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Debit-led mobile payments drive progress, while credit and prepaid lose relevance
Financial cards and payments in China expanded in 2025, with debit cards driving growth in both cards in circulation and transactions as financial inclusion progressed and digital wallets largely relied on linked debit accounts. Credit cards and pre-paid cards declined further as consumers shifted to real-time app payments and as tighter oversight, including new rules on prepaid consumption disputes, raised compliance pressure. Credit card asset quality improved as banks strengthened monitoring and segmentation, while inbound payments became easier as more visitors linked overseas cards to Alipay and WeChat Pay and POS coverage expanded. Over the forecast period, debit cards should remain ahead, credit cards is expected to return to modest growth, and pre-paid cards is likely to improve only marginally, with China UnionPay retaining near-total issuing scale even as international networks expand gradually.
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Overview:
Understand the latest market trends and future growth opportunities for the Financial Cards and Payments 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 Financial Cards and Payments 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 Financial Cards and Payments 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 Financial Cards and Payments in China?
- What are the major trends key to understanding Financial Cards and Payments 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?
Financial Cards and Payments in China - Industry Overview
Debit-led mobile payments drive progress, while credit and prepaid lose relevance
KEY DATA FINDINGS
Debit cards remain favoured within financial cards and payments
Credit cards and pre-paid cards continue to lose ground
Non-performing loan (NPL) rate of credit cards sees improvement, while international payments are easier for inbound tourists
Debit cards to remain on top
Credit cards will see positive growth in forecast period
Pre-paid cards will record slight improvement
China UnionPay dominates landscape
China Merchant Bank benefits from direct foreign transactions, as newer players continue to rise
Table 1 Number of POS Terminals: Units 2020-2025
Table 2 Number of ATMs: Units 2020-2025
Table 3 Value Lost to Fraud 2020-2025
Table 4 Card Expenditure by Location 2025
Table 5 Financial Cards in Circulation by Type: % Number of Cards 2020-2025
Table 6 Domestic versus Foreign Spend 2025
Table 7 Financial Cards by Category: Number of Cards in Circulation 2020-2025
Table 8 Financial Cards by Category: Number of Accounts 2020-2025
Table 9 Financial Cards Transactions by Category: Value 2020-2025
Table 10 Financial Cards by Category: Number of Transactions 2020-2025
Table 11 Consumer Payments by Category: Value 2020-2025
Table 12 Consumer Payments by Category: Number of Transactions 2020-2025
Table 13 M-Commerce by Category: Value 2020-2025
Table 14 M-Commerce by Category: % Value Growth 2020-2025
Table 15 Financial Cards: Number of Cards by Issuer 2020-2024
Table 16 Financial Cards: Number of Cards by Operator 2020-2024
Table 17 Financial Cards: Card Payment Transactions Value by Operator 2020-2024
Table 18 Financial Cards: Card Payment Transactions Value by Issuer 2020-2024
Table 19 Forecast Financial Cards by Category: Number of Cards in Circulation 2025-2030
Table 20 Forecast Financial Cards by Category: Number of Accounts 2025-2030
Table 21 Forecast Financial Cards Transactions by Category: Value 2025-2030
Table 22 Forecast Financial Cards by Category: Number of Transactions 2025-2030
Table 23 Forecast Consumer Payments by Category: Value 2025-2030
Table 24 Forecast Consumer Payments by Category: Number of Transactions 2025-2030
Table 25 Forecast M-Commerce by Category: Value 2025-2030
Table 26 Forecast M-Commerce by Category: % Value Growth 2025-2030
COUNTRY REPORTS DISCLAIMER
Summary 1 Research Sources
Credit Cards in China - Category analysis
KEY DATA FINDINGS
Digital wallets and point-of-sale credit erode credit card relevance
Cautious consumer sentiment undermines progress for credit cards in China
Chinese consumers unconvinced by value of credit cards
Credit card transactions set to resume growth over the forecast period
Credit card non-performing rate set to alleviate, while inbound travel card payments rise
Competitive landscape remains steady, with Mastercard accelerating product offerings
China Merchant Bank boasts most credit cards in circulation, and tourists benefit from digital wallets
Table 27 Credit Cards: Number of Cards in Circulation 2020-2025
Table 28 Credit Cards Transactions 2020-2025
Table 29 Credit Cards in Circulation: % Growth 2020-2025
Table 30 Credit Cards Transactions: % Growth 2020-2025
Table 31 Commercial Credit Cards: Number of Cards in Circulation 2020-2025
Table 32 Commercial Credit Cards Transactions 2020-2025
Table 33 Commercial Credit Cards in Circulation: % Growth 2020-2025
Table 34 Commercial Credit Cards Transactions: % Growth 2020-2025
Table 35 Personal Credit Cards: Number of Cards in Circulation 2020-2025
Table 36 Personal Credit Cards Transactions 2020-2025
Table 37 Personal Credit Cards in Circulation: % Growth 2020-2025
Table 38 Personal Credit Cards Transactions: % Growth 2020-2025
Table 39 Credit Cards: Number of Cards by Issuer 2020-2024
Table 40 Credit Cards: Number of Cards by Operator 2020-2024
Table 41 Credit Cards Payment Transaction Value by Issuer 2020-2024
Table 42 Credit Cards Payment Transaction Value by Operator 2020-2024
Table 43 Commercial Credit Cards: Number of Cards by Issuer 2020-2024
Table 44 Commercial Credit Cards: Number of Cards by Operator 2020-2024
Table 45 Commercial Credit Cards Payment Transaction Value by Issuer 2020-2024
Table 46 Commercial Credit Cards Payment Transaction Value by Operator 2020-2024
Table 47 Personal Credit Cards: Number of Cards by Issuer 2020-2024
Table 48 Personal Credit Cards: Number of Cards by Operator 2020-2024
Table 49 Personal Credit Cards Payment Transaction Value by Issuer 2020-2024
Table 50 Personal Credit Cards Payment Transaction Value by Operator 2020-2024
Table 51 Forecast Credit Cards: Number of Cards in Circulation 2025-2030
Table 52 Forecast Credit Cards Transactions 2025-2030
Table 53 Forecast Credit Cards in Circulation: % Growth 2025-2030
Table 54 Forecast Credit Cards Transactions: % Growth 2025-2030
Table 55 Forecast Commercial Credit Cards: Number of Cards in Circulation 2025-2030
Table 56 Forecast Commercial Credit Cards Transactions 2025-2030
Table 57 Forecast Commercial Credit Cards in Circulation: % Growth 2025-2030
Table 58 Forecast Commercial Credit Cards Transactions: % Growth 2025-2030
Table 59 Forecast Personal Credit Cards: Number of Cards in Circulation 2025-2030
Table 60 Forecast Personal Credit Cards Transactions 2025-2030
Table 61 Forecast Personal Credit Cards in Circulation: % Growth 2025-2030
Table 62 Forecast Personal Credit Cards Transactions: % Growth 2025-2030
Debit Cards in China - Category analysis
KEY DATA FINDINGS
Debit cards extend reach as everyday payments stay wallet-led
Debit cards sees further growth as rural access expands
Debit card transactions lead in China, with consumers combining card functions
Debit cards likely to remain preferred option within consumer payments
Multi-currency debit card set to gain traction
Competitive environment remains stable despite entry of American Express and Mastercard
Potential for rural-bank expansion
Table 63 Debit Cards: Number of Cards in Circulation 2020-2025
Table 64 Debit Cards Transactions 2020-2025
Table 65 Debit Cards in Circulation: % Growth 2020-2025
Table 66 Debit Cards Transactions: % Growth 2020-2025
Table 67 Debit Cards: Number of Cards by Issuer 2020-2024
Table 68 Debit Cards: Number of Cards by Operator 2020-2024
Table 69 Debit Cards Payment Transaction Value by Issuer 2020-2024
Table 70 Debit Cards Payment Transaction Value by Operator 2020-2024
Table 71 Forecast Debit Cards: Number of Cards in Circulation 2025-2030
Table 72 Forecast Debit Cards Transactions 2025-2030
Table 73 Forecast Debit Cards in Circulation: % Growth 2025-2030
Table 74 Forecast Debit Cards Transactions: % Growth 2025-2030
Pre-Paid Cards in China - Category analysis
KEY DATA FINDINGS
Digital wallets and tighter oversight subvert growth for pre-paid cards
Pre-paid card market faces contraction in 2025
Pre-paid cards see limited use in China, despite increased personalisation
Pre-paid card transaction volumes to see marginal increase going forward
Regulatory environment likely to remain restrictive
Competitive landscape remains largely unchanged
Transport players as biggest operators in pre-paid cards
Table 75 Pre-paid Cards: Number of Cards in Circulation 2020-2025
Table 76 Pre-paid Cards Transactions 2020-2025
Table 77 Pre-paid Cards in Circulation: % Growth 2020-2025
Table 78 Pre-paid Cards Transactions: % Growth 2020-2025
Table 79 Closed Loop Pre-paid Cards Transactions 2020-2025
Table 80 Closed Loop Pre-paid Cards Transactions: % Growth 2020-2025
Table 81 Open Loop Pre-paid Cards Transactions 2020-2025
Table 82 Open Loop Pre-paid Cards Transactions: % Growth 2020-2025
Table 83 Pre-paid Cards: Number of Cards by Issuer 2020-2024
Table 84 Pre-paid Cards: Number of Cards by Operator 2020-2024
Table 85 Pre-paid Cards Transaction Value by Issuer 2020-2024
Table 86 Pre-paid Cards Transaction Value by Operator 2020-2024
Table 87 Closed Loop Pre-paid Cards: Number of Cards by Issuer 2020-2024
Table 88 Closed Loop Pre-paid Cards: Number of Cards by Operator 2020-2024
Table 89 Closed Loop Pre-paid Cards Transaction Value by Issuer 2020-2024
Table 90 Closed Loop Pre-paid Cards Transaction Value by Operator 2020-2024
Table 91 Open Loop Pre-paid Cards: Number of Cards by Issuer 2020-2024
Table 92 Open Loop Pre-paid Cards: Number of Cards by Operator 2020-2024
Table 93 Open Loop Pre-paid Cards Transaction Value by Issuer 2020-2024
Table 94 Open Loop Pre-paid Cards Transaction Value by Operator 2020-2024
Table 95 Forecast Pre-paid Cards: Number of Cards in Circulation 2025-2030
Table 96 Forecast Pre-paid Cards Transactions 2025-2030
Table 97 Forecast Pre-paid Cards in Circulation: % Growth 2025-2030
Table 98 Forecast Pre-paid Cards Transactions: % Growth 2025-2030
Table 99 Forecast Closed Loop Pre-paid Cards Transactions 2025-2030
Table 100 Forecast Closed Loop Pre-paid Cards Transactions: % Growth 2025-2030
Table 101 Forecast Open Loop Pre-paid Cards Transactions 2025-2030
Table 102 Forecast Open Loop Pre-paid Cards Transactions: % Growth 2025-2030
COUNTRY REPORTS DISCLAIMER
The following categories and subcategories are included:
Financial Cards and Payments
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- ATM Cards
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- Commercial Charge Cards
- Personal Charge Cards
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- Commercial Credit Cards
- Personal Credit Cards
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- Commercial Debit Cards
- Personal Debit Cards
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- Closed Loop Pre-Paid Cards
- Open Loop Pre-Paid Cards
- Store Cards
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- ATM Transactions
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- Commercial Charge Card Transactions
- Personal Charge Card Transactions
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- Commercial Credit Card Transactions
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- Average Personal Credit Card Balance
- Average Personal Credit Card Limit
- Personal Credit Card Utilisation
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- Commercial Debit Card Transactions
- Personal Debit Card Transactions
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- Closed Loop Pre-Paid Card Transactions
- Open Loop Pre-Paid Card Transactions
- Store Card Transactions
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- Commercial Card Payment Transactions
- Commercial Electronic Direct/ACH Transactions
- Commercial Paper Payment Transactions
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- Personal Card Payment Transactions
- Personal Electronic Direct/ACH Transactions
- Personal Paper Payment Transactions
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- Commercial Electronic Direct/ACH Transactions
- Personal Electronic Direct/ACH Transactions
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- Commercial Cash Transactions
- Commercial Other Paper Transactions
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- Personal Cash Transactions
- Personal Other Paper Transactions
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- Mobile Proximity Payments
- Mobile Remote Payments
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Financial Cards and Payments
Payments are tracked based on the country of residence / account issuance and include outbound spend while excluding inbound spend.
See all of our definitions
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This report originates from Passport, our Financial Cards and Payments research and analysis database.
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