China Cards and Payments: Opportunities and Risks to 2029

Description

List of Tables

GlobalData's 'ChinaCards and Payments: Opportunities and Risks to 2029' 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 cash, card, credit transfer, direct debits, and cheques during the review-period (2021-25e).

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 (2025e-29f). 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.

GlobalData's 'China Cards and Payments: Opportunities and Risks to 2029' 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 cash, credit transfer, card, cheques and direct debits . 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.

Key Highlights

The Chinese Government promotes initiatives to push cashless payments. As one such initiative, in April 2024, the PBOC, along with the Ministry of Culture and Tourism, the State Administration of Foreign Exchange, and the State Administration of Cultural Heritage departments issued a notice to encourage electronic payment acceptance in the country. As part of this, government agencies are required to provide adequate acceptance payment infrastructure; enabling consumers to pay for cultural and tourism transactions digitally using debit/credit cards and digital wallets.
International payment service providers are forging partnerships with local entities to deliver comprehensive payment solutions. In December 2024, South Korea's Naver Corp. collaborated with WeChat Pay to broaden the reach of its mobile payment and digital wallet service Naver Pay throughout China; utilizing QR code technology. With this strategic move, Naver is poised to become the first South Korean company to provide QR-code-based payment and online transaction services in conjunction with WeChat Pay. This alliance enables South Korean consumers to conduct seamless cross-border transactions in China by using Naver Pay through QR codes.
In February 2025, as part of the Closer Economic Partnership Arrangement between the Mainland and Hong Kong, China announced its decision to permit Hong Kong banks to issue payment cards for customers on the mainland, effective from March 1, 2025. Consequently, leading Hong Kong banks-including HSBC, Standard Chartered Bank, The Bank of East Asia (BEA), and Hang Seng Bank-stand to gain from this initiative. However, Hong Kong banks will be restricted to providing foreign currency bank cards exclusively to Mainland Chinese residents. The banking services will encompass the issuance of debit and credit cards, withdrawals, and fund transfers.

Scope

Card market size in terms of number of cards, value and volume of transactions in Chinaalong with detailed card segmentation of debit, credit and charge cards available in the country.
Market sizing and analysis of major payment instruments including cash, credit transfer, card, cheques and direct debits .
Payment market trends and growth for both historical and forecast period
Competitor analysis with detailed insights into leading card issuers and schemes.
Comprehensive analysis of consumer attitudes and buying preferences for cards.
A detailed snapshot of country's key alternative payment brands.

Reasons to Buy

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.

Product Code: GDFS0895CI

1. Executive Summary

2. Market Overview

3. Payment Instruments

4. Card-Based Payments

5. Merchant Acquiring

6. Ecommerce Payments

7. In-Store Payments

8. Buy Now Pay Later

9. Mobile Payments

10. P2P Payments

11. Bill Payments

12. Alternative Payments

13. Payment Innovation

14. Job Analysis

15. Payment Infrastructure and Regulation

16. Appendix

Product Code: GDFS0895CI

List of Table

List of Tables

Key facts, 2025
Benchmarking of payment cards, 2025e
Payment instrument transaction values (LCU), 2021-29f
Payment instrument transaction values ($), 2021-29f
Payment instrument transaction volumes (units), 2021-29f
Payment cards in circulation by type (units), 2021-29f
Volume of payment card transactions (units), 2021-29f
Value of payment card transactions (LCU), 2021-29f
Value of payment card transactions ($), 2021-29f
Debit cards in circulation (units), 2021-29f
Debit card transaction volumes, 2021-29f
Debit card transaction values (LCU), 2021-29f
Debit card transaction values ($), 2021-29f
Debit cards in circulation by scheme (units), 2021-25e
Debit card transaction values by scheme (LCU), 2021-25e
Debit card transaction values by scheme ($), 2021-25e
Debit cards in circulation by issuer (units), 2021-25e
Debit cards transaction value by issuer (LCU), 2021-25e
Debit cards transaction value by issuer ($), 2021-25e
Credit and charge cards in circulation (units), 2021-29f
Credit and charge card transaction volumes, 2021-29f
Credit and charge card transaction values (LCU), 2021-29f
Credit and charge card transaction values ($), 2021-29f
Credit and charge cards in circulation by scheme (units), 2021-25e
Credit and charge card transaction values by scheme (LCU), 2021-25e
Credit and charge card transaction values by scheme ($), 2021-25e
Credit and charge cards in circulation by issuer (units), 2021-25e
Credit and charge cards transaction value by issuer (LCU), 2021-25e
Credit and charge cards transaction value by issuer ($), 2021-25e
Credit cards in circulation (units), 2021-29f
Credit card transaction volumes, 2021-29f
Credit card transaction values (LCU), 2021-29f
Credit card transaction values ($), 2021-29f
Credit cards in circulation by scheme (units), 2021-25e
Credit card transaction values by scheme (LCU), 2021-25e
Credit card transaction values by scheme ($), 2021-25e
Credit cards in circulation by issuer (units), 2021-25e
Credit cards transaction value by issuer (LCU), 2021-25e
Credit cards transaction value by issuer ($), 2021-25e
Charge cards in circulation (units), 2020-29f
Charge card transaction volumes, 2020-29f
Charge card transaction values (LCU), 2020-29f
Charge card transaction values ($), 2020-29f
Charge cards in circulation by scheme (units), 2021-25e
Charge card transaction values by scheme (units), 2021-25e
Charge card transaction values by scheme ($), 2021-25e
Prepaid cards in circulation (millions), 2021-29ePrepaid card transaction values (LCU), 2021-29e
Prepaid card transaction values ($), 2021-29e
Merchant acquiring transaction volumes (units), 2021-29f
Merchant acquiring transaction values (LCU), 2021-29f
Merchant acquiring transaction values ($), 2021-29f
Acquirers' transaction volumes (units), 2021-25e
Acquirers' transaction values (LCU), 2021-25e
Acquirers' transaction values ($), 2021-25e
Retail outlets and card-accepting merchants (units), 2021-29f
Debit card average interchange fees (%), 2021-25e
Credit and charge card average interchange fees (%), 2021-25e
Debit card merchant service charge and interchange fee (%), 2021-29f
Credit and charge card merchant service charge and interchange fee (%), 2021-29f
Retail market by product categories (LCU), 2021-29f
Retail market by product categories ($), 2021-29f
Retail market by service categories (LCU), 2019-23
Retail market by service categories ($), 2019-23

List of Figure

List of Figures

Inflation rate
GDP growth rate
Payment instruments transaction value and volume
Instant payments transaction value and volume
Card penetration
Card payments by value
Debit card frequency of payments and average transaction value
Debit card schemes transaction value and volume
Debit card issuers by number of cards and transaction value
Credit card frequency of payments and average transaction value
Credit card schemes transaction value and volume
Credit card issuers by number of cards and transaction value
Credit card debt
Prepaid Cards: Market Sizing and Forecasting
Contactless card holding and usage in detail
E-commerce transaction value and ecommerce breakdown by mobile vs. desktop/laptop
Ecommerce market by product and services
Ecommerce market by paymnet tools
Factors driving in-store payments and In-store transaction value by payment method
In-store transaction value by products and services
BNPL service used in the last six months and Preferred BNPL brand/tool for in-store payments
BNPL online transaction value and transaction volume
BNPL share of overall ecommerce transaction value and preferred BNPL brand/tool for online payments
Mobile wallet holding and use by demographic
Mobile wallet funding methods, mobile wallet preference by product/service and mobile wallet ownership by brand
Domestic and international P2P money transfers
Paymnet tool preference for bill payment and bill paymnet frequency
Active jobs intensity in the country
Number of POS terminals and ATMs

China Cards and Payments: Opportunities and Risks to 2029

Description

Table of Contents

List of Tables

Key Highlights

Scope

Reasons to Buy

Table of Contents

Table of Contents

1. Executive Summary

2. Market Overview

3. Payment Instruments

4. Card-Based Payments

5. Merchant Acquiring

6. Ecommerce Payments

7. In-Store Payments

8. Buy Now Pay Later

9. Mobile Payments

10. P2P Payments

11. Bill Payments

12. Alternative Payments

13. Payment Innovation

14. Job Analysis

15. Payment Infrastructure and Regulation

16. Appendix

List of Table

List of Tables

List of Figure

List of Figures