Home » Business, Personal Finance » Chinese Cards and Payments Market Expected to Grow at a Healthy Rate by P&S Market Research

The research report provides in depth analysis and insights into the China Cards and Payments Market including, strategies deployed by banks to market debit and credit cards and competitive landscape (card issuers in the country) for both debit cards and credit cards. The study includes 3 years historical market size and 6 years market forecast in terms of number of cards, value and volume of transactions processed through these cards, and other key metrics. The report also provides information on the key industry trends, major schemes, banks and detailed segmentation of card and payment industry. The research report is a new offering from the company’s Financial Services domain, and leveraged from the company’s existing cards and payments database of 50+ countries.

Explore Report with Detailed TOC at: https://www.psmarketresearch.com/market-analysis/china-cards-and-payments-market

The Chinese payment card market is dominated by the debit cards segment, in terms of number of cards in circulation. In 2014, the debit cards accounted for 90.5% of the total number of payment cards in circulation. The frequency of debit card use grew at a CAGR of 5.5% during 2012-2014. The frequency of transaction is expected to reach up to 7.7 times a year by 2020. Key players in the debit cards market include Agricultural Bank of China, China Construction Bank, Industrial and Commercial Bank of China, Bank of China and Bank of Communications.

Banks and card issuers target various customer groups to offer different card products, such as retail and corporate clients and specific customer segments. The card issuers target female customers, frequent travelers and corporate customers within the credit card category. In debit card category, the issuers target regular account holders, public transport users and frequent shoppers. While in the charge card category, the banks target corporate customers and high net-worth individuals.

The credit cards in the country are primarily used by consumers at POS terminals for retail purchases, rather than for cash withdrawals at ATMs. The credit card market is expected to grow over the forecast period at a CAGR of 38.0%. The frequency of credit card use increased at a CAGR of 8.6% during 2012-2014. Industrial and Commercial Bank of China was the leading bank in credit card segment in 2014, in terms of number of credit cards in circulation.


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