China Cards and Payments - Opportunities and Risks to 2027

Abstract

GlobalData's 'China Cards and Payments: Opportunities and Risks to 2027' report provides detailed analysis of market trends in the Chinese cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cards, cash, direct debits, credit transfers, cheques, and mobile wallets during the review-period (2019-23e).

The report also analyzes various payment card markets operating in the industry and provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2023e-27f). It also offers information on the country's competitive landscape, including market shares of issuers and schemes.

The report brings together GlobalData'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 and recent changes in regulatory structure.

The report provides top-level market analysis, information and insights into the Chinese cards and payments industry, including -

• Current and forecast values for each market in the Chinese cards and payments industry, including debit, credit and charge cards.
• Detailed insights into payment instruments including cards, cash, direct debits, credit transfers, cheques, and mobile wallets. It also, includes an overview of the country's key alternative payment instruments.
• Ecommerce market analysis.
• Analysis of various market drivers and regulations governing the Chinese 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 the Chinese cards and payments industry.

Scope

• Contactless card adoption remains low in China, mainly due to the dominance of mobile wallets. However, efforts are being made by banks, card issuers, and payment participants to promote this technology. CUP, Visa, and Mastercard are trying to promote their respective contactless payment technologies in China. In addition, all of the country's major banks now offer contactless cards. To boost contactless payments, CUP increased the contactless payment limit from CNY300 ($43.42) to CNY1,000 ($144.74) in July 2018. As of March 2022, there were 2 million merchants accepting contactless payments across China.
• China is leading the global race to develop a central bank digital currency. After a research and development process that started in 2014, the PBOC announced the start of commercial trials of its digital currency in April 2020. As of the time of writing, e-CNY has been tested in over 25 cities. Users can access it via a dedicated mobile app. Users can sign up for the wallet via seven traditional banks and two digital-only banks. Users can make P2P transfers and spend e-CNY at participating retail outlets and websites. The use of e-CNY has also been extended to transport payments. According to the central bank, as of October 2022, Chinese consumers had completed 360 million e-CNY transactions worth more than $14 billion at 5.6 million merchants.
• While buy now pay later (BNPL) solutions are increasingly gaining traction, regulations are hurting the market. In March 2021, the government passed a law that bans micro-lending companies from offering online consumer loans (including BNPL services) to students. Meanwhile, in September 2021, Huabei was integrated into China's central bank credit reporting system, requiring Huabei to report customer details including account opening date, credit line, usage status, and repayment status to the central bank.

Reasons to Buy

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