction?

💳 Are Physical Cards Heading Towards Extinction?
Every year, without fail, I end up with a bunch of cards to discard, thanks to renewals or upgrades!
This year, while cleaning my “precious treasure” of cards, I paused to wonder -
👉 Will banks stop issuing physical cards altogether someday?
- #DebitCards have lost most of their purpose. The two basic use case of Debit cards, activating #UPI account is being taken over by #Aadhaar based authetication, other is #Cash Withdrawals from #ATMs, UPI is entering that segment too!
- #CreditCards - with #Rupay CC available on UPI rails, Tap & Pay gaining popularity, the need to carry them physically is shrinking fast.
I have over 20+ cards, yet rarely carry more than two!

From a #bank’s perspective, not issuing physical cards makes solid business sense:
💰 Each card costs anywhere between ₹150–₹400 to produce, personalize, and deliver. For permium cards, the cost can easily go over 1000 bucks!
📦 Multiply that by millions of cards and the savings are huge. Every month over 7 lakhs Credit Cards are issued in India, debit card number would be much higher!
The entire supply chain, right from generating the embossing file, printing, packaging, logistics, dispatch and tracking, adds to the cost.
(The only box, I still have is the 7-year-old #YesBank First Exclusive CC welcome kit, the design is really classy)

There is also the #sustainability aspect 🌱
Most cards are made of #PVC, a non-biodegradable #plastic. Add in the letters, pamphlets, and packaging, and we’re talking tons of waste each year! Most of it ends up in #landfills!

Many neo-banks in the country are taking the digital-only route, issuing physical cards only when requested!
Maybe, in the near future, banks will issue physical cards only on request, just like #ChequeBooks today!

But when that happens, one of my small joys will fade, collecting cards.
It’ll join my other retired hobbies, #stamp collection (thanks to private couriers) and #coin collection (thanks to UPI and Eclairs 😄).

Next year, I would face a bigger problem, have to discard a #MetalCard! Need to figure out how it can be disposed off securely! May be the bank can only guide. Or if anyone has found an effective way, do share.

So what do you think, do physical cards hold a future?