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Country Report

Financial Cards and Payments in

Financial Cards and Payments in China

Oct 2019

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Executive Summary

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Card payment sees strong growth in rapidly changing environment

In 2019, financial card transactions saw robust current value growth in the Chinese market, as consumers continued to move away from cash to alternative forms of payment. Amongst financial cards, credit cards saw the most dynamic performance in terms of both transaction value and number of cards in circulation.

Mobile payment becomes the default choice for Chinese consumers

China leads the world in terms of mobile payment. QR code payment is ubiquitous in the market, either linked to a bank account or e-wallet funds.

Industry opening up to foreign players

For years, UnionPay operated as a monopoly in China for all domestic currency transactions. However, the market is gradually opening up, allowing payment institutions with foreign investment to apply for the relevant payment licences.

Fintech companies developing wide-ranging financial services and payment offer

Fintech companies are building on their considerable data pools to incorporate payment services into broader ecosystems. Tech giant, Ant Financial Service Group, which includes Ant Financial and Alipay, is deepening its relationship with its users and offering diversified financial services including insurance, credit scoring schemes and loans.

Facial recognition payment set to expand during forecast period

Debit cards and credit cards are expected to see ongoing expansion over the forecast period. However, growth will take place in the context of a rapidly evolving environment, increasingly shaped by the process of digitalisation.

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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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Overview

Discover the latest market trends and uncover sources of future market growth for the Financial Cards and Payments industry in 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 Financial Cards and Payments industry in China, our research will save you time and money while empowering you to make informed, profitable decisions.

The Financial Cards and Payments in China market research report includes:

Analysis of key supply-side and demand trends
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 Financial Cards and Payments in China?
What are the major operators and issuers in China?
How will regulation impact the market?
What is the current state of emerging payment technologies such as mobile commerce?

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 Financial Cards and Payments in China, originate from our database within our Consumer Finance market share and market size database, Passport, a platform which analyses Consumer Finance in 46 countries and globally.

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Financial Cards and Payments in China - Industry Overview

EXECUTIVE SUMMARY

Card payment sees strong growth in rapidly changing environment

Mobile payment becomes the default choice for Chinese consumers

Industry opening up to foreign players

Fintech companies developing wide-ranging financial services and payment offer

Facial recognition payment set to expand during forecast period

MARKET INDICATORS

Table 1 Number of POS Terminals: Units 2014-2019
Table 2 Number of ATMs: Units 2014-2019
Table 3 Value Lost to Fraud 2014-2019
Table 4 Card Expenditure by Location 2019
Table 5 Financial Cards in Circulation by Type: % Number of Cards 2014-2019
Table 6 Domestic versus Foreign Spend 2019

MARKET DATA

Table 7 Financial Cards by Category: Number of Cards in Circulation 2014-2019
Table 8 Financial Cards by Category: Number of Accounts 2014-2019
Table 9 Financial Cards Transactions by Category: Value 2014-2019
Table 10 Financial Cards by Category: Number of Transactions 2014-2019
Table 11 Consumer Payments by Category: Value 2014-2019
Table 12 Consumer Payments by Category: Number of Transactions 2014-2019
Table 13 M-Commerce by Category: Value 2014-2019
Table 14 M-Commerce by Category: % Value Growth 2014-2019
Table 15 Financial Cards: Number of Cards by Issuer 2014-2018
Table 16 Financial Cards: Number of Cards by Operator 2014-2018
Table 17 Financial Cards: Card Payment Transactions Value by Operator 2014-2018
Table 18 Financial Cards: Card Payment Transactions Value by Issuer 2014-2018
Table 19 Forecast Financial Cards by Category: Number of Cards in Circulation 2019-2024
Table 20 Forecast Financial Cards by Category: Number of Accounts 2019-2024
Table 21 Forecast Financial Cards Transactions by Category: Value 2019-2024
Table 22 Forecast Financial Cards by Category: Number of Transactions 2019-2024
Table 23 Forecast Consumer Payments by Category: Value 2019-2024
Table 24 Forecast Consumer Payments by Category: Number of Transactions 2019-2024
Table 25 Forecast M-Commerce by Category: Value 2019-2024
Table 26 Forecast M-Commerce by Category: % Value Growth 2019-2024

SOURCES

Summary 1 Research Sources

Charge Cards in China - Category analysis

PROSPECTS

Credit Cards in China - Category analysis

HEADLINES

PROSPECTS

Banks’ growing focus on retail business driving credit card growth

Growing focus on increased value per card

Shift to mobile payment

COMPETITIVE LANDSCAPE

Advanced technology underpins China Merchants Bank’s competitive strength

Regional banks intensify competition

Concerns about imprudent lending

CATEGORY DATA

Table 27 Credit Cards: Number of Cards in Circulation 2014-2019
Table 28 Credit Cards Transactions 2014-2019
Table 29 Credit Cards in Circulation: % Growth 2014-2019
Table 30 Credit Cards Transactions: % Growth 2014-2019
Table 31 Commercial Credit Cards: Number of Cards in Circulation 2014-2019
Table 32 Commercial Credit Cards Transactions 2014-2019
Table 33 Commercial Credit Cards in Circulation: % Growth 2014-2019
Table 34 Commercial Credit Cards Transactions: % Growth 2014-2019
Table 35 Personal Credit Cards: Number of Cards in Circulation 2014-2019
Table 36 Personal Credit Cards Transactions 2014-2019
Table 37 Personal Credit Cards in Circulation: % Growth 2014-2019
Table 38 Personal Credit Cards Transactions: % Growth 2014-2019
Table 39 Credit Cards: Number of Cards by Issuer 2014-2018
Table 40 Credit Cards: Number of Cards by Operator 2014-2018
Table 41 Credit Cards Payment Transaction Value by Issuer 2014-2018
Table 42 Credit Cards Payment Transaction Value by Operator 2014-2018
Table 43 Commercial Credit Cards: Number of Cards by Issuer 2014-2018
Table 44 Commercial Credit Cards: Number of Cards by Operator 2014-2018
Table 45 Commercial Credit Cards Payment Transaction Value by Issuer 2014-2018
Table 46 Commercial Credit Cards Payment Transaction Value by Operator 2014-2018
Table 47 Personal Credit Cards: Number of Cards by Issuer 2014-2018
Table 48 Personal Credit Cards: Number of Cards by Operator 2014-2018
Table 49 Personal Credit Cards Payment Transaction Value by Issuer 2014-2018
Table 50 Personal Credit Cards Payment Transaction Value by Operator 2014-2018
Table 51 Forecast Credit Cards: Number of Cards in Circulation 2019-2024
Table 52 Forecast Credit Cards Transactions 2019-2024
Table 53 Forecast Credit Cards in Circulation: % Growth 2019-2024
Table 54 Forecast Credit Cards Transactions: % Growth 2019-2024
Table 55 Forecast Commercial Credit Cards: Number of Cards in Circulation 2019-2024
Table 56 Forecast Commercial Credit Cards Transactions 2019-2024
Table 57 Forecast Commercial Credit Cards in Circulation: % Growth 2019-2024
Table 58 Forecast Commercial Credit Cards Transactions: % Growth 2019-2024
Table 59 Forecast Personal Credit Cards: Number of Cards in Circulation 2019-2024
Table 60 Forecast Personal Credit Cards Transactions 2019-2024
Table 61 Forecast Personal Credit Cards in Circulation: % Growth 2019-2024
Table 62 Forecast Personal Credit Cards Transactions: % Growth 2019-2024

Debit Cards in China - Category analysis

HEADLINES

PROSPECTS

Popularity of e-wallets boosting debit cards

Quick Pass highlights relationship between digital payments and debit cards

Government digitalisation policies presenting opportunities

COMPETITIVE LANDSCAPE

China Construction Bank Corp focused on strengthening DragonPay

China Merchant Bank targets growing interest in children’s financial literacy

PSBC benefits from small town presence

CATEGORY DATA

Table 63 Debit Cards: Number of Cards in Circulation 2014-2019
Table 64 Debit Cards Transactions 2014-2019
Table 65 Debit Cards in Circulation: % Growth 2014-2019
Table 66 Debit Cards Transactions: % Growth 2014-2019
Table 67 Debit Cards: Number of Cards by Issuer 2014-2018
Table 68 Debit Cards: Number of Cards by Operator 2014-2018
Table 69 Debit Cards Payment Transaction Value by Issuer 2014-2018
Table 70 Debit Cards Payment Transaction Value by Operator 2014-2018
Table 71 Forecast Debit Cards: Number of Cards in Circulation 2019-2024
Table 72 Forecast Debit Cards Transactions 2019-2024
Table 73 Forecast Debit Cards in Circulation: % Growth 2019-2024
Table 74 Forecast Debit Cards Transactions: % Growth 2019-2024

Pre-Paid Cards in China - Category analysis

HEADLINES

PROSPECTS

New rule hits pre-paid card companies hard

QR codes taking over transportation payments

Loyalty programmes also subject to digitalisation

COMPETITIVE LANDSCAPE

Developing a single card transportation system

Transportation cards playing role in development of digital payment ecosystems

Associations established to regulate market

CATEGORY DATA

Table 75 Pre-paid Cards: Number of Cards in Circulation 2014-2019
Table 76 Pre-paid Cards Transactions 2014-2019
Table 77 Pre-paid Cards in Circulation: % Growth 2014-2019
Table 78 Pre-paid Cards Transactions: % Growth 2014-2019
Table 79 Closed Loop Pre-paid Cards Transactions 2014-2019
Table 80 Closed Loop Pre-paid Cards Transactions: % Growth 2014-2019
Table 81 Open Loop Pre-paid Cards Transactions 2014-2019
Table 82 Open Loop Pre-paid Cards Transactions: % Growth 2014-2019
Table 83 Pre-paid Cards: Number of Cards by Issuer 2014-2018
Table 84 Pre-paid Cards: Number of Cards by Operator 2014-2018
Table 85 Pre-paid Cards Transaction Value by Issuer 2014-2018
Table 86 Pre-paid Cards Transaction Value by Operator 2014-2018
Table 87 Closed Loop Pre-paid Cards: Number of Cards by Issuer 2014-2018
Table 88 Closed Loop Pre-paid Cards: Number of Cards by Operator 2014-2018
Table 89 Closed Loop Pre-paid Cards Transaction Value by Issuer 2014-2018
Table 90 Closed Loop Pre-paid Cards Transaction Value by Operator 2014-2018
Table 91 Open Loop Pre-paid Cards: Number of Cards by Issuer 2014-2018
Table 92 Open Loop Pre-paid Cards: Number of Cards by Operator 2014-2018
Table 93 Open Loop Pre-paid Cards Transaction Value by Issuer 2014-2018
Table 94 Open Loop Pre-paid Cards Transaction Value by Operator 2014-2018
Table 95 Forecast Pre-paid Cards: Number of Cards in Circulation 2019-2024
Table 96 Forecast Pre-paid Cards Transactions 2019-2024
Table 97 Forecast Pre-paid Cards in Circulation: % Growth 2019-2024
Table 98 Forecast Pre-paid Cards Transactions: % Growth 2019-2024
Table 99 Forecast Closed Loop Pre-paid Cards Transactions 2019-2024
Table 100 Forecast Closed Loop Pre-paid Cards Transactions: % Growth 2019-2024
Table 101 Forecast Open Loop Pre-paid Cards Transactions 2019-2024
Table 102 Forecast Open Loop Pre-paid Cards Transactions: % Growth 2019-2024

Megatrends

Country Report

Financial Cards and Payments in China

New Report Guarantee

Executive Summary

New Report Guarantee

Card payment sees strong growth in rapidly changing environment

Mobile payment becomes the default choice for Chinese consumers

Industry opening up to foreign players

Fintech companies developing wide-ranging financial services and payment offer

Facial recognition payment set to expand during forecast period

Overview

Why buy this report?

Samples (FAQs about samples):

Want to find out more about this report?

Table of Contents

Financial Cards and Payments in China - Industry Overview

EXECUTIVE SUMMARY

Card payment sees strong growth in rapidly changing environment

Mobile payment becomes the default choice for Chinese consumers

Industry opening up to foreign players

Fintech companies developing wide-ranging financial services and payment offer

Facial recognition payment set to expand during forecast period

MARKET INDICATORS

MARKET DATA

SOURCES

Charge Cards in China - Category analysis

PROSPECTS

Credit Cards in China - Category analysis

HEADLINES

PROSPECTS

Banks’ growing focus on retail business driving credit card growth

Growing focus on increased value per card

Shift to mobile payment

COMPETITIVE LANDSCAPE

Advanced technology underpins China Merchants Bank’s competitive strength

Regional banks intensify competition

Concerns about imprudent lending

CATEGORY DATA

Debit Cards in China - Category analysis

HEADLINES

PROSPECTS

Popularity of e-wallets boosting debit cards

Quick Pass highlights relationship between digital payments and debit cards

Government digitalisation policies presenting opportunities

COMPETITIVE LANDSCAPE

China Construction Bank Corp focused on strengthening DragonPay

China Merchant Bank targets growing interest in children’s financial literacy

PSBC benefits from small town presence

CATEGORY DATA

Pre-Paid Cards in China - Category analysis

HEADLINES

PROSPECTS

New rule hits pre-paid card companies hard

QR codes taking over transportation payments

Loyalty programmes also subject to digitalisation

COMPETITIVE LANDSCAPE

Developing a single card transportation system

Transportation cards playing role in development of digital payment ecosystems

Associations established to regulate market

CATEGORY DATA

Store Cards in China - Category analysis

PROSPECTS

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