Source: Hong Kong Government special administrative region
Statistics of payment cards issued in Hong Kong for fourth quarter 2024
The payment card statistics (see Annex) include quarterly data on credit and debit cards issued in Hong Kong under the credit and/or debit card schemes of the eight payment card scheme operators (Note 1). The HKMA began to publish the payment card statistics on a quarterly basis in June 2010 to enhance transparency of the payment card industry in Hong Kong, in line with international practice.
According to the quarterly statistics, the total number of credit cards in circulation (Note 2) was 20.94 million by the end of Q4/2024. The figure represents a 3.2 per cent increase from the previous quarter and a 6.4 per cent increase from the previous year. The number and value of credit card transactions (including retail sales and cash advances) (Note 3) are susceptible to seasonal factors and the general economic environment, making the trends more prone to fluctuation. The total number of credit card transactions was 339.27 million for Q4/2024, representing a 3.1 per cent increase from the previous quarter and a 11.9 per cent increase from the same period in 2023. The total value of credit card transactions was HK$271.4 billion for Q4/2024, representing a 9.1 per cent increase from the previous quarter and a 10.8 per cent increase from the same period in 2023. Of the total transaction value, HK$182.8 billion (67.4 per cent) was related to retail spending in Hong Kong, HK$79.3 billion (29.2 per cent) in retail spending overseas and HK$9.3 billion (3.4 per cent) in cash advances.
The total number of debit cards in circulation is not available due to overlapping of debit card brands in a single card. Like the number and value of credit card transactions, the number and value of debit card transactions in relation to retail sales and bills payments (Note 4) are also affected by seasonal factors. On a quarterly basis, the total number of debit card transactions in relation to retail sales and bills payments increased by 2.7 per cent to 55.50 million while the total value increased by 6.6 per cent to HK$73.0 billion in Q4/2024. When compared to the same period in 2023, the total number increased by 14.1 per cent and the total value dropped by 0.2 per cent in Q4/2024.
Note 1: The payment card statistics are compiled from data on credit and debit cards issued in Hong Kong by both authorized institutions (AIs) and non-authorized institutions (non-AIs) under the credit and/or debit card schemes of the eight payment card scheme operators (“the card operators”). The card operators, in alphabetical order, are American Express International, Inc., Discover Financial Services (Hong Kong) Limited, EPS Company (Hong Kong) Limited (EPSCO), JCB International (Asia) Ltd, Joint Electronic Teller Services Ltd. (JETCO), MasterCard Asia/Pacific Pte. Ltd., UnionPay International Co. Ltd and Visa Worldwide Pte. Limited.Issued at HKT 16:55
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