Market Research Logo

The Cards and Payments Industry in Hong Kong: Emerging Trends and Opportunities to 2020

The Cards and Payments Industry in Hong Kong: Emerging Trends and Opportunities to 2020

Synopsis

Timetric’s 'The Cards and Payments Industry in Hong Kong: Emerging Trends and Opportunities to 2020' 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, check payments, payment cards, direct debits and credit transfers during the review period (2011–2015).

The report also analyzes various payment card markets operating in the industry, and provides detailed information on the number of cards in circulation, and transaction values and volumes during the review period and over the forecast period (2016–2020). It also offers information on the country's competitive landscape, including the market shares of issuers and schemes.

The report brings together Timetric’s research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers details of regulatory policy and recent changes in the regulatory structure.

Summary

Timetric’s 'The Cards and Payments Industry in Hong Kong: Emerging Trends and Opportunities to 2020' 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 and pay later cards.
  • Detailed insights into payment instruments including cash, credit transfers, direct debits, checks and payment cards. It also includes an overview of the country's key alternative payment instruments.
  • E-commerce market analysis and payment types.
  • 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 and pay later cards.
  • Comprehensive analysis of consumer attitudes and buying preferences for cards.
  • The competitive landscape in the Hong Kong cards and payments industry.
Scope
  • This report provides a comprehensive analysis of the Hong Kong cards and payments industry.
  • It provides current values for the Hong Kong cards and payments industry for 2015, and forecast figures to 2020.
  • It details the different demographic, economic, infrastructural and business drivers affecting the Hong Kong cards and payments industry.
  • It outlines the current regulatory framework in the industry.
  • It details marketing strategies used by various banks and other institutions.
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.
Key Highlights
  • Banks are offering multiple currency payments cards to capitalize on the increasing cross-border trade between Hong Kong and mainland China, and the fast-growing Chinese population working and studying in Hong Kong. For instance, the Industrial and Commercial Bank of China (ICBC) launched the ICBC UnionPay Dual Currency Platinum Card in July 2015 in collaboration with UnionPay. The card comes with Union Pay's Quick Pass service, enabling cardholders to make payments by tapping the card at 5 million Quick Pass terminals worldwide. While Hong Kong-based and overseas expenses are settled in the local currency, expenses in mainland China are settled in yuan. Similarly, Banco Nacional Ultramarino partnered with UnionPay to introduce a triple currency credit card in August 2015, which can be used in Hong Kong, mainland China and Macau.
  • Alternative payments are gaining traction among Hong Kong consumers, with the availability of instruments such as Octopus, YuuPay, PayPal, Alipay and Tenpay. Introduced in July 2016, Apple Pay can be used by holders of Visa, MasterCard and American Express cards issued by HSBC, Bank of China, Hang Seng, DBS Bank and Standard Chartered. It allows users to make purchases at participating stores with Apple devices including the iPhone 6, iPhone 6 Plus, iPhone 6s, iPhone 6s Plus, Apple Watch, iPad mini 4, iPad Air 2 and both iPad Pro models. Apple Pay payments are accepted by around 10,000 merchants in Hong Kong, and more than 10 million in nine countries worldwide.
  • Leading scheme providers such as Visa and MasterCard have also introduced payment solutions in Hong Kong. MasterCard launched the Master Pass digital wallet in July 2015, enabling customers to make online payments with a registered payment card using a mobile phone, without disclosing card details with every purchase. Consumers can set up a Master Pass account by visiting MasterCard’s website, and signing up with a participating bank such as Bank of East Asia, China Construction Bank, Dah Sing Bank and DBS Bank. Visa launched the Visa Checkout online payment service in December 2015, allowing users to pay for online purchases by smartphone.


  • Definitions and Methodology
    • Definitions
      • Table Key Definitions
    • Methodology
      • Table Annual Average Exchange Rate
  • Key Facts and Events
    • Table Hong Kong - Key Facts, 2015
    • Table Regional Benchmarking of Hong Kong Payment Cards, 2015
  • Executive Summary
  • Payment Instruments
    • Current Payment Environment
  • E-Commerce and Alternative Payments
    • E-Commerce Market and Payment Methods
    • Alternative Payment Solutions
      • Octopus
      • PayPal
      • Apple Pay
      • MasterPass
      • Visa Checkout
      • Alipay
      • Tenpay
  • Regulations in the Cards and Payments Industry
    • Regulatory Framework
      • Measures to bring more transparency with regard to charges on credit cards
    • Anti-Money Laundering (AML)
    • Foreign Direct Investment (FDI) Regulations
      • Table Hong Kong - Number of Banks, June 2016
      • Table Hong Kong - Mode of Entry of Foreign Banks
  • Analysis of Cards and Payments Industry Drivers
    • Demographic and Economic Drivers
    • Infrastructure and Business Drivers
  • Market Segmentation and New Product Launches
    • Market Segmentation and Targeting
      • Consumer cards
        • Table Cards for High-Income Consumers, 2016
        • Table Cards for Travelers, 2016
        • Table Cards for Shoppers, 2016
      • Commercial cards
        • Table Commercial Cards Comparison and Key Features, 2016
    • New Product Launches
      • Table Hong Kong - New Product Launches
  • Payment Cards
    • Payment Cards Market Analysis
      • Volume and value of payment card transactions by type
  • Debit Cards
    • Debit Card Market Analysis
      • Turnover per debit card and transaction values by channel
      • Debit card scheme and issuer shares in terms of transaction value
      • Debit cards comparison
        • Table Hong Kong - Debit Cards Comparison and Key Features, 2016
  • Pay Later Cards
    • Pay Later Cards Market Analysis
      • Turnover per pay later card and transaction values by channel
      • Pay later cards scheme and issuer shares in terms of transaction value
      • Pay later cards comparison
        • Table Hong Kong - Gold Credit Cards Comparison and Key Features, 2016
        • Table Hong Kong - Premium Credit Cards Comparison and Key Features, 2016
  • Commercial Pay Later Cards
    • Commercial Pay Later Cards Market Analysis
      • Commercial pay later cards comparison
        • Table Hong Kong - Commercial Credit Cards Comparison and Key Features, 2016
  • Prepaid Cards
    • Prepaid Card Market Analysis
      • Prepaid cards comparison
        • Table Hong Kong - Prepaid Cards Comparison and Key Features, 2016
  • Appendix
    • Tables
      • Table Hong Kong - Payment Instrument Transaction Values (HKD Trillion), 2011-2015
      • Table Hong Kong - Payment Instrument Transaction Values (US$ Billion), 2011-2015
      • Table Hong Kong - Payment Instrument Transaction Volumes (Million), 2011-2015
      • Table Hong Kong - Number of Payment Cards in Circulation by Type (Million), 2011-2020
      • Table Hong Kong - Volume of Payment Card Transactions by Type (Million), 2011-2020
      • Table Hong Kong - Value of Payment Card Transactions by Type (HKD Billion), 2011-2020
      • Table Hong Kong - Value of Payment Card Transactions by Type (US$ Billion), 2011-2020
      • Table Hong Kong - Number of Debit Cards in Circulation (Million), 2011-2020
      • Table Hong Kong - Debit Card Transaction Volumes and Frequency by Channel, 2011-2020
      • Table Hong Kong - Debit Card Total and Average Transaction Values by Channel, 2011-2020
      • Table Hong Kong - Number of Debit Cards in Circulation By Scheme (Million), 2011-2015
      • Table Hong Kong - Debit Card Transaction Values By Scheme (HKD Billion), 2011-2015
      • Table Hong Kong - Debit Card Transaction Values By Scheme (US$ Billion), 2011-2015
      • Table Hong Kong - Debit Card Transaction Values by Issuer (HKD Billion), 2011-2015
      • Table Hong Kong - Debit Card Transaction Values by Issuer (US$ Billion), 2011-2015
      • Table Hong Kong - Number of Pay Later Cards in Circulation (Million), 2011-2020
      • Table Hong Kong - Pay Later Cards Transaction Volumes and Frequency by Channel, 2011-2020
      • Table Hong Kong - Pay Later Cards Total and Average Transaction Values by Channel, 2011-2020
      • Table Hong Kong - Number of Pay Later Cards in Circulation By Scheme (Thousand), 2011-2015
      • Table Hong Kong - Pay Later Cards Transaction Values By Scheme (HKD Billion), 2011-2015
      • Table Hong Kong - Pay Later Cards Transaction Values By Scheme (US$ Billion), 2011-2015
      • Table Hong Kong - Pay Later Cards Transaction Values By Issuer (HKD Billion), 2011-2015
      • Table Hong Kong - Pay Later Cards Transaction Values By Issuer (US$ Billion), 2011-2015
      • Table Hong Kong - Number of Credit Cards in Circulation (Million), 2011-2020
      • Table Hong Kong - Credit Card Transaction Volumes and Frequency by Channel, 2011-2020
      • Table Hong Kong - Credit Card Total and Average Transaction Values by Channel, 2011-2020
      • Table Hong Kong - Number of Credit Cards in Circulation By Scheme (Thousand), 2011-2015
      • Table Hong Kong - Credit Card Transaction Values By Scheme (HKD Billion), 2011-2015
      • Table Hong Kong - Credit Card Transaction Values By Scheme (US$ Billion), 2011-2015
      • Table Hong Kong - Number of Charge Cards in Circulation (Thousand), 2011-2020
      • Table Hong Kong - Charge Card Transaction Volumes and Frequency by Channel, 2011-2020
      • Table Hong Kong - Charge Card Total and Average Transaction Values by Channel, 2011-2020
      • Table Hong Kong - Number of Charge Cards in Circulation By Scheme (Thousand), 2011-2015
      • Table Hong Kong - Charge Card Transaction Values By Scheme (HKD Billion), 2011-2015
      • Table Hong Kong - Charge Card Transaction Values By Scheme (US$ Million), 2011-2015
      • Table Hong Kong - Personal and Commercial Pay Later Cards Transaction Volumes (Million), 2011-2020
      • Table Hong Kong - Personal and Commercial Pay Later Cards Transaction Values (HKD Billion), 2011-2020
      • Table Hong Kong - Personal and Commercial Pay Later Cards Transaction Values (US$ Billion), 2011-2020
      • Table Hong Kong - Number of Commercial Pay Later Cards in Circulation (Thousand), 2011-2020
      • Table Hong Kong - Commercial Pay Later Cards Transaction Volumes (Million), 2011-2020
      • Table Hong Kong - Commercial Pay Later Cards Transaction Values (HKD Billion), 2011-2020
      • Table Hong Kong - Commercial Pay Later Cards Transaction Values (US$ Billion), 2011-2020
      • Table Hong Kong - Number of Prepaid Cards in Circulation (Million), 2011-2020
      • Table Hong Kong - Prepaid Card Transaction Values (HKD Billion), 2011-2020
      • Table Hong Kong - Prepaid Card Transaction Values (US$ Billion), 2011-2020
    • Contact Timetric
    • About Timetric
    • Timetric's Services
    • Disclaimer

Download our eBook: How to Succeed Using Market Research

Learn how to effectively navigate the market research process to help guide your organization on the journey to success.

Download eBook

Share this report