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The Cards and Payments Industry in Hong Kong: Emerging Trends and Opportunities to 2019

Published By :

Timetric

Published Date : Mar 2016

Category :

Banking

No. of Pages : 60 Pages

Synopsis

Timetric's 'The Cards and Payments Industry in Hong Kong: Emerging Trends and Opportunities to 2019' report provides detailed analysis of market trends in Hong Kong cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including check payments, credit transfers, direct debits, payment cards and cash transactions during the review period (2010-2014).

The report also analyzes various payment cards market operating in the industry and provides detailed information on the number of cards in circulation, and transaction values and volumes during the review period and over the forecast period (2015-2019). It also offers information on the country's competitive landscape, including market shares of issuers and schemes.

The report brings together Timetric's research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers detailed regulatory policies, recent changes in regulatory structure and profiles of card issuers operating in the country.

Summary

Timetric's 'The Cards and Payments Industry in Hong Kong: Emerging Trends and Opportunities to 2019' report provides top-level market analysis, information and insights into Hong Kong cards and payments industry, including:

  • Current and forecast values for each market in Hong Kong cards and payments industry, including debit card, credit and charge cards. It also includes detailed analysis of the prepaid card market.
  • Detailed insights into payment instruments including credit transfers, cash transactions, checks, direct debits and payment cards. It also, includes an overview of the country's key alternative payment instruments.
  • E-commerce market analysis.
  • Analysis of various market drivers and regulations governing Hong Kong cards and payments industry.
  • Detailed analysis of strategies adopted by banks and other institutions to market debit, credit and charge cards.
  • Comprehensive analysis of consumer attitudes and buying preferences for cards.
  • The competitive landscape of Hong Kong cards and payments industry.

Scope

  • This report provides a comprehensive analysis of Hong Kong cards and payments industry.
  • It provides current values for Hong Kong cards and payments industry for 2014, and forecast figures to 2019.
  • It details the different demographic, economic, infrastructural and business drivers affecting Hong Kong cards and payments industry.
  • It outlines the current regulatory framework in the industry.
  • It details marketing strategies used by various banks and other institutions.

Reasons To Buy

  • Make strategic business decisions, using top-level historic and forecast market data, related to Hong Kong cards and payments industry and each market within it.
  • Understand the key market trends and growth opportunities in Hong Kong cards and payments industry.
  • Assess the competitive dynamics in Hong Kong cards and payments industry.
  • Gain insights into marketing strategies used for various card types in Hong Kong.
  • Gain insights into key regulations governing Hong Kong cards and payments industry.

Key Highlights

  • To capitalize on the increasing cross-border trade between Hong Kong and mainland China, and cater to the fast-growing Chinese population working and studying in Hong Kong, banks are issuing multiple-currency payment cards. For instance, Industrial and Commercial Bank of China (ICBC), in collaboration with UnionPay, launched the ICBC UnionPay Dual Currency Platinum Card in July 2015. This card comes with UnionPay's QuickPass service, which enables cardholders to make payments by tapping the card across 5 million QuickPass terminals worldwide. While Hong Kong-based and overseas expenses are settled in the local currency, expenses made in mainland China are settled in the Chinese currency. Similarly, Banco Nacional Ultramarino partnered with UnionPay to introduce a triple currency credit card in August 2015, which can be used in Hong Kong, mainland China and Macau.
  • The uptake of alternative payments among Hong Kong consumers is gaining traction with the emergence of number of alternative payment instruments, such as MasterPass - a digital wallet introduced by MasterCard in July 2015. MasterPass enables customers to make online payments with an enrolled payment card using a mobile phone, and customers are not required to disclose card details with every purchase. Consumers can set up a MasterPass account by visiting MasterCard's website, and signing up with a participating bank such as Bank of East Asia, China Construction Bank, Dah Sing Bank and DBS Bank.
  • To offer a more convenient and faster checkout, Visa launched its online payment service, Visa Checkout, in December 2015. This service allows users to pay for online purchases via their smartphones. Visa Checkout stores the user's personal information and uses a username and password for authentication, in order to streamline the ordering process. The service enables consumers to make purchases by using a smartphone, tablet, laptop or PC, and consumers are not required to leave the merchant's website to complete a transaction. PayPal had previously launched One Touch, a similar instant checkout service, in November 2015. One Touch can be activated from the PayPal website, and can be used to skip the login process at eligible websites to accelerate the payment process.

Table of Contents

1 Definitions and Methodology
1.1 Definitions
1.2 Methodology

2 Key Facts and Events

3 Executive Summary

4 Payment Instruments
4.1 Current Payment Environment

5 E-Commerce
5.1 E-Commerce Market Analysis

6 Alternative Payments
6.1 Alternative Payment Instruments
6.1.1 Octopus
6.1.2 YuuPay
6.1.3 PayPal
6.1.5 MasterPass

7 Regulations in the Cards and Payments Industry
7.1 Regulatory Framework
7.1.1 Measures to bring more transparency with regard to charges on credit cards
7.2 Anti-Money Laundering (AML)
7.3 Foreign Direct Investment (FDI) Regulations

8 Analysis of Cards and Payments Industry Drivers
8.1 Demographic Drivers
8.2 Economic Drivers
8.3 Infrastructure Drivers
8.4 Business Drivers

9 Market Segmentation and New Product Launches
9.1 Market Segmentation and Targeting
9.1.1 Consumer cards
9.1.2 Commercial cards
9.2 New Product Launches

10 Payment Cards
10.1 Payment Card Market Analysis
10.1.1 Volume and value of payment card transactions by type
10.1.2 Personal vs commercial cards

11 Debit Cards
11.1 Debit Card Market Analysis
11.1.1 Debit card transaction volumes and values by channel
11.1.2 Debit card scheme and issuer shares in terms of transaction values
11.1.3 Debit cards comparison

12 Credit Cards
12.1 Credit Card Market Analysis
12.1.1 Credit card transaction volumes and values by channel
12.1.2 Credit card scheme and issuer shares in terms of transaction values
12.1.3 Credit cards comparison

13 Charge Cards
13.1 Charge Card Market Analysis
13.1.1 Charge card transaction volumes and values by channel
13.1.2 Charge card scheme shares in terms of transaction values

14 Commercial Cards
14.1 Commercial Card Market Analysis
14.1.1 Commercial cards comparison

15 Prepaid Cards
15.1 Prepaid Card Market Analysis
15.1.1 Prepaid cards comparison

16 Appendix
16.1 Tables
16.2 Contact Timetric
16.3 About Timetric
16.4 Timetric's Services
16.5 Disclaimer

List of Table

Table 1: Key Definitions
Table 2: Annual Average Exchange Rate
Table 3: Hong Kong - Key Facts, 2014
Table 4: Regional Benchmarking of Hong Kong Payment Cards, 2014
Table 5: Hong Kong - Number of Banks, April 2014
Table 6: Hong Kong - Mode of Entry of Foreign Banks
Table 7: Cards for High-Income Consumers, 2015
Table 8: Cards for Travelers, 2015
Table 9: Cards for Travelers, 2015
Table 10: Cards for Shoppers, 2015
Table 11: Commercial Cards Comparison and Key Features, 2015
Table 12: Hong Kong - New Product Launches
Table 13: Hong Kong - Debit Card Comparisons and Key Features, 2015
Table 14: Hong Kong - Gold Credit Cards Comparison and Key Features, 2015
Table 15: Hong Kong - Premium Credit Cards Comparison and Key Features, 2015
Table 16: Hong Kong - Commercial Card Comparisons and Key Features, 2015
Table 17: Hong Kong - Prepaid Cards Comparison and Key Features, 2015
Table 18: Hong Kong - Payment Instrument Transaction Values (HKD Billion), 2010-2014
Table 19: Hong Kong - Payment Instrument Transaction Values (US$ Billion), 2010-2014
Table 20: Hong Kong - Payment Instrument Transaction Volumes (Million), 2010-2014
Table 21: Hong Kong - Number of Payment Cards in Circulation by Type (Million), 2010-2019
Table 22: Hong Kong - Volume of Payment Card Transactions by Type (Million), 2010-2019
Table 23: Hong Kong - Value of Payment Card Transactions by Type (HKD Billion), 2010-2019
Table 24: Hong Kong - Value of Payment Card Transactions by Type (US$ Billion), 2010-2019
Table 25: Hong Kong - Personal and Commercial Card Transaction Volumes ( Million), 2010-2019
Table 26: Hong Kong - Personal and Commercial Card Transaction Values (HKD Billion), 2010-2019
Table 27: Hong Kong - Personal and Commercial Card Transaction Values (US$ Billion), 2010-2019
Table 28: Hong Kong - Number of Debit Cards in Circulation (Million), 2010-2019
Table 29: Hong Kong - Debit Card Transaction Volumes and Frequency by Channel, 2010-2019
Table 30: Hong Kong - Debit Card Total and Average Transaction Values by Channel, 2010-2019
Table 31: Hong Kong - Debit Card Total and Average Transaction Values by Channel, 2010-2019
Table 32: Hong Kong - Number of Debit Cards in Circulation by Scheme (Thousand), 2010-2014
Table 33: Hong Kong - Debit Card Transaction Values by Scheme (HKD Billion), 2010-2014
Table 34: Hong Kong - Debit Card Transaction Values by Scheme (US$ Billion), 2010-2014
Table 35: Hong Kong - Debit Card Transaction Values by Issuer (HKD Billion), 2010-2014
Table 36: Hong Kong - Debit Card Transaction Values by Issuer (US$ Billion), 2010-2014
Table 37: Hong Kong - Number of Credit Cards in Circulation (Million), 2010-2019
Table 38: Hong Kong - Credit Card Transaction Volumes and Frequency by Channel, 2010-2019
Table 39: Hong Kong - Credit Card Total and Average Transaction Values by Channel, 2010-2019
Table 40: Hong Kong - Credit Card Total and Average Transaction Values by Channel, 2010-2019
Table 41: Hong Kong - Number of Credit Cards in Circulation by Scheme (Million), 2010-2014
Table 42: Hong Kong - Credit Card Transaction Values by Scheme (HKD Billion), 2010-2014
Table 43: Hong Kong - Credit Card Transaction Values by Scheme (US$ Billion), 2010-2014
Table 44: Hong Kong - Pay Later Card Transaction Values by Issuer (HKD Billion), 2010-2014
Table 45: Hong Kong - Pay Later Card Transaction Values by Issuer (US$ Billion), 2010-2014
Table 46: Hong Kong - Credit Card Balances Outstanding by Issuer (HKD Billion), 2010-2014
Table 47: Hong Kong - Credit Card Balances Outstanding by Issuer (US$ Billion), 2010-2014
Table 48: Hong Kong - Number of Charge Cards in Circulation (Thousand), 2010-2019
Table 49: Hong Kong - Charge Card Transaction Volumes and Frequency by Channel, 2010-2019
Table 50: Hong Kong - Charge Card Total and Average Transaction Values by Channel, 2010-2019
Table 51: Hong Kong - Charge Card Total and Average Transaction Values by Channel, 2010-2019
Table 52: Hong Kong - Number of Charge Cards in Circulation by Scheme (Thousand), 2010-2014
Table 53: Hong Kong - Charge Card Transaction Values by Scheme (HKD Billion), 2010-2014
Table 54: Hong Kong - Charge Card Transaction Values by Scheme (US$ Million), 2010-2014
Table 55: Hong Kong - Number of Commercial Cards in Circulation (Million), 2010-2019
Table 56: Hong Kong - Commercial Card Transaction Values (HKD Billion), 2010-2019
Table 57: Hong Kong - Commercial Card Transaction Values (US$ Billion), 2010-2019
Table 58: Hong Kong - Number of Prepaid Cards in Circulation (Million), 2010-2019
Table 59: Hong Kong - Prepaid Card Transaction Values (HKD Billion), 2010-2019
Table 60: Hong Kong - Prepaid Card Transaction Values (US$ Billion), 2010-2019

List of Chart

Figure 1: Hong Kong - Payment Instrument Shares by Transaction Value (%), 2010 and 2014
Figure 2: Hong Kong - Payment Instrument Shares by Transaction Volume (%), 2010 and 2014
Figure 3: Hong Kong - E-Commerce Value (US$ Billion), 2010-2019
Figure 4: Hong Kong - Total Population and Structure
Figure 5: Hong Kong - Economic Indicators, 2010-2019
Figure 6: Hong Kong - Number of ATMs, POS Terminals and Commercial Bank Branches
Figure 7: Hong Kong - Retail Sales and Real Household Consumption, 2010-2014
Figure 8: Hong Kong - Cards and Payments Industry Segmentation by Card Type, 2015
Figure 9: Hong Kong - Growth in Payment Card Transaction Values and Number of Cards in Circulation by Type, 2010-2019
Figure 10: Hong Kong - Volume and Value of Payment Card Transactions by Type (%), 2010-2019
Figure 11: Hong Kong - Personal and Commercial Card, Transaction Volumes and Values (%), 2010-2019
Figure 12: Hong Kong - Growth in Debit Card Transaction Values and Number of Debit Cards in Circulation, 2010-2019
Figure 13: Hong Kong - Debit Card Transaction Volumes and Values by Channel, 2010-2019
Figure 14: Hong Kong - Debit Card Scheme and Issuer Shares in Terms of Transaction Values (%), 2014
Figure 15: Hong Kong - Growth in Credit Card Transaction Values and Number of Credit Cards in Circulation, 2010-2019
Figure 16: Hong Kong - Credit Card Transaction Volumes and Values by Channel, 2010-2019
Figure 17: Hong Kong - Credit Card Scheme and Issuer Shares in Terms of Transaction Values (%), 2014
Figure 18: Hong Kong - Growth in Charge Card Transaction Values and Number of Charge Cards in Circulation, 2010-2019
Figure 19: Hong Kong - Charge Card Transaction Volumes and Values by Channel, 2010-2019
Figure 20: Hong Kong - Charge Card Scheme Shares in Terms of Transaction Values (%), 2014
Figure 21: Hong Kong - Number of Commercial Cards in Circulation and Transaction Value, 2010-2019
Figure 22: Hong Kong - Number of Prepaid Cards in Circulation and Transaction Value, 2010-2019

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