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Hong Kong Cards and Payments: Opportunities and Risks to 2029

Publisher GlobalData
Published Jul 10, 2025
Length 95 Pages
SKU # GBDT20265884

Description

Hong Kong Cards and Payments: Opportunities and Risks to 2029

Summary

GlobalData’s ‘Hong Kong Cards and Payments: Opportunities and Risks to 2029' report provides detailed analysis of market trends in the Hong Kong cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cash, card, credit transfer, direct debits, and cheques during the review-period (2021-25e).

The report also analyzes various payment card markets operating in the industry and provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2025e-29f). It also offers information on the country's competitive landscape, including market shares of issuers and schemes.

The report brings together GlobalData’s research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers detailed regulatory policies and recent changes in regulatory structure.

GlobalData’s ‘Hong Kong Cards and Payments: Opportunities and Risks to 2029' report provides top-level market analysis, information and insights into the Hong Kong cards and payments industry, including -
  • Current and forecast values for each market in the Hong Kong cards and payments industry, including debit, credit and charge cards.
  • Detailed insights into payment instruments including cash, card, credit transfer, direct debits, and cheques . It also, includes an overview of the country's key alternative payment instruments.
  • Ecommerce market analysis.
  • Analysis of various market drivers and regulations governing the Hong Kong cards and payments industry.
  • Detailed analysis of strategies adopted by banks and other institutions to market debit, credit and charge cards.
  • Comprehensive analysis of consumer attitudes and buying preferences for cards.
  • The competitive landscape of the Hong Kong cards and payments industry.
Key Highlights
  • Hong Kong is experiencing a notable increase in the use of contactless payments, particularly for public transportation fares. In August 2024, Mastercard announced its integration into the Mass Transit Railway Corporation’s (MTR Corporation) contactless card payment services. This advancement permits Mastercard card holders to utilize their contactless payment cards at MTR entry and exit gates when traveling on the MTR heavy rail network, excluding the Airport Express. Tourists are afforded the convenience of paying fares across a comprehensive range of local public transportation options. These include Star Ferry, Tramways, buses (with the exception of New Lantao Bus routes), the Peak Tram, select ferry services, and taxis.
  • The Hong Kong Monetary Authority (HKMA), banking regulators, and payment participants are actively engaged in efforts to raise awareness about payment security for online payments. In August 2024, the HKMA, in collaboration with the Hong Kong Police Force and the Hong Kong Association of Banks (HKAB), announced that 32 banks and 10 stored value facility operators will expand the coverage of the 'Suspicious Account Alert' system. This expansion applies to both internet banking and transactions conducted at physical branches; offering customers protection against the increasing risks of fraud. Under this, customers will receive an alert message indicating a high fraud risk if the payee's account number, cell phone number, email address or Faster Payment System (FPS) Identifier is labeled as ‘High Risk’ in the Scameter mobile app.
  • Cashless payments are prevalent in the realm of public transportation. In a notable development from April 2024, Wonder, a Hong Kong fintech firm and subsidiary of Bindo Labs, received authorization from the Transport Department to implement its smart taximeter with e-payments enabled in local taxis. The Taxi Pay x Wonder system, commonly referred to as Taxi Pay, offers users an array of 18 local and international payment methods integrated with the smart taximeter. Consequently, taxi passengers can opt to pay by scanning a QR code on their cell phones or by tapping their cards on the payment terminal, with taxi fares directly connected to the smart taximeter.
Scope
  • Card market size in terms of number of cards, value and volume of transactions in Hong Kong along with detailed card segmentation of debit, credit and charge cards available in the country.
  • Market sizing and analysis of major payment instruments including cash, card, credit transfer, direct debits, and cheques.
  • Payment market trends and growth for both historical and forecast period
  • Competitor analysis with detailed insights into leading card issuers and schemes.
  • Comprehensive analysis of consumer attitudes and buying preferences for cards.
  • A detailed snapshot of country's key alternative payment brands.
Reasons to Buy
  • Make strategic business decisions, using top-level historic and forecast market data, related to the Hong Kong cards and payments industry and each market within it.
  • Understand the key market trends and growth opportunities in the Hong Kong cards and payments industry.
  • Assess the competitive dynamics in the Hong Kong cards and payments industry.
  • Gain insights into marketing strategies used for various card types in Hong Kong.
  • Gain insights into key regulations governing the Hong Kong cards and payments industry.

Table of Contents

95 Pages
  • Executive Summary
    • Hong Kong : Key facts, 2023e
    • Hong Kong : Benchmarking of payment cards, 2025e
    • Instant Payments
    • Payment Cards: Market Sizing and Forecasting
    • Payment Cards: Market by Product and Service Type
    • Debit Cards: Market Sizing and Forecasting
    • Debit Cards: Schemes
    • Debit Cards: Issuers
    • Credit and Charge Cards: Market Sizing and Forecasting
    • Credit and Charge Cards: Schemes
    • Credit and Change Cards: Issuers
    • Credit Card Debt
    • Prepaid Cards: Market Sizing and Forecasting
    • Contactless Cards: Card Holding
    • Acquiring and Processing
    • Retail: Market Sizing and Forecasting
    • Ecommerce: Market Sizing and Forecasting
    • Ecommerce: Market by Products and Services
    • Ecommerce: Market by Payment Tool
    • In-Store Payments: Market by Payment Tools
    • In-Store Payments: Market by Products and Services
    • Buy Now Pay Later: Online Purchasing
    • Mobile Proximity Payments
  • P2P Payments
  • Bill Payments
    • Alternative Payments: Payment Solutions
  • Payment Innovations
  • Job Analysis
    • POS Terminals and ATMs
    • Regulatory Environment
    • Hong Kong: payment instrument transaction values (HKD trillions), 2021-29f
    • Hong Kong: payment instrument transaction values ($ billions), 2021-29f
    • Hong Kong: payment instrument transaction volumes (billions), 2021-29f
    • Hong Kong: payment cards in circulation by type (millions), 2021-29f
    • Hong Kong: volume of payment card transactions (millions), 2021-29f
    • Hong Kong: value of payment card transactions (HKD billions), 2021-29f
    • Hong Kong: value of payment card transactions ($ billions), 2021-29f
    • Hong Kong: debit cards in circulation (millions), 2021-29f
    • Hong Kong: debit card transaction volumes, 2021-29f
    • Hong Kong: debit card transaction values (HKD), 2021-29f
    • Hong Kong: debit card transaction values ($), 2021-29f
    • Hong Kong: debit cards in circulation by scheme (000s), 2021-25e
    • Hong Kong: debit card transaction values by scheme (HKD billions), 2021-25e
    • Hong Kong: debit card transaction values by scheme ($ billions), 2021-25e
    • Hong Kong: debit cards in circulation by issuer (000s), 2021-25e
    • Hong Kong: debit cards transaction value by issuer (HKD billions), 2021-25e
    • Hong Kong: debit cards transaction value by issuer ($ billions), 2021-25e
    • Hong Kong: credit and charge cards in circulation (millions), 2021-29f
    • Hong Kong: credit and charge card transaction volumes, 2021-29f
    • Hong Kong: credit and charge card transaction values (HKD), 2021-29f
    • Hong Kong: credit and charge card transaction values ($), 2021-29f
    • Hong Kong: credit and charge cards in circulation by scheme (millions), 2021-25e
    • Hong Kong: credit and charge card transaction values by scheme (HKD billions), 2021-25e
    • Hong Kong: credit and charge card transaction values by scheme ($ billions), 2021-25e
    • Hong Kong: credit and charge cards in circulation by issuer (millions), 2021-25e
    • Hong Kong: credit and charge cards transaction value by issuer (HKD billions), 2021-25e
    • Hong Kong: credit and charge cards transaction value by issuer ($ billions), 2021-25e
    • Hong Kong: credit cards in circulation (millions), 2020-28f
    • Hong Kong: credit card transaction volumes, 2021-29f
    • Hong Kong: credit card transaction values (HKD), 2021-29f
    • Hong Kong: credit card transaction values ($), 2021-29f
    • Hong Kong: credit cards in circulation by scheme (millions), 2021-25e
    • Hong Kong: credit card transaction values by scheme (HKD billions), 2021-25e
    • Hong Kong: credit card transaction values by scheme ($ billions), 2021-25e
    • Hong Kong: charge cards in circulation (000s), 2021-29f
    • Hong Kong: charge card transaction volumes, 2021-29f
    • Hong Kong: charge card transaction values (HKD), 2021-29f
    • Hong Kong: charge card transaction values ($), 2021-29f
    • Hong Kong: charge cards in circulation by scheme (000s), 2021-25e
    • Hong Kong: charge card transaction values by scheme (HKD billions), 2021-25e
    • Hong Kong: charge card transaction values by scheme ($ millions), 2021-25e
    • Hong Kong: prepaid card transaction values (HKD billions), 2021-25e
    • Hong Kong: prepaid card transaction values ($ billions), 2021-25e
    • Hong Kong: prepaid cards in circulation (millions), 2021-25e
    • Hong Kong: merchant acquiring transaction values (HKD billions), 2021-29f
    • Hong Kong: merchant acquiring transaction values ($ billions), 2021-29f
    • Hong Kong: merchant acquiring transaction volumes (millions), 2021-29f
    • Hong Kong: acquirers' transaction volumes (millions), 2021-25e
    • Hong Kong: acquirers' transaction values (HKD billions), 2021-25e
    • Hong Kong: acquirers' transaction values ($ billions), 2021-25e
    • Hong Kong: retail outlets and card-accepting merchants (000s), 2021-29f
    • Hong Kong: debit card average interchange fees (%), 2021-25e
    • Hong Kong: credit and charge card average interchange fees (%), 2021-25e
    • Hong Kong: debit card merchant service charge and interchange fee (%), 2021-29f
    • Hong Kong: credit and charge card merchant service charge and interchange fee (%), 2021-29f
    • Hong Kong: retail market by product categories (HKD billions), 2020-29f
    • Hong Kong: retail market by product categories ($ billions), 2021-29f
    • Hong Kong: retail market by service categories (HKD billions), 2019-23
    • Hong Kong: retail market by service categories ($ billions), 2019-23
    • Survey sample across countries

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