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Hong Kong (China SAR) Cards and Payments - Opportunities and Risks to 2026

Publisher GlobalData
Published Apr 05, 2023
Length 97 Pages
SKU # GBDT17891274

Description

Hong Kong (China SAR) Cards and Payments - Opportunities and Risks to 2026

Summary

GlobalData’s ‘Hong Kong (China SAR) Cards and Payments: Opportunities and Risks to 2026' 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, cards, direct debits, credit transfers and cheques during the review-period (2018–22e).

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 (2022e–26f). It also offers information on the country's competitive landscape, including market shares of issuers and schemes.TThe 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.

This report provides top-level market analysis, information and insights into Hong Kong cards and payments industry, including -
  • Current and forecast values for each market in Hong Kong cards and payments industry, including debit, credit, and charge cards
  • Detailed insights into payment instruments including cash, cards, mobile wallets, credit transfers, 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 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 Hong Kong cards and payments industry.
Scope
  • Faster Payment System (FPS) is an instant payment service launched by the Hong Kong Monetary Authority (HKMA) in September 2018. It was developed and is operated by Hong Kong Interbank Clearing Limited. The service operates 24 hours a day, seven days a week, 365 days a year. It connects banks and payment services providers and enables instant fund transfers and payments between users of banks and digital wallets. Users can make payments via online and mobile banking as well as through the mobile payment apps of participants. As of February 2023, 37 banks and 10 payment services providers supported FPS.
  • The government and regulatory authorities have taken steps to boost the use of cashless payment methods. In September 2018, HKMA launched Common QR Code standards to promote the use of a standard QR code for retail payments, thereby eliminating the need for merchants to display multiple QR codes at the POS. The Hong Kong QR mobile app can be used by consumers to make payments at all retailers accepting the Common QR Code. As of February 2023, 13 payment services providers had signed up to the initiative.
  • Digital-only banks are driving competition in the banking space, thus helping to boost debit card holding. As of 2021, HKMA had granted licenses to eight virtual banks. As of December 2021, these banks had a combined 1.2 million individual and SME customers. Hong Kong-based digital-only bank ZA Bank enables its customers to open an account within five minutes. These accounts include a Visa debit card.
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

97 Pages
  • Executive Summary
    • Hong Kong: key facts, 2022e
    • Regional benchmarking of payment cards, 2022e
    • Payment Instruments: 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 Charge 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
  • Mobile 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 (HKDB), 2018–26f
    • Hong Kong: payment instrument transaction values ($B), 2018–26f
    • Hong Kong: payment instrument transaction volumes (millions), 2018–26f
    • Hong Kong: payment cards in circulation by type (millions), 2018–26f
    • Hong Kong: volume of payment card transactions (millions), 2018–26f
    • Hong Kong: value of payment card transactions (HKDB), 2018–26f
    • Hong Kong: value of payment card transactions ($B), 2018–26f
    • Hong Kong: debit cards in circulation (millions), 2018–26f
    • Hong Kong: debit card transaction volumes, 2018–26f
    • Hong Kong: debit card transaction values (HKD), 2018–26f
    • Hong Kong: debit card transaction values ($), 2018–26f
    • Hong Kong: debit cards in circulation by scheme (000s), 2018–22e
    • Hong Kong: debit card transaction values by scheme (HKDB), 2018–22e
    • Hong Kong: debit card transaction values by scheme ($B), 2018–22e
    • Hong Kong: debit cards in circulation by issuer (000s), 2018–22e
    • Hong Kong: debit cards transaction value by issuer (HKDB), 2018–22e
    • Hong Kong: debit cards transaction value by issuer ($B), 2018–22e
    • Hong Kong: credit and charge cards in circulation (millions), 2018–26f
    • Hong Kong: credit and charge card transaction volumes, 2018–26f
    • Hong Kong: credit and charge card transaction values (HKD), 2018–26f
    • Hong Kong: credit and charge card transaction values ($), 2018–26f
    • Hong Kong: credit and charge cards in circulation by scheme (millions), 2018–22e
    • Hong Kong: credit and charge card transaction values by scheme (HKDB), 2018–22e
    • Hong Kong: credit and charge card transaction values by scheme ($B), 2018–22e
    • Hong Kong: credit and charge cards in circulation by issuer (millions), 2018–22e
    • Hong Kong: credit and charge cards transaction value by issuer (HKDB), 2018–22e
    • Hong Kong: credit and charge cards transaction value by issuer ($B), 2018–22e
    • Hong Kong: credit cards in circulation (millions), 2018–26f
    • Hong Kong: credit card transaction volumes, 2018–26f
    • Hong Kong: credit card transaction values (HKD), 2018–26f
    • Hong Kong: credit card transaction values ($), 2018–26f
    • Hong Kong: credit cards in circulation by scheme (millions), 2018–22e
    • Hong Kong: credit card transaction values by scheme (HKDB), 2018–22e
    • Hong Kong: credit card transaction values by scheme ($B), 2018–22e
    • Hong Kong: charge cards in circulation (000s), 2018–26f
    • Hong Kong: charge card transaction volumes, 2018–26f
    • Hong Kong: charge card transaction values (HKD), 2018–26f
    • Hong Kong: charge card transaction values ($), 2018–26f
    • Hong Kong: charge cards in circulation by scheme (000s), 2018–22e
    • Hong Kong: charge card transaction values by scheme (HKDB), 2018–22e
    • Hong Kong: charge card transaction values by scheme ($B), 2018–22e
    • Hong Kong: prepaid cards in circulation (millions), 2018–26f
    • Hong Kong: prepaid card transaction values (HKDB), 2018–26f
    • Hong Kong: prepaid card transaction values ($B), 2018–26f
    • Hong Kong: merchant acquiring transaction volumes (millions), 2018–26f
    • Hong Kong: merchant acquiring transaction values (HKDB), 2018–26f
    • Hong Kong: merchant acquiring transaction values ($B), 2018–26f
    • Hong Kong: acquirers’ transaction volumes (millions), 2018–22e
    • Hong Kong: acquirers’ transaction values (HKDB), 2018–22e
    • Hong Kong: acquirers’ transaction values ($B), 2018–22e
    • Hong Kong: retail outlets and card-accepting merchants (000s), 2018–26f
    • Hong Kong: debit card average interchange fees (%), 2018–22e
    • Hong Kong: credit and charge card average interchange fees (%), 2018–22e
    • Hong Kong: debit card merchant service charge and interchange fee (%), 2018–26f
    • Hong Kong: credit and charge card merchant service charge and interchange fee (%), 2018–26f
    • Hong Kong: retail market by product categories (HKDB), 2018–26f
    • Hong Kong: retail market by product categories ($B), 2018–26f
    • Hong Kong: retail market by service categories (HKDB), 2017–20
    • Hong Kong: retail market by service categories ($B), 2017–20
    • Survey sample size across countries

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