Statistics of Payment Cards Issued in Hong Kong for Third Quarter 2024
The Hong Kong Monetary Authority (HKMA) published today statistics of
payment cards issued in Hong Kong for the third 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 20. 30 million by the end of
Q3/2024. The figure represents a 2. 0% increase from the previous
quarter and a 3. 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 329. 10 million for
Q3/2024, representing a 2. 2% increase from the previous quarter and a
19. 6% increase from the same period in 2023. The total value of
credit card transactions was HK$248. 8 billion for Q3/2024,
representing a 4. 0% increase from the previous quarter and a 9.
8% increase from the same period in 2023. Of the total transaction
value, HK$164. 0 billion (65. 9%) was related to retail spending in
Hong Kong, HK$75. 9 billion (30. 5%) in retail spending overseas and
HK$9. 0 billion (3. 6%) 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 4. 3% to 54. 02 million while the total
value increased by 2. 5% to HK$68. 4 billion in Q3/2024. When compared
to the same period in 2023, the total number increased by 18. 2% and
the total value rose by 0. 3% in Q3/2024.
Hong Kong Monetary
Authority 20 December 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.