Statistics of Payment Cards Issued in Hong Kong for Second Quarter 2024
The Hong Kong Monetary Authority (HKMA) published today (20 September)
statistics of payment cards issued in Hong Kong for the second quarter
of 2024.
The payment card statistics (see Annex) include
quarterly data on credit and debit cards issued in Hong Kong under the
credit and/or debit card schemes of the eight payment card scheme
operators (Note 1). The HKMA began to publish the payment card
statistics on a quarterly basis in June 2010 to enhance transparency
of the payment card industry in Hong Kong, in line with international
practice.
According to the quarterly statistics, the total
number of credit cards in circulation (Note 2) was 19. 89 million by
the end of Q2/2024. The figure represents a 0. 5% decrease from the
previous quarter and a 0. 9% increase from the previous year. The
number and value of credit card transactions (including retail sales
and cash advances) (Note 3) are susceptible to seasonal factors and
the general economic environment, making the trends more prone to
fluctuation. The total number of credit card transactions was 322. 06
million for Q2/2024, representing a 6. 5% increase from the previous
quarter and a 26. 7% increase from the same period in 2023. The total
value of credit card transactions was HK$239. 2 billion for Q2/2024,
representing a 5. 4% decrease from the previous quarter and a 10.
0% increase from the same period in 2023. Of the total transaction
value, HK$165. 6 billion (69. 2%) was related to retail spending in
Hong Kong, HK$64. 6 billion (27. 0%) in retail spending overseas and
HK$9. 0 billion (3. 8%) in cash advances.
The total number of
debit cards in circulation is not available due to overlapping of
debit card brands in a single card. Like the number and value of
credit card transactions, the number and value of debit card
transactions in relation to retail sales and bills payments (Note 4)
are also affected by seasonal factors. On a quarterly basis, the total
number of debit card transactions in relation to retail sales and
bills payments increased by 7. 2% to 51. 78 million while the total
value decreased by 11. 3% to HK$66. 8 billion in Q2/2024. When
compared to the same period in 2023, the total number increased by 16.
5% and the total value dropped by 1. 9% in Q2/2024.
Hong Kong
Monetary Authority 20 September 2024
Notes: The payment card
statistics are compiled from data on credit and debit cards issued in
Hong Kong by both authorized institutions (AIs) and non-authorized
institutions (non-AIs) under the credit and/or debit card schemes of
the eight payment card scheme operators (the card operators). The card
operators, in alphabetical order, are American Express International,
Inc. , Discover Financial Services (Hong Kong) Limited, EPS Company
(Hong Kong) Limited (EPSCO), JCB International (Asia) Ltd, Joint
Electronic Teller Services Ltd. (JETCO), MasterCard Asia/Pacific Pte.
Ltd. , UnionPay International Co. Ltd and Visa Worldwide Pte. Limited.
A credit card issued in Hong Kong only carries one credit card brand.
The total number of credit cards in circulation refers to the total
number of credit cards (i. e. cards with a credit function) issued in
Hong Kong under the credit card schemes of card operators (but
excluding EPSCO and JETCO, which do not operate a credit card scheme).
Some of these credit cards carry debit card functions, i. e. the
credit card can be used for making purchases/payments or cash
withdrawal at ATMs through directly debiting cardholders’ bank
accounts. The total number/value of credit card transactions refer to
the total number/value of transactions made via credit card accounts
of credit cards issued in Hong Kong under the credit card schemes of
card operators (excluding EPSCO and JETCO). Starting from March 2015,
a Hong Kong/overseas spending breakdown of credit card retail sales
transactions is provided. The total number/value of debit card
transactions in relation to retail sales/bill payments refers to the
total number/value of those transactions made via debiting
cardholders’ bank accounts. Some of the eight card operators do not
operate a debit card scheme. Care should be exercised in combining the
credit card retail sales figures and the debit card retail sales/bills
payment figures because of the possibility of double counting.