PROSPECTS AND OPPORTUNITIES
Debit cards in China poised for continued growth
Debit cards is positioned for continued growth over the forecast period in China, driven by rising disposable incomes and the evolving consumer preference for cashless payment. Although the number of debit cards in circulation is only set to grow marginally, at a CAGR of 1% over the forecast period, volume and current value debit card transactions are projected to see stronger growth, with CAGRs of 6%, supported by the increasing adoption of debit cards amongst Chinese consumers, especially those in rural areas.
Competitive landscape for debit cards set to remain stable
The competitive landscape for debit cards in China is currently fairly stable, although there is potential for rural branks to take further share over the forecast period, given rural players have better access to remote communities and financially underserved populations. Moreover, rural areas present greater potential for debit card spending compared with urban areas.
Debit cards set to see limited product development
Despite the expectation of growth for debit cards in the forecast period, there are stringent government restrictions on debit cards, and saturation in this category, especially in high-tier cities. Therefore, Chinese banks have not been focusing on debit cards in terms of marketing and product innovation, and this trend is expected to be maintained moving forward, as other products are seen to offer more potential profits, such as credit cards and consumer lending.
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Overview:
Understand the latest market trends and future growth opportunities for the Debit 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 Debit 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 Debit 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 Debit Card Transactions in China?
- What are the major trends key to understanding Debit 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:
Debit Card Transactions
- Commercial Debit Card Transactions
- Personal Debit Card Transactions
Debit Card Transactions
Debit cards merge the functionality of both an ATM card and direct payment from a bank account (a check substitute in some markets). A debit card allows the cardholder to receive cash and monitor account activity at an ATM machine, as well as pay for goods and services via a point-of-sale terminal. A debit card payment transaction involves the automatic withdrawal of funds from the cardholder’s demand deposit bank account (checking or giro). Since the funds are removed from a bank account, no interest is charged on payments. 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
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This report originates from Passport, our Debit Card Transactions research and analysis database.
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