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Hong Kong

Cards, Payments & Consumer Banking

Author: Lafferty Research

Publishing date: August 2018

A comprehensive overview of the cards, payments and consumer banking market in Hong Kong.

Hong Kong Research Summary Highlights

  • Hong Kong is predominantly a cash-oriented society. However, the proportion of cash-based transactions carried out in the country is in decline, with the proportion dropping to 58 percent in 2016from 61 percent in 2011.
  • Hong Kong has a developed payment cards market, and card usage has been growing over the years. Aggressive promotion by issuers to encourage card spending, improved card security and the increasing acceptance infrastructure are the key drivers of growth.
  • Credit cards are the most popular card-based payment method in Hong Kong, with about 62 percent of total POS spending carried out using credit cards in 2017.
  • The debit cards space is almost entirely dominated by Easy Pay System (EPS), which is a function that is embedded into credit cards or ATM cards, allowing the cardholder to make debit-based transactions from their current or savings account at an EPS POS terminal.
  • The prepaid cards market is dominated by the Octopus card. The card was initially designed to serve public transport but has subsequently developed into a multifunctional smart card that is used to make low value payments at more than 10,000 retail outlets.

Available for 72 markets, Cards & Payments Research Service Country Reports deliver invaluable market and competitor intelligence on payments cards, e-money, acquiring/processing, retail banking, and consumer credit, plus the key demographic and economic trends shaping each market.

A dedicated team of analysts and researchers use both primary and secondary source data, and conduct in-depth interviews with senior industry executives and experts; each report includes over 320 metrics.


Credit Cards:
We have industry leading credit card coverage. We detail the past present and future of the industry through our data and commentary, including:

  • Market size split by consumer and commercial credit cards: number of cards, transaction volume, billed volume
  • Profit pool analysis
  • Competitive landscape: networks, issuers

Debit Cards:

  • Market size: number of cards, transaction volume, billed volume
  • Competitive landscape: networks, issuers

Prepaid Cards:

  • Market size: number of cards, transaction volume, billed volume

Merchant Acquiring

  • Competitive Landscape
  • Pricing
  • Processing Relationships

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