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Country Report

Credit Card Transactions in

Credit Cards in Hong Kong, China

22 pages, Nov 2018

US$990

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Executive Summary

New Report Guarantee

If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE!

PROSPECTS

British Airways’ Avios a new option for air miles

Cathay Pacific’s Asia Miles was no longer the only air miles option available to credit card holders in Hong Kong in 2018, with British Airways’ Avios points being introduced as another alternative. According to industry sources, a growing number of card issuers are giving card holders the choice of either.

Cash remains the preferred type of reward

Among all the rewards available for credit card expenditure, cash remained the most popular in 2018. Multiple industry players have suggested that consumers prefer rewards which are “more liquid”, for example as if they were cash, such as supermarket coupons or reductions on their next credit card statement.

Slowdown predicted for commercial credit cards

Commercial credit cards provide businesses with various benefits. However, the rewards offered by commercial credit cards do not generally match those provided by personal credit cards.

COMPETITIVE LANDSCAPE

HSBC and DBS reward apps

Redeeming credit card rewards has long been a problem for credit card holders in Hong Kong, with credit card issuers looking to find a solution to this in 2018. As cash is the most popular type of reward, HSBC Reward+ and DBS Omni were created as mobile solutions to simplify the redemption process.

UnionPay gains share

UnionPay continued to gain ground in credit cards in 2017 thanks to not charging a fee on foreign currency transactions, with other credit card operators charging the holder a 2% fee per transaction on average. UnionPay also offers dual currency credit cards for the Hong Kong dollar and Chinese yuan, thus providing card holders with more payment flexibility while eliminating currency risk.

WeChat Pay and Alipay accept foreign credit card operators in 2018

With China’s payment landscape gradually opening up to international players, the two largest digital payment companies, WeChat Pay and Alipay, started to support foreign credit card operators in 2018. Prior to this, the only credit card operator which had a strategic alliance with the two Chinese digital payment giants was UnionPay, thus giving it a strategic advantage over foreign players.

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Overview

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Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.

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Charge Cards in Hong Kong, China - Category analysis

Charge Cards in Hong Kong, China - Company Profile

HEADLINES

PROSPECTS

Premiumisation in personal charge cards leading to a drop in number of cards in circulation

Commercial charge cards continue to outperform personal charge cards

COMPETITIVE LANDSCAPE

American Express continues to dominate charge cards

Diners Club continues to lose share

CATEGORY DATA

Table 1 Charge Cards: Number of Cards in Circulation 2013-2018
Table 2 Charge Cards Transactions 2013-2018
Table 3 Charge Cards in Circulation: % Growth 2013-2018
Table 4 Charge Cards Transactions: % Growth 2013-2018
Table 5 Commercial Charge Cards: Number of Cards in Circulation 2013-2018
Table 6 Commercial Charge Cards Transactions 2013-2018
Table 7 Commercial Charge Cards in Circulation: % Growth 2013-2018
Table 8 Commercial Charge Cards Transactions: % Growth 2013-2018
Table 9 Personal Charge Cards: Number of Cards in Circulation 2013-2018
Table 10 Personal Charge Cards Transactions 2013-2018
Table 11 Personal Charge Cards in Circulation: % Growth 2013-2018
Table 12 Personal Charge Cards Transactions: % Growth 2013-2018
Table 13 Charge Cards: Number of Cards by Issuer 2013-2017
Table 14 Charge Cards: Number of Cards by Operator 2013-2017
Table 15 Charge Cards Payment Transaction Value by Issuer 2013-2017
Table 16 Charge Cards Payment Transaction Value by Operator 2013-2017
Table 17 Commercial Charge Cards: Number of Cards by Issuer 2013-2017
Table 18 Commercial Charge Cards: Number of Cards by Operator 2013-2017
Table 19 Commercial Charge Cards Payment Transaction Value by Issuer 2013-2017
Table 20 Commercial Charge Cards Payment Transaction Value by Operator 2013-2017
Table 21 Personal Charge Cards: Number of Cards by Issuer 2013-2017
Table 22 Personal Charge Cards: Number of Cards by Operator 2013-2017
Table 23 Personal Charge Cards Transaction Value by Issuer 2013-2017
Table 24 Personal Charge Cards Transaction Value by Operator 2013-2017
Table 25 Forecast Charge Cards: Number of Cards in Circulation 2018-2023
Table 26 Forecast Charge Cards Transactions 2018-2023
Table 27 Forecast Charge Cards in Circulation: % Growth 2018-2023
Table 28 Forecast Charge Cards Transactions: % Growth 2018-2023
Table 29 Forecast Commercial Charge Cards: Number of Cards in Circulation 2018-2023
Table 30 Forecast Commercial Charge Cards Transactions 2018-2023
Table 31 Forecast Commercial Charge Cards in Circulation: % Growth 2018-2023
Table 32 Forecast Commercial Charge Cards Transactions: % Growth 2018-2023
Table 33 Forecast Personal Charge Cards: Number of Cards in Circulation 2018-2023
Table 34 Forecast Personal Charge Cards Transactions 2018-2023
Table 35 Forecast Personal Charge Cards in Circulation: % Growth 2018-2023
Table 36 Forecast Personal Charge Cards Transactions: % Growth 2018-2023

Credit Cards in Hong Kong, China - Category analysis

Credit Cards in Hong Kong, China - Company Profile

HEADLINES

PROSPECTS

British Airways’ Avios a new option for air miles

Cash remains the preferred type of reward

Slowdown predicted for commercial credit cards

COMPETITIVE LANDSCAPE

HSBC and DBS reward apps

UnionPay gains share

WeChat Pay and Alipay accept foreign credit card operators in 2018

CATEGORY DATA

Table 37 Credit Cards: Number of Cards in Circulation 2013-2018
Table 38 Credit Cards Transactions 2013-2018
Table 39 Credit Cards in Circulation: % Growth 2013-2018
Table 40 Credit Cards Transactions: % Growth 2013-2018
Table 41 Commercial Credit Cards: Number of Cards in Circulation 2013-2018
Table 42 Commercial Credit Cards Transactions 2013-2018
Table 43 Commercial Credit Cards in Circulation: % Growth 2013-2018
Table 44 Commercial Credit Cards Transactions: % Growth 2013-2018
Table 45 Personal Credit Cards: Number of Cards in Circulation 2013-2018
Table 46 Personal Credit Cards Transactions 2013-2018
Table 47 Personal Credit Cards in Circulation: % Growth 2013-2018
Table 48 Personal Credit Cards Transactions: % Growth 2013-2018
Table 49 Credit Cards: Number of Cards by Issuer 2013-2017
Table 50 Credit Cards: Number of Cards by Operator 2013-2017
Table 51 Credit Cards Payment Transaction Value by Issuer 2013-2017
Table 52 Credit Cards Payment Transaction Value by Operator 2013-2017
Table 53 Commercial Credit Cards: Number of Cards by Issuer 2013-2017
Table 54 Commercial Credit Cards: Number of Cards by Operator 2013-2017
Table 55 Commercial Credit Cards Payment Transaction Value by Issuer 2013-2017
Table 56 Commercial Credit Cards Payment Transaction Value by Operator 2013-2017
Table 57 Personal Credit Cards: Number of Cards by Issuer 2013-2017
Table 58 Personal Credit Cards: Number of Cards by Operator 2013-2017
Table 59 Personal Credit Cards Payment Transaction Value by Issuer 2013-2017
Table 60 Personal Credit Cards Payment Transaction Value by Operator 2013-2017
Table 61 Forecast Credit Cards: Number of Cards in Circulation 2018-2023
Table 62 Forecast Credit Cards Transactions 2018-2023
Table 63 Forecast Credit Cards in Circulation: % Growth 2018-2023
Table 64 Forecast Credit Cards Transactions: % Growth 2018-2023
Table 65 Forecast Commercial Credit Cards: Number of Cards in Circulation 2018-2023
Table 66 Forecast Commercial Credit Cards Transactions 2018-2023
Table 67 Forecast Commercial Credit Cards in Circulation: % Growth 2018-2023
Table 68 Forecast Commercial Credit Cards Transactions: % Growth 2018-2023
Table 69 Forecast Personal Credit Cards: Number of Cards in Circulation 2018-2023
Table 70 Forecast Personal Credit Cards Transactions 2018-2023
Table 71 Forecast Personal Credit Cards in Circulation: % Growth 2018-2023
Table 72 Forecast Personal Credit Cards Transactions: % Growth 2018-2023

Debit Cards in Hong Kong, China - Category analysis

Debit Cards in Hong Kong, China - Company Profile

HEADLINES

PROSPECTS

Number of debit cards in circulation continues to rise despite the emergence of digital payments

Debit card transaction volume and value losing ground to other payment methods

COMPETITIVE LANDSCAPE

Influx of tourists and businesses from mainland China serves to boost the share of UnionPay

Bank of China (Hong Kong) lowers onboarding requirements

CATEGORY DATA

Table 73 Debit Cards: Number of Cards in Circulation 2013-2018
Table 74 Debit Cards Transactions 2013-2018
Table 75 Debit Cards in Circulation: % Growth 2013-2018
Table 76 Debit Cards Transactions: % Growth 2013-2018
Table 77 Debit Cards: Number of Cards by Issuer 2013-2017
Table 78 Debit Cards: Number of Cards by Operator 2013-2017
Table 79 Debit Cards Payment Transaction Value by Issuer 2013-2017
Table 80 Debit Cards Payment Transaction Value by Operator 2013-2017
Table 81 Forecast Debit Cards: Number of Cards in Circulation 2018-2023
Table 82 Forecast Debit Cards Transactions 2018-2023
Table 83 Forecast Debit Cards in Circulation: % Growth 2018-2023
Table 84 Forecast Debit Cards Transactions: % Growth 2018-2023

Pre-Paid Cards in Hong Kong, China - Category analysis

Pre-Paid Cards in Hong Kong, China - Company Profile

HEADLINES

PROSPECTS

The indispensable open loop pre-paid card

Electronic payments pose a risk to open loop pre-paid cards

COMPETITIVE LANDSCAPE

Octopus competes with other payment instruments

CATEGORY DATA

Table 85 Pre-paid Cards: Number of Cards in Circulation 2013-2018
Table 86 Pre-paid Cards Transactions 2013-2018
Table 87 Pre-paid Cards in Circulation: % Growth 2013-2018
Table 88 Pre-paid Cards Transactions: % Growth 2013-2018
Table 89 Closed Loop Pre-paid Cards Transactions 2013-2018
Table 90 Closed Loop Pre-paid Cards Transactions: % Growth 2013-2018
Table 91 Open Loop Pre-paid Cards Transactions 2013-2018
Table 92 Open Loop Pre-paid Cards Transactions: % Growth 2013-2018
Table 93 Pre-paid Cards: Number of Cards by Issuer 2013-2017
Table 94 Pre-paid Cards: Number of Cards by Operator 2013-2017
Table 95 Pre-paid Cards Transaction Value by Issuer 2013-2017
Table 96 Pre-paid Cards Transaction Value by Operator 2013-2017
Table 97 Closed Loop Pre-paid Cards: Number of Cards by Issuer 2013-2017
Table 98 Closed Loop Pre-paid Cards: Number of Cards by Operator 2013-2017
Table 99 Closed Loop Pre-paid Cards Transaction Value by Issuer 2013-2017
Table 100 Closed Loop Pre-paid Cards Transaction Value by Operator 2013-2017
Table 101 Open Loop Pre-paid Cards: Number of Cards by Issuer 2013-2017
Table 102 Open Loop Pre-paid Cards: Number of Cards by Operator 2013-2017
Table 103 Open Loop Pre-paid Cards Transaction Value by Issuer 2013-2017
Table 104 Open Loop Pre-paid Cards Transaction Value by Operator 2013-2017
Table 105 Forecast Pre-paid Cards: Number of Cards in Circulation 2018-2023
Table 106 Forecast Pre-paid Cards Transactions 2018-2023
Table 107 Forecast Pre-paid Cards in Circulation: % Growth 2018-2023
Table 108 Forecast Pre-paid Cards Transactions: % Growth 2018-2023
Table 109 Forecast Closed Loop Pre-paid Cards Transactions 2018-2023
Table 110 Forecast Closed Loop Pre-paid Cards Transactions: % Growth 2018-2023
Table 111 Forecast Open Loop Pre-paid Cards Transactions 2018-2023
Table 112 Forecast Open Loop Pre-paid Cards Transactions: % Growth 2018-2023

Store Cards in Hong Kong, China - Category analysis

Store Cards in Hong Kong, China - Company Profile

PROSPECTS

Financial Cards and Payments in Hong Kong, China - Industry Overview

EXECUTIVE SUMMARY

Growing competition from mobile wallets impacting traditional payment methods

Increasing usage but lower transaction value

Rewards a major marketing tool

The race to frictionless payments

UnionPay continues to gain ground

MARKET INDICATORS

Table 113 Number of POS Terminals: Units 2013-2018
Table 114 Number of ATMs: Units 2013-2018
Table 115 Value Lost to Fraud 2013-2018
Table 116 Card Expenditure by Location 2017
Table 117 Financial Cards in Circulation by Type: % Number of Cards 2013-2018
Table 118 Domestic versus Foreign Spend 2018

MARKET DATA

Table 119 Financial Cards by Category: Number of Cards in Circulation 2013-2018
Table 120 Financial Cards by Category: Number of Accounts 2013-2018
Table 121 Financial Cards Transactions by Category: Value 2013-2018
Table 122 Financial Cards by Category: Number of Transactions 2013-2018
Table 123 Consumer Payments by Category: Value 2013-2018
Table 124 Consumer Payments by Category: Number of Transactions 2013-2018
Table 125 M-Commerce by Category: Value 2013-2018
Table 126 M-Commerce by Category: % Value Growth 2013-2018
Table 127 Financial Cards: Number of Cards by Issuer 2013-2017
Table 128 Financial Cards: Number of Cards by Operator 2013-2017
Table 129 Financial Cards: Card Payment Transactions Value by Operator 2013-2017
Table 130 Financial Cards: Card Payment Transactions Value by Issuer 2013-2017
Table 131 Forecast Financial Cards by Category: Number of Cards in Circulation 2018-2023
Table 132 Forecast Financial Cards by Category: Number of Accounts 2018-2023
Table 133 Forecast Financial Cards Transactions by Category: Value 2018-2023
Table 134 Forecast Financial Cards by Category: Number of Transactions 2018-2023
Table 135 Forecast Consumer Payments by Category: Value 2018-2023
Table 136 Forecast Consumer Payments by Category: Number of Transactions 2018-2023
Table 137 Forecast M-Commerce by Category: Value 2018-2023
Table 138 Forecast M-Commerce by Category: % Value Growth 2018-2023

Megatrends

Country Report

Credit Cards in Hong Kong, China

New Report Guarantee

Executive Summary

New Report Guarantee

PROSPECTS

British Airways’ Avios a new option for air miles

Cash remains the preferred type of reward

Slowdown predicted for commercial credit cards

COMPETITIVE LANDSCAPE

HSBC and DBS reward apps

UnionPay gains share

WeChat Pay and Alipay accept foreign credit card operators in 2018

Overview

Why buy this report?

Want to find out more about this report?

Table of Contents

Charge Cards in Hong Kong, China - Category analysis

Charge Cards in Hong Kong, China - Company Profile

HEADLINES

PROSPECTS

Premiumisation in personal charge cards leading to a drop in number of cards in circulation

Commercial charge cards continue to outperform personal charge cards

COMPETITIVE LANDSCAPE

American Express continues to dominate charge cards

Diners Club continues to lose share

CATEGORY DATA

Credit Cards in Hong Kong, China - Category analysis

Credit Cards in Hong Kong, China - Company Profile

HEADLINES

PROSPECTS

British Airways’ Avios a new option for air miles

Cash remains the preferred type of reward

Slowdown predicted for commercial credit cards

COMPETITIVE LANDSCAPE

HSBC and DBS reward apps

UnionPay gains share

WeChat Pay and Alipay accept foreign credit card operators in 2018

CATEGORY DATA

Debit Cards in Hong Kong, China - Category analysis

Debit Cards in Hong Kong, China - Company Profile

HEADLINES

PROSPECTS

Number of debit cards in circulation continues to rise despite the emergence of digital payments

Debit card transaction volume and value losing ground to other payment methods

COMPETITIVE LANDSCAPE

Influx of tourists and businesses from mainland China serves to boost the share of UnionPay

Bank of China (Hong Kong) lowers onboarding requirements

CATEGORY DATA

Pre-Paid Cards in Hong Kong, China - Category analysis

Pre-Paid Cards in Hong Kong, China - Company Profile

HEADLINES

PROSPECTS

The indispensable open loop pre-paid card

Electronic payments pose a risk to open loop pre-paid cards

COMPETITIVE LANDSCAPE

Octopus competes with other payment instruments

CATEGORY DATA

Store Cards in Hong Kong, China - Category analysis

Store Cards in Hong Kong, China - Company Profile

PROSPECTS

Financial Cards and Payments in Hong Kong, China - Industry Overview

EXECUTIVE SUMMARY

Growing competition from mobile wallets impacting traditional payment methods

Increasing usage but lower transaction value

Rewards a major marketing tool

The race to frictionless payments

UnionPay continues to gain ground

MARKET INDICATORS

MARKET DATA

SOURCES

Why buy this report?

Want to find out more about this report?

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