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Country Report

Financial Cards and Payments in

Financial Cards and Payments in China

43 pages, Nov 2018

US$2,100

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Executive Summary

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Card payment transaction value maintains strong growth

Card payments recorded strong growth in transaction value in current terms in 2018, thanks to resilient domestic demand and the healthy economic outlook. Credit cards led the overall growth of financial cards in both volume and value terms, due to promotions and financial literacy efforts regarding credit cards by commercial banks.

Commercial banks try to increase user take-up by developing payment apps

To compete with the overwhelming pressure from third-party payment platforms, commercial banks have been further developing and promoting their own upgraded bank apps, especially independent credit bank apps. Apart from the general features of bank account management, some apps also provide easy access to QR code payment, with similar interfaces to Alipay and WeChat Pay to make users feel comfortable.

Electronic direct transactions maintain robust growth

Electronic direct transactions saw strong growth momentum in 2018, mainly boosted by the rapid development of mobile payment, with China leading the revolution. Mobile payments can be processed by linked cards or e-wallets, which are regarded as electronic direct payments.

NetsUnion Clearing Corporation (NUCC) restructures the payment method

According to the People’s Bank of China (PBOC)’s No 114 announcement, starting from 30 June 2018, the original direct connection between commercial banks and third-party payment platforms will be cut off, and NUCC (NetsUnion Clearing Corporation), backed by the central bank, will take the place of the clearing and settlement channel to process all online payment transactions. As the first of its kind globally, the clearing house can provide the central bank with exact data for third-party payments, which can help it in terms of better supervision and curb financial risks.

Facial recognition payment is dipping its toes in the water

Banks and third-party payment companies keep experimenting in the biological payment arena. Facial recognition payment began to enter the market in 2018, because its nature of non-contact strongly improves the customer experience.

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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 transaction value maintains strong growth

Commercial banks try to increase user take-up by developing payment apps

Electronic direct transactions maintain robust growth

NetsUnion Clearing Corporation (NUCC) restructures the payment method

Facial recognition payment is dipping its toes in the water

MARKET INDICATORS

Table 1 Number of POS Terminals: Units 2013-2018
Table 2 Number of ATMs: Units 2013-2018
Table 3 Value Lost to Fraud 2013-2018
Table 4 Card Expenditure by Location 2017
Table 5 Financial Cards in Circulation by Type: % Number of Cards 2013-2018
Table 6 Domestic versus Foreign Spend 2018

MARKET DATA

Table 7 Financial Cards by Category: Number of Cards in Circulation 2013-2018
Table 8 Financial Cards by Category: Number of Accounts 2013-2018
Table 9 Financial Cards Transactions by Category: Value 2013-2018
Table 10 Financial Cards by Category: Number of Transactions 2013-2018
Table 11 Consumer Payments by Category: Value 2013-2018
Table 12 Consumer Payments by Category: Number of Transactions 2013-2018
Table 13 M-Commerce by Category: Value 2013-2018
Table 14 M-Commerce by Category: % Value Growth 2013-2018
Table 15 Financial Cards: Number of Cards by Issuer 2013-2017
Table 16 Financial Cards: Number of Cards by Operator 2013-2017
Table 17 Financial Cards: Card Payment Transactions Value by Operator 2013-2017
Table 18 Financial Cards: Card Payment Transactions Value by Issuer 2013-2017
Table 19 Forecast Financial Cards by Category: Number of Cards in Circulation 2018-2023
Table 20 Forecast Financial Cards by Category: Number of Accounts 2018-2023
Table 21 Forecast Financial Cards Transactions by Category: Value 2018-2023
Table 22 Forecast Financial Cards by Category: Number of Transactions 2018-2023
Table 23 Forecast Consumer Payments by Category: Value 2018-2023
Table 24 Forecast Consumer Payments by Category: Number of Transactions 2018-2023
Table 25 Forecast M-Commerce by Category: Value 2018-2023
Table 26 Forecast M-Commerce by Category: % Value Growth 2018-2023

SOURCES

Summary 1 Research Sources

Charge Cards in China - Category analysis

PROSPECTS

Credit Cards in China - Category analysis

HEADLINES

PROSPECTS

The boom in credit cards is coming

IT capability can be a critical success factor for scale

Capturing the younger generations remains the focus

COMPETITIVE LANDSCAPE

Embracing FinTech, China Merchants Bank takes the lead

Foreign operators are still frustrated in mainland China

Shanghai Pudong Development Bank sees a bright future

CATEGORY DATA

Table 27 Credit Cards: Number of Cards in Circulation 2013-2018
Table 28 Credit Cards Transactions 2013-2018
Table 29 Credit Cards in Circulation: % Growth 2013-2018
Table 30 Credit Cards Transactions: % Growth 2013-2018
Table 31 Commercial Credit Cards: Number of Cards in Circulation 2013-2018
Table 32 Commercial Credit Cards Transactions 2013-2018
Table 33 Commercial Credit Cards in Circulation: % Growth 2013-2018
Table 34 Commercial Credit Cards Transactions: % Growth 2013-2018
Table 35 Personal Credit Cards: Number of Cards in Circulation 2013-2018
Table 36 Personal Credit Cards Transactions 2013-2018
Table 37 Personal Credit Cards in Circulation: % Growth 2013-2018
Table 38 Personal Credit Cards Transactions: % Growth 2013-2018
Table 39 Credit Cards: Number of Cards by Issuer 2013-2017
Table 40 Credit Cards: Number of Cards by Operator 2013-2017
Table 41 Credit Cards Payment Transaction Value by Issuer 2013-2017
Table 42 Credit Cards Payment Transaction Value by Operator 2013-2017
Table 43 Commercial Credit Cards: Number of Cards by Issuer 2013-2017
Table 44 Commercial Credit Cards: Number of Cards by Operator 2013-2017
Table 45 Commercial Credit Cards Payment Transaction Value by Issuer 2013-2017
Table 46 Commercial Credit Cards Payment Transaction Value by Operator 2013-2017
Table 47 Personal Credit Cards: Number of Cards by Issuer 2013-2017
Table 48 Personal Credit Cards: Number of Cards by Operator 2013-2017
Table 49 Personal Credit Cards Payment Transaction Value by Issuer 2013-2017
Table 50 Personal Credit Cards Payment Transaction Value by Operator 2013-2017
Table 51 Forecast Credit Cards: Number of Cards in Circulation 2018-2023
Table 52 Forecast Credit Cards Transactions 2018-2023
Table 53 Forecast Credit Cards in Circulation: % Growth 2018-2023
Table 54 Forecast Credit Cards Transactions: % Growth 2018-2023
Table 55 Forecast Commercial Credit Cards: Number of Cards in Circulation 2018-2023
Table 56 Forecast Commercial Credit Cards Transactions 2018-2023
Table 57 Forecast Commercial Credit Cards in Circulation: % Growth 2018-2023
Table 58 Forecast Commercial Credit Cards Transactions: % Growth 2018-2023
Table 59 Forecast Personal Credit Cards: Number of Cards in Circulation 2018-2023
Table 60 Forecast Personal Credit Cards Transactions 2018-2023
Table 61 Forecast Personal Credit Cards in Circulation: % Growth 2018-2023
Table 62 Forecast Personal Credit Cards Transactions: % Growth 2018-2023

Debit Cards in China - Category analysis

HEADLINES

PROSPECTS

The aggressive rise of credit cards challenges the growth prospects for debit cards

Easy access to micropayments may be a new opportunity

Debit cards sees innovation in terms of implementing multiple accounts

COMPETITIVE LANDSCAPE

The UnionPay app consolidates its leading position

DragonPay helps to maintain the top place for China Construction Bank

The smart debit card with the internet gene is the new trend

CATEGORY DATA

Table 63 Debit Cards: Number of Cards in Circulation 2013-2018
Table 64 Debit Cards Transactions 2013-2018
Table 65 Debit Cards in Circulation: % Growth 2013-2018
Table 66 Debit Cards Transactions: % Growth 2013-2018
Table 67 Debit Cards: Number of Cards by Issuer 2013-2017
Table 68 Debit Cards: Number of Cards by Operator 2013-2017
Table 69 Debit Cards Payment Transaction Value by Issuer 2013-2017
Table 70 Debit Cards Payment Transaction Value by Operator 2013-2017
Table 71 Forecast Debit Cards: Number of Cards in Circulation 2018-2023
Table 72 Forecast Debit Cards Transactions 2018-2023
Table 73 Forecast Debit Cards in Circulation: % Growth 2018-2023
Table 74 Forecast Debit Cards Transactions: % Growth 2018-2023

Pre-Paid Cards in China - Category analysis

HEADLINES

PROSPECTS

Pre-paid cards sees sluggish growth due to security concerns

Transportation cards sees a digitalisation leap

Open-loop pre-paid cards steps into a freezing winter

COMPETITIVE LANDSCAPE

Direct third-party payment hampers growth in transportation cards

Digital upgrading with New Retail

Online red envelopes may take the place of open-loop pre-paid cards as gift cards

CATEGORY DATA

Table 75 Pre-paid Cards: Number of Cards in Circulation 2013-2018
Table 76 Pre-paid Cards Transactions 2013-2018
Table 77 Pre-paid Cards in Circulation: % Growth 2013-2018
Table 78 Pre-paid Cards Transactions: % Growth 2013-2018
Table 79 Closed Loop Pre-paid Cards Transactions 2013-2018
Table 80 Closed Loop Pre-paid Cards Transactions: % Growth 2013-2018
Table 81 Open Loop Pre-paid Cards Transactions 2013-2018
Table 82 Open Loop Pre-paid Cards Transactions: % Growth 2013-2018
Table 83 Pre-paid Cards: Number of Cards by Issuer 2013-2017
Table 84 Pre-paid Cards: Number of Cards by Operator 2013-2017
Table 85 Pre-paid Cards Transaction Value by Issuer 2013-2017
Table 86 Pre-paid Cards Transaction Value by Operator 2013-2017
Table 87 Closed Loop Pre-paid Cards: Number of Cards by Issuer 2013-2017
Table 88 Closed Loop Pre-paid Cards: Number of Cards by Operator 2013-2017
Table 89 Closed Loop Pre-paid Cards Transaction Value by Issuer 2013-2017
Table 90 Closed Loop Pre-paid Cards Transaction Value by Operator 2013-2017
Table 91 Open Loop Pre-paid Cards: Number of Cards by Issuer 2013-2017
Table 92 Open Loop Pre-paid Cards: Number of Cards by Operator 2013-2017
Table 93 Open Loop Pre-paid Cards Transaction Value by Issuer 2013-2017
Table 94 Open Loop Pre-paid Cards Transaction Value by Operator 2013-2017
Table 95 Forecast Pre-paid Cards: Number of Cards in Circulation 2018-2023
Table 96 Forecast Pre-paid Cards Transactions 2018-2023
Table 97 Forecast Pre-paid Cards in Circulation: % Growth 2018-2023
Table 98 Forecast Pre-paid Cards Transactions: % Growth 2018-2023
Table 99 Forecast Closed Loop Pre-paid Cards Transactions 2018-2023
Table 100 Forecast Closed Loop Pre-paid Cards Transactions: % Growth 2018-2023
Table 101 Forecast Open Loop Pre-paid Cards Transactions 2018-2023
Table 102 Forecast Open Loop Pre-paid Cards Transactions: % Growth 2018-2023

Megatrends

Country Report

Financial Cards and Payments in China

New Report Guarantee

Executive Summary

New Report Guarantee

Card payment transaction value maintains strong growth

Commercial banks try to increase user take-up by developing payment apps

Electronic direct transactions maintain robust growth

NetsUnion Clearing Corporation (NUCC) restructures the payment method

Facial recognition payment is dipping its toes in the water

Overview

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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 transaction value maintains strong growth

Commercial banks try to increase user take-up by developing payment apps

Electronic direct transactions maintain robust growth

NetsUnion Clearing Corporation (NUCC) restructures the payment method

Facial recognition payment is dipping its toes in the water

MARKET INDICATORS

MARKET DATA

SOURCES

Charge Cards in China - Category analysis

PROSPECTS

Credit Cards in China - Category analysis

HEADLINES

PROSPECTS

The boom in credit cards is coming

IT capability can be a critical success factor for scale

Capturing the younger generations remains the focus

COMPETITIVE LANDSCAPE

Embracing FinTech, China Merchants Bank takes the lead

Foreign operators are still frustrated in mainland China

Shanghai Pudong Development Bank sees a bright future

CATEGORY DATA

Debit Cards in China - Category analysis

HEADLINES

PROSPECTS

The aggressive rise of credit cards challenges the growth prospects for debit cards

Easy access to micropayments may be a new opportunity

Debit cards sees innovation in terms of implementing multiple accounts

COMPETITIVE LANDSCAPE

The UnionPay app consolidates its leading position

DragonPay helps to maintain the top place for China Construction Bank

The smart debit card with the internet gene is the new trend

CATEGORY DATA

Pre-Paid Cards in China - Category analysis

HEADLINES

PROSPECTS

Pre-paid cards sees sluggish growth due to security concerns

Transportation cards sees a digitalisation leap

Open-loop pre-paid cards steps into a freezing winter

COMPETITIVE LANDSCAPE

Direct third-party payment hampers growth in transportation cards

Digital upgrading with New Retail

Online red envelopes may take the place of open-loop pre-paid cards as gift cards

CATEGORY DATA

Store Cards in China - Category analysis

PROSPECTS

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