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Country Report

Debit Transactions in

Debit Cards in Hong Kong, China

Nov 2020

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!

2020 IMPACT

Personal debit cards benefit from drop in cash transactions

Debit cards lack popularity in Hong Kong as local consumers fundamentally tend to prefer credit cards and pre-paid cards to debit cards due to several reasons. Firstly, the local debit card system EPS can only be used in Hong Kong, meaning many consumers cannot use their debit cards when travelling abroad.

Number of debit cards continues to rise in line with the number of bank accounts

Despite the challenges posed by COVID-19, the number of debit cards in circulation has continued to rise in Hong Kong in 2020, despite low transaction volume and value. This is largely down to the fact that bank accounts in Hong Kong are typically linked with the issuance of the local EPS debit cards at no cost to the customer.

UnionPay’s key benefits lose appeal due to COVID-19

UnionPay International Co Ltd found success over the review period in its competition with EPS with it having the advantage of not charging any fees on foreign currency transactions and cash withdrawals. This saw UnionPay win share from EPS, with it benefiting from the rise in tourists from Mainland China which boosted demand for its debit cards.

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Overview

Why buy this report?

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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Overview

Discover the latest market trends and uncover sources of future market growth for the Debit Transactions industry in Hong Kong, China with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Debit Transactions industry in Hong Kong, China, our research will save you time and money while empowering you to make informed, profitable decisions.

The Debit Transactions in Hong Kong, China market research report includes:

Analysis of key supply-side and demand trends
Detailed segmentation of international and local products
Historic volumes and values, company and brand market shares
Five year forecasts of market trends and market growth
Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

What is the market size of Debit Transactions in Hong Kong, China?
What are the major operators and issuers in Hong Kong, China?
What is the current state and expected evolution of consumer payment preference?
What payment instrument offers the highest growth potential?
What strategies and positioning have consumer finance companies utilized to win in the market?

Why buy this report?

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

Euromonitor’s industry reports, including Debit Transactions in Hong Kong, China, originate from our database within our Consumer Finance market share and market size database.

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Charge Cards in Hong Kong, China - Category analysis

Charge Cards in Hong Kong, China - Company Profile

KEY DATA FINDINGS

2020 IMPACT

Reliance on travel, tourism and foreign transactions puts pressure on charge cards

American Express dominates but loses customers due to COVID-19

Diners Club disappearing from the market as it struggles to compete with American Express

RECOVERY AND OPPORTUNITIES

Charge cards expected to continue on a downward trajectory

American Express launches 2020 Love Local campaign with the future of charge cards resting on its shoulders

Diners Club likely to retain niche status without significant investment

CATEGORY DATA

Table 1 Charge Cards: Number of Cards in Circulation 2015-2020
Table 2 Charge Cards Transactions 2015-2020
Table 3 Charge Cards in Circulation: % Growth 2015-2020
Table 4 Charge Cards Transactions: % Growth 2015-2020
Table 5 Commercial Charge Cards: Number of Cards in Circulation 2015-2020
Table 6 Commercial Charge Cards Transactions 2015-2020
Table 7 Commercial Charge Cards in Circulation: % Growth 2015-2020
Table 8 Commercial Charge Cards Transactions: % Growth 2015-2020
Table 9 Personal Charge Cards: Number of Cards in Circulation 2015-2020
Table 10 Personal Charge Cards Transactions 2015-2020
Table 11 Personal Charge Cards in Circulation: % Growth 2015-2020
Table 12 Personal Charge Cards Transactions: % Growth 2015-2020
Table 13 Charge Cards: Number of Cards by Issuer 2015-2019
Table 14 Charge Cards: Number of Cards by Operator 2015-2019
Table 15 Charge Cards Payment Transaction Value by Issuer 2015-2019
Table 16 Charge Cards Payment Transaction Value by Operator 2015-2019
Table 17 Commercial Charge Cards: Number of Cards by Issuer 2015-2019
Table 18 Commercial Charge Cards: Number of Cards by Operator 2015-2019
Table 19 Commercial Charge Cards Payment Transaction Value by Issuer 2015-2019
Table 20 Commercial Charge Cards Payment Transaction Value by Operator 2015-2019
Table 21 Personal Charge Cards: Number of Cards by Issuer 2015-2019
Table 22 Personal Charge Cards: Number of Cards by Operator 2015-2019
Table 23 Personal Charge Cards Transaction Value by Issuer 2015-2019
Table 24 Personal Charge Cards Transaction Value by Operator 2015-2019
Table 25 Forecast Charge Cards: Number of Cards in Circulation 2020-2025
Table 26 Forecast Charge Cards Transactions 2020-2025
Table 27 Forecast Charge Cards in Circulation: % Growth 2020-2025
Table 28 Forecast Charge Cards Transactions: % Growth 2020-2025
Table 29 Forecast Commercial Charge Cards: Number of Cards in Circulation 2020-2025
Table 30 Forecast Commercial Charge Cards Transactions 2020-2025
Table 31 Forecast Commercial Charge Cards in Circulation: % Growth 2020-2025
Table 32 Forecast Commercial Charge Cards Transactions: % Growth 2020-2025
Table 33 Forecast Personal Charge Cards: Number of Cards in Circulation 2020-2025
Table 34 Forecast Personal Charge Cards Transactions 2020-2025
Table 35 Forecast Personal Charge Cards in Circulation: % Growth 2020-2025
Table 36 Forecast Personal Charge Cards Transactions: % Growth 2020-2025

Credit Cards in Hong Kong, China - Category analysis

Credit Cards in Hong Kong, China - Company Profile

KEY DATA FINDINGS

2020 IMPACT

Consumers curb spending due to economic uncertainty

Priorities change due to COVID-19

Standard Chartered responds to COVID-19 with new application requirements

RECOVERY AND OPPORTUNITIES

Credit cards expected to see a swift recovery once restrictions are lifted

New technology offers potential for credit cards

Apple Card generating some excitement

CATEGORY DATA

Table 37 Credit Cards: Number of Cards in Circulation 2015-2020
Table 38 Credit Cards Transactions 2015-2020
Table 39 Credit Cards in Circulation: % Growth 2015-2020
Table 40 Credit Cards Transactions: % Growth 2015-2020
Table 41 Commercial Credit Cards: Number of Cards in Circulation 2015-2020
Table 42 Commercial Credit Cards Transactions 2015-2020
Table 43 Commercial Credit Cards in Circulation: % Growth 2015-2020
Table 44 Commercial Credit Cards Transactions: % Growth 2015-2020
Table 45 Personal Credit Cards: Number of Cards in Circulation 2015-2020
Table 46 Personal Credit Cards Transactions 2015-2020
Table 47 Personal Credit Cards in Circulation: % Growth 2015-2020
Table 48 Personal Credit Cards Transactions: % Growth 2015-2020
Table 49 Credit Cards: Number of Cards by Issuer 2015-2019
Table 50 Credit Cards: Number of Cards by Operator 2015-2019
Table 51 Credit Cards Payment Transaction Value by Issuer 2015-2019
Table 52 Credit Cards Payment Transaction Value by Operator 2015-2019
Table 53 Commercial Credit Cards: Number of Cards by Issuer 2015-2019
Table 54 Commercial Credit Cards: Number of Cards by Operator 2015-2019
Table 55 Commercial Credit Cards Payment Transaction Value by Issuer 2015-2019
Table 56 Commercial Credit Cards Payment Transaction Value by Operator 2015-2019
Table 57 Personal Credit Cards: Number of Cards by Issuer 2015-2019
Table 58 Personal Credit Cards: Number of Cards by Operator 2015-2019
Table 59 Personal Credit Cards Payment Transaction Value by Issuer 2015-2019
Table 60 Personal Credit Cards Payment Transaction Value by Operator 2015-2019
Table 61 Forecast Credit Cards: Number of Cards in Circulation 2020-2025
Table 62 Forecast Credit Cards Transactions 2020-2025
Table 63 Forecast Credit Cards in Circulation: % Growth 2020-2025
Table 64 Forecast Credit Cards Transactions: % Growth 2020-2025
Table 65 Forecast Commercial Credit Cards: Number of Cards in Circulation 2020-2025
Table 66 Forecast Commercial Credit Cards Transactions 2020-2025
Table 67 Forecast Commercial Credit Cards in Circulation: % Growth 2020-2025
Table 68 Forecast Commercial Credit Cards Transactions: % Growth 2020-2025
Table 69 Forecast Personal Credit Cards: Number of Cards in Circulation 2020-2025
Table 70 Forecast Personal Credit Cards Transactions 2020-2025
Table 71 Forecast Personal Credit Cards in Circulation: % Growth 2020-2025
Table 72 Forecast Personal Credit Cards Transactions: % Growth 2020-2025

Debit Cards in Hong Kong, China - Category analysis

Debit Cards in Hong Kong, China - Company Profile

KEY DATA FINDINGS

2020 IMPACT

Personal debit cards benefit from drop in cash transactions

Number of debit cards continues to rise in line with the number of bank accounts

UnionPay’s key benefits lose appeal due to COVID-19

RECOVERY AND OPPORTUNITIES

Debit cards set for challenging forecast period

Virtual banking threatens the future of debit cards

Could virtual banking also present an opportunity?

CATEGORY DATA

Table 73 Debit Cards: Number of Cards in Circulation 2015-2020
Table 74 Debit Cards Transactions 2015-2020
Table 75 Debit Cards in Circulation: % Growth 2015-2020
Table 76 Debit Cards Transactions: % Growth 2015-2020
Table 77 Debit Cards: Number of Cards by Issuer 2015-2019
Table 78 Debit Cards: Number of Cards by Operator 2015-2019
Table 79 Debit Cards Payment Transaction Value by Issuer 2015-2019
Table 80 Debit Cards Payment Transaction Value by Operator 2015-2019
Table 81 Forecast Debit Cards: Number of Cards in Circulation 2020-2025
Table 82 Forecast Debit Cards Transactions 2020-2025
Table 83 Forecast Debit Cards in Circulation: % Growth 2020-2025
Table 84 Forecast Debit Cards Transactions: % Growth 2020-2025

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

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

KEY DATA FINDINGS

2020 IMPACT

Consumers remain at home putting dent in pre-paid card transactions

Octopus and coffee fuel pre-paid cards

Octopus looks to extend its reach into more areas

RECOVERY AND OPPORTUNITIES

Once COVID-19 is contained pre-paid cards should return to growth

Octopus appoints new CEO as it eyes further expansion

Increasing competition expected to test pre-paid cards

CATEGORY DATA

Table 85 Pre-paid Cards: Number of Cards in Circulation 2015-2020
Table 86 Pre-paid Cards Transactions 2015-2020
Table 87 Pre-paid Cards in Circulation: % Growth 2015-2020
Table 88 Pre-paid Cards Transactions: % Growth 2015-2020
Table 89 Closed Loop Pre-paid Cards Transactions 2015-2020
Table 90 Closed Loop Pre-paid Cards Transactions: % Growth 2015-2020
Table 91 Open Loop Pre-paid Cards Transactions 2015-2020
Table 92 Open Loop Pre-paid Cards Transactions: % Growth 2015-2020
Table 93 Pre-paid Cards: Number of Cards by Issuer 2015-2019
Table 94 Pre-paid Cards: Number of Cards by Operator 2015-2019
Table 95 Pre-paid Cards Transaction Value by Issuer 2015-2019
Table 96 Pre-paid Cards Transaction Value by Operator 2015-2019
Table 97 Closed Loop Pre-paid Cards: Number of Cards by Issuer 2015-2019
Table 98 Closed Loop Pre-paid Cards: Number of Cards by Operator 2015-2019
Table 99 Closed Loop Pre-paid Cards Transaction Value by Issuer 2015-2019
Table 100 Closed Loop Pre-paid Cards Transaction Value by Operator 2015-2019
Table 101 Open Loop Pre-paid Cards: Number of Cards by Issuer 2015-2019
Table 102 Open Loop Pre-paid Cards: Number of Cards by Operator 2015-2019
Table 103 Open Loop Pre-paid Cards Transaction Value by Issuer 2015-2019
Table 104 Open Loop Pre-paid Cards Transaction Value by Operator 2015-2019
Table 105 Forecast Pre-paid Cards: Number of Cards in Circulation 2020-2025
Table 106 Forecast Pre-paid Cards Transactions 2020-2025
Table 107 Forecast Pre-paid Cards in Circulation: % Growth 2020-2025
Table 108 Forecast Pre-paid Cards Transactions: % Growth 2020-2025
Table 109 Forecast Closed Loop Pre-paid Cards Transactions 2020-2025
Table 110 Forecast Closed Loop Pre-paid Cards Transactions: % Growth 2020-2025
Table 111 Forecast Open Loop Pre-paid Cards Transactions 2020-2025
Table 112 Forecast Open Loop Pre-paid Cards Transactions: % Growth 2020-2025

Store Cards in Hong Kong, China - Category analysis

Store Cards in Hong Kong, China - Company Profile

RECOVERY AND OPPORTUNITIES

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

EXECUTIVE SUMMARY

COVID-19 impact on consumer payments

COVID-19 country impact

Hong Kong’s government and its banks step into support consumers and businesses

Virtual banking expands

Card providers under pressure as spending drops

What next for consumer payments?

MARKET INDICATORS

Table 113 Forecast Open Loop Pre-paid Cards Transactions 2020-2025

MARKET DATA

Table 114 Financial Cards by Category: Number of Cards in Circulation 2015-2020
Table 115 Financial Cards by Category: Number of Accounts 2015-2020
Table 116 Financial Cards Transactions by Category: Value 2015-2020
Table 117 Financial Cards by Category: Number of Transactions 2015-2020
Table 118 Consumer Payments by Category: Value 2015-2020
Table 119 Consumer Payments by Category: Number of Transactions 2015-2020
Table 120 M-Commerce by Category: Value 2015-2020
Table 121 M-Commerce by Category: % Value Growth 2015-2020
Table 122 Financial Cards: Number of Cards by Issuer 2015-2019
Table 123 Financial Cards: Number of Cards by Operator 2015-2019
Table 124 Financial Cards: Card Payment Transactions Value by Operator 2015-2019
Table 125 Financial Cards: Card Payment Transactions Value by Issuer 2015-2019
Table 126 Forecast Financial Cards by Category: Number of Cards in Circulation 2020-2025
Table 127 Forecast Financial Cards by Category: Number of Accounts 2020-2025
Table 128 Forecast Financial Cards Transactions by Category: Value 2020-2025
Table 129 Forecast Financial Cards by Category: Number of Transactions 2020-2025
Table 130 Forecast Consumer Payments by Category: Value 2020-2025
Table 131 Forecast Consumer Payments by Category: Number of Transactions 2020-2025
Table 132 Forecast M-Commerce by Category: Value 2020-2025
Table 133 Forecast M-Commerce by Category: % Value Growth 2020-2025

Megatrends

Country Report

Debit Cards in Hong Kong, China

New Report Guarantee

Executive Summary

New Report Guarantee

2020 IMPACT

Personal debit cards benefit from drop in cash transactions

Number of debit cards continues to rise in line with the number of bank accounts

UnionPay’s key benefits lose appeal due to COVID-19

Overview

Why buy this report?

SAMPLES

Delivery Method

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

KEY DATA FINDINGS

2020 IMPACT

Reliance on travel, tourism and foreign transactions puts pressure on charge cards

American Express dominates but loses customers due to COVID-19

Diners Club disappearing from the market as it struggles to compete with American Express

RECOVERY AND OPPORTUNITIES

Charge cards expected to continue on a downward trajectory

American Express launches 2020 Love Local campaign with the future of charge cards resting on its shoulders

Diners Club likely to retain niche status without significant investment

CATEGORY DATA

Credit Cards in Hong Kong, China - Category analysis

Credit Cards in Hong Kong, China - Company Profile

KEY DATA FINDINGS

2020 IMPACT

Consumers curb spending due to economic uncertainty

Priorities change due to COVID-19

Standard Chartered responds to COVID-19 with new application requirements

RECOVERY AND OPPORTUNITIES

Credit cards expected to see a swift recovery once restrictions are lifted

New technology offers potential for credit cards

Apple Card generating some excitement

CATEGORY DATA

Debit Cards in Hong Kong, China - Category analysis

Debit Cards in Hong Kong, China - Company Profile

KEY DATA FINDINGS

2020 IMPACT

Personal debit cards benefit from drop in cash transactions

Number of debit cards continues to rise in line with the number of bank accounts

UnionPay’s key benefits lose appeal due to COVID-19

RECOVERY AND OPPORTUNITIES

Debit cards set for challenging forecast period

Virtual banking threatens the future of debit cards

Could virtual banking also present an opportunity?

CATEGORY DATA

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

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

KEY DATA FINDINGS

2020 IMPACT

Consumers remain at home putting dent in pre-paid card transactions

Octopus and coffee fuel pre-paid cards

Octopus looks to extend its reach into more areas

RECOVERY AND OPPORTUNITIES

Once COVID-19 is contained pre-paid cards should return to growth

Octopus appoints new CEO as it eyes further expansion

Increasing competition expected to test pre-paid cards

CATEGORY DATA

Store Cards in Hong Kong, China - Category analysis

Store Cards in Hong Kong, China - Company Profile

RECOVERY AND OPPORTUNITIES

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

EXECUTIVE SUMMARY

COVID-19 impact on consumer payments

COVID-19 country impact

Hong Kong’s government and its banks step into support consumers and businesses

Virtual banking expands

Card providers under pressure as spending drops

What next for consumer payments?

MARKET INDICATORS

MARKET DATA

DISCLAIMER