PROSPECTS AND OPPORTUNITIES
Credit cards projected to continue to contract going forward
Credit cards in China is projected to continue to shrink over the forecast period in terms of cards in circulation, transaction volumes, and current value transactions. Commercial credit cards is set to present a slightly more stable outlook compared with personal credit cards.
Digital wallet credit cards set to gain traction
One of the pain points for credit card holders in China is that digital wallet transactions often received either partial or no credit card points. This is because retail banks receive less revenue from digital transactions than POS transactions.
China will embrace more inbound travel card payments
China is set to receive more inbound travel card payments going forward, benefiting from the latest visa-waiver programme and the improving payments infrastructure. According to Euromonitor’s travel forecast, spending by inbound arrivals is projected to grow by a CAGR of 11% in current terms over 2024-2029, reaching an estimated CNY1,222 billion in 2029.
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Overview:
Understand the latest market trends and future growth opportunities for the Credit Card Transactions industry in China with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Credit Card Transactions industry in China, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Credit Card Transactions in China report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Credit Card Transactions in China?
- What are the major trends key to understanding Credit Card Transactions in China?
- How has COVID-19, recession and macroeconomic volatility impacted the market?
- How long will the market take to recover? What are the opportunities now?
- How will political context and shifting cultural values shape future growth?
- Where is future growth expected to be most dynamic?
Credit Cards in China - Category analysis
Credit Cards in China - Company Profile
KEY DATA FINDINGS
Downturn continues for credit cards in China
Mastercard approved to clear domestic payments in China
Digital wallets enable international tourists to pay with overseas credit cards
Credit cards projected to continue to contract going forward
Digital wallet credit cards set to gain traction
China will embrace more inbound travel card payments
Debit Cards in China - Category analysis
Debit Cards in China - Company Profile
KEY DATA FINDINGS
Debit card payment remains dominant in China
Rural Revitalization debit card is gaining traction
Combining card functions to reduce the number of cards carried
Debit cards in China poised for continued growth
Competitive landscape for debit cards set to remain stable
Debit cards set to see limited product development
Pre-Paid Cards in China - Category analysis
Pre-Paid Cards in China - Company Profile
KEY DATA FINDINGS
Pre-paid card sees slight growth, as demand for travel and commuting return
Shanghai introduces pre-paid cards to accommodate inbound travel
Personalisation boosts revenue for players
Demand for pre-paid cards set to contract over the forecast period, especially open loop pre-paid cards
Closed loop pre-paid cards set to perform slightly better
Regulatory environment likely to remain restrictive
Financial Cards and Payments in China - Industry Overview
Financial cards and payments in 2024: The big picture
2024 key trends
Making payments easier for inbound tourists
Competitive landscape
What next for financial cards and payments?
DISCLAIMER
The following categories and subcategories are included:
Credit Card Transactions
- Commercial Credit Card Transactions
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- Average Personal Credit Card Balance
- Average Personal Credit Card Limit
- Personal Credit Card Utilisation
Credit Card Transactions
Credit cards allow for purchases against a preapproved line of credit. The account holder has the choice of whether to pay off the entire balance each month or opt for monthly instalments with the balance serving as revolving credit. If the cardholder decides to revolve a balance, the consumer pays interest. Credit cards can include affinity cards, reward cards and types of co-branded cards. Co-branded retailer cards—issued by retailers acting as financial institutions and without usage restrictions—are included in this category. Cards issued by a retailer with usage limited to a specific store within a predefined retail group fall under the store cards definition. Debit cards with an overdraft function are not counted as cards with a credit function. Payments are tracked based on the country of residence / account issuance and include outbound spend while excluding inbound spend.
See all of our definitionsWhy 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
This report originates from Passport, our Credit Card Transactions research and analysis database.
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