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The Cards and Payments Industry in Hong Kong: Emerging Trends and Opportunities to 2020

Published By :

Timetric

Published Date : Aug 2016

Category :

Banking

No. of Pages : 56 Pages

Synopsis
Timetrics 'The Cards and Payments Industry in Hong Kong: Emerging Trends and Opportunities to 2020' report provides detailed analysis of market trends in the Hong Kong cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cash, check payments, payment cards, direct debits and credit transfers during the review period (20112015).

The report also analyzes various payment card markets 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 (20162020). It also offers information on the country's competitive landscape, including the market shares of issuers and schemes.

The report brings together Timetrics research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers details of regulatory policy and recent changes in the regulatory structure.

Summary
Timetrics 'The Cards and Payments Industry in Hong Kong: Emerging Trends and Opportunities to 2020' report provides top-level market analysis, information and insights into the Hong Kong cards and payments industry, including:

Current and forecast values for each market in the Hong Kong cards and payments industry, including debit and pay later cards.

Detailed insights into payment instruments including cash, credit transfers, direct debits, checks and payment cards. It also includes an overview of the country's key alternative payment instruments.

E-commerce market analysis and payment types.

Analysis of various market drivers and regulations governing the Hong Kong cards and payments industry.

Detailed analysis of strategies adopted by banks and other institutions to market debit and pay later cards.

Comprehensive analysis of consumer attitudes and buying preferences for cards.

The competitive landscape in the Hong Kong cards and payments industry.

Scope
This report provides a comprehensive analysis of the Hong Kong cards and payments industry.

It provides current values for the Hong Kong cards and payments industry for 2015, and forecast figures to 2020.

It details the different demographic, economic, infrastructural and business drivers affecting the 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 the Hong Kong cards and payments industry and each market within it.

Understand the key market trends and growth opportunities in the Hong Kong cards and payments industry.

Assess the competitive dynamics in the 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 the Hong Kong cards and payments industry.

Key Highlights
Banks are offering multiple currency payments cards to capitalize on the increasing cross-border trade between Hong Kong and mainland China, and the fast-growing Chinese population working and studying in Hong Kong. For instance, the Industrial and Commercial Bank of China (ICBC) launched the ICBC UnionPay Dual Currency Platinum Card in July 2015 in collaboration with UnionPay. The card comes with Union Pay's Quick Pass service, enabling cardholders to make payments by tapping the card at 5 million Quick Pass terminals worldwide. While Hong Kong-based and overseas expenses are settled in the local currency, expenses in mainland China are settled in yuan. 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.

Alternative payments are gaining traction among Hong Kong consumers, with the availability of instruments such as Octopus, YuuPay, PayPal, Alipay and Tenpay. Introduced in July 2016, Apple Pay can be used by holders of Visa, MasterCard and American Express cards issued by HSBC, Bank of China, Hang Seng, DBS Bank and Standard Chartered. It allows users to make purchases at participating stores with Apple devices including the iPhone 6, iPhone 6 Plus, iPhone 6s, iPhone 6s Plus, Apple Watch, iPad mini 4, iPad Air 2 and both iPad Pro models. Apple Pay payments are accepted by around 10,000 merchants in Hong Kong, and more than 10 million in nine countries worldwide.

Leading scheme providers such as Visa and MasterCard have also introduced payment solutions in Hong Kong. MasterCard launched the Master Pass digital wallet in July 2015, enabling customers to make online payments with a registered payment card using a mobile phone, without disclosing card details with every purchase. Consumers can set up a Master Pass account by visiting MasterCards website, and signing up with a participating bank such as Bank of East Asia, China Construction Bank, Dah Sing Bank and DBS Bank. Visa launched the Visa Checkout online payment service in December 2015, allowing users to pay for online purchases by smartphone.
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 and Alternative Payments
5.1 E-Commerce Market and Payment Methods
5.2 Alternative Payment Solutions
5.2.1 Octopus
5.2.2 PayPal
5.2.3 Apple Pay
5.2.4 Master Pass
5.2.5 Visa Checkout
5.2.6 Alipay
5.2.7 Tenpay
6 Regulations in the Cards and Payments Industry
6.1 Regulatory Framework
6.1.1 Measures to bring more transparency with regard to charges on credit cards
6.2 Anti-Money Laundering (AML)
6.3 Foreign Direct Investment (FDI) Regulations
7 Analysis of Cards and Payments Industry Drivers
7.1 Demographic and Economic Drivers
7.2 Infrastructure and Business Drivers
8 Market Segmentation and New Product Launches
8.1 Market Segmentation and Targeting
8.1.1 Consumer cards
8.1.2 Commercial cards
8.2 New Product Launches
9 Payment Cards
9.1 Payment Cards Market Analysis
9.1.1 Volume and value of payment card transactions by type
10 Debit Cards
10.1 Debit Card Market Analysis
10.1.1 Turnover per debit card and transaction values by channel
10.1.2 Debit card scheme and issuer shares in terms of transaction value
10.1.3 Debit cards comparison
11 Pay Later Cards
11.1 Pay Later Cards Market Analysis
11.1.1 Turnover per pay later card and transaction values by channel
11.1.2 Pay later cards scheme and issuer shares in terms of transaction value
11.1.3 Pay later cards comparison
12 Commercial Pay Later Cards
12.1 Commercial Pay Later Cards Market Analysis
12.1.1 Commercial pay later cards comparison
13 Prepaid Cards
13.1 Prepaid Card Market Analysis
13.1.1 Prepaid cards comparison
14 Appendix
14.1 Tables
14.2 Contact Timetric
14.3 About Timetric
14.4 Timetrics Services
14.5 Disclaimer

List of Tables
Table 1: Key Definitions
Table 2: Annual Average Exchange Rate
Table 3: Hong Kong Key Facts, 2015
Table 4: Regional Benchmarking of Hong Kong Payment Cards, 2015
Table 5: Hong Kong Number of Banks, June 2016
Table 6: Hong Kong Mode of Entry of Foreign Banks
Table 7: Cards for High-Income Consumers, 2016
Table 8: Cards for Travelers, 2016
Table 9: Cards for Shoppers, 2016
Table 10: Commercial Cards Comparison and Key Features, 2016
Table 11: Hong Kong New Product Launches
Table 12: Hong Kong Debit Cards Comparison and Key Features, 2016
Table 13: Hong Kong Gold Credit Cards Comparison and Key Features, 2016
Table 14: Hong Kong Premium Credit Cards Comparison and Key Features, 2016
Table 15: Hong Kong Commercial Credit Cards Comparison and Key Features, 2016
Table 16: Hong Kong Prepaid Cards Comparison and Key Features, 2016
Table 17: Hong Kong Payment Instrument Transaction Values (HKD Trillion), 20112015
Table 18: Hong Kong Payment Instrument Transaction Values (US$ Billion), 20112015
Table 19: Hong Kong Payment Instrument Transaction Volumes (Million), 20112015
Table 20: Hong Kong Number of Payment Cards in Circulation by Type (Million), 20112020
Table 21: Hong Kong Volume of Payment Card Transactions by Type (Million), 20112020
Table 22: Hong Kong Value of Payment Card Transactions by Type (HKD Billion), 20112020
Table 23: Hong Kong Value of Payment Card Transactions by Type (US$ Billion), 20112020
Table 24: Hong Kong Number of Debit Cards in Circulation (Million), 20112020
Table 25: Hong Kong Debit Card Transaction Volumes and Frequency by Channel, 20112020
Table 26: Hong Kong Debit Card Total and Average Transaction Values by Channel, 20112020
Table 27: Hong Kong Debit Card Total and Average Transaction Values by Channel, 20112020
Table 28: Hong Kong Number of Debit Cards in Circulation By Scheme (Million), 20112015
Table 29: Hong Kong Debit Card Transaction Values By Scheme (HKD Billion), 20112015
Table 30: Hong Kong Debit Card Transaction Values By Scheme (US$ Billion), 20112015
Table 31: Hong Kong Debit Card Transaction Values by Issuer (HKD Billion), 20112015
Table 32: Hong Kong Debit Card Transaction Values by Issuer (US$ Billion), 20112015
Table 33: Hong Kong Number of Pay Later Cards in Circulation (Million), 20112020
Table 34: Hong Kong Pay Later Cards Transaction Volumes and Frequency by Channel, 20112020
Table 35: Hong Kong Pay Later Cards Total and Average Transaction Values by Channel, 20112020
Table 36: Hong Kong Pay Later Cards Total and Average Transaction Values by Channel, 20112020
Table 37: Hong Kong Number of Pay Later Cards in Circulation By Scheme (Thousand), 20112015
Table 38: Hong Kong Pay Later Cards Transaction Values By Scheme (HKD Billion), 20112015
Table 39: Hong Kong Pay Later Cards Transaction Values By Scheme (US$ Billion), 20112015
Table 40: Hong Kong Pay Later Cards Transaction Values By Issuer (HKD Billion), 20112015
Table 41: Hong Kong Pay Later Cards Transaction Values By Issuer (US$ Billion), 20112015
Table 42: Hong Kong Number of Credit Cards in Circulation (Million), 20112020
Table 43: Hong Kong Credit Card Transaction Volumes and Frequency by Channel, 20112020
Table 44: Hong Kong Credit Card Total and Average Transaction Values by Channel, 20112020
Table 45: Hong Kong Credit Card Total and Average Transaction Values by Channel, 20112020
Table 46: Hong Kong Number of Credit Cards in Circulation By Scheme (Thousand), 20112015
Table 47: Hong Kong Credit Card Transaction Values By Scheme (HKD Billion), 20112015
Table 48: Hong Kong Credit Card Transaction Values By Scheme (US$ Billion), 20112015
Table 49: Hong Kong Number of Charge Cards in Circulation (Thousand), 20112020
Table 50: Hong Kong Charge Card Transaction Volumes and Frequency by Channel, 20112020
Table 51: Hong Kong Charge Card Total and Average Transaction Values by Channel, 20112020
Table 52: Hong Kong Charge Card Total and Average Transaction Values by Channel, 20112020
Table 53: Hong Kong Number of Charge Cards in Circulation By Scheme (Thousand), 20112015
Table 54: Hong Kong Charge Card Transaction Values By Scheme (HKD Billion), 20112015
Table 55: Hong Kong Charge Card Transaction Values By Scheme (US$ Million), 20112015
Table 56: Hong Kong Personal and Commercial Pay Later Cards Transaction Volumes (Million), 20112020
Table 57: Hong Kong Personal and Commercial Pay Later Cards Transaction Values (HKD Billion), 20112020
Table 58: Hong Kong Personal and Commercial Pay Later Cards Transaction Values (US$ Billion), 20112020
Table 59: Hong Kong Number of Commercial Pay Later Cards in Circulation (Thousand), 20112020
Table 60: Hong Kong Commercial Pay Later Cards Transaction Volumes (Million), 20112020
Table 61: Hong Kong Commercial Pay Later Cards Transaction Values (HKD Billion), 20112020
Table 62: Hong Kong Commercial Pay Later Cards Transaction Values (US$ Billion), 20112020
Table 63: Hong Kong Number of Prepaid Cards in Circulation (Million), 20112020
Table 64: Hong Kong Prepaid Card Transaction Values (HKD Billion), 20112020
Table 65: Hong Kong Prepaid Card Transaction Values (US$ Billion), 20112020

List of Figures
Figure 1: Hong Kong Payment Instrument Shares by Transaction Value (%), 2011 vs 2015
Figure 2: Hong Kong Payment Instrument Shares by Transaction Volume (%), 2011 vs 2015
Figure 3: Hong Kong E-Commerce Value (US$ Billion) and Payment Methods (%)
Figure 4: Hong Kong Population and Economic Indicators
Figure 5: Hong Kong Number of ATMs and POS Terminals, and Real Household Consumption
Figure 6: Hong Kong Cards and Payments Industry Segmentation by Card Type, 2016
Figure 7: Hong Kong Growth in Payment Card Transaction Values and Number of Cards in Circulation by Type, 20112020
Figure 8: Hong Kong Volume and Value of Payment Card Transactions by Type (%), 20112020
Figure 9: Hong Kong Debit Card Penetration and Number of Cards in Circulation, 20112020
Figure 10: Hong Kong Turnover Per Debit Card and Transaction Values by Channel, 20112020
Figure 11: Hong Kong Debit Card Scheme and Issuer Shares in Terms of Transaction Value (%), 2015
Figure 12: Hong Kong Pay Later Cards Penetration and Number of Cards in Circulation, 20112020
Figure 13: Hong Kong Turnover Per Pay Later Card and Transaction Values by Channel, 20112020
Figure 14: Hong Kong Pay Later Card Scheme and Issuer Shares in Terms of Transaction Value (%), 2015
Figure 15: Hong Kong Personal vs Commercial Pay Later Cards, Transaction Volumes and Values (%), 20112020
Figure 16: Hong Kong Number of Commercial Pay Later Cards in Circulation, Transaction Values and Volumes, 20112020
Figure 17: Hong Kong Number of Prepaid Cards in Circulation and Transaction Value, 20112020

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