China Cards and Payments: Opportunities and Risks to 2028

List of Tables

GlobalData's 'China Cards and Payments: Opportunities and Risks to 2028' 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, credit transfers, cash, direct debits and cheques. 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.

GlobalData's 'China Cards and Payments: Opportunities and Risks to 2028' 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, credit transfers, cash, direct debits and cheques during the review-period (2020-24e).

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 (2024e-28f). 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.

Key Highlights

China's debit card market is dominated by domestic scheme provider CUP. However, In February 2020, the PBOC granted principal approval for Mastercard's joint venture with NetsUnion Clearing Corporation to establish a domestic bank card clearing institution in China. In November 2023, Mastercard received formal approval from the PBOC and the National Administration of Financial Regulation to commence domestic bank card clearing operations. Starting from May 2024, Mastercard began issuing its debit cards and initiated payment processing in China. It is offering a range of debit cards in the country, including Standard, Platinum, and World variants.
To promote the acceptance of card payments among small merchants, Alipay launched Tap to Pay on Android phones in July 2024. This feature allows business users to accept contactless payments on NFC-enabled Android and iPhone devices. It is currently available in major cities across China and accessible to over 2,300 brands and merchants nationwide. Additionally, Alipay offers Dragonfly, a facial recognition-powered POS system that enables consumers to make payments at merchant stores by smiling into a camera integrated with a POS terminal.
Despite strong payment card penetration, the Chinese payment ecosystem is dominated by mobile wallets. This is due to the early and widespread adoption of mobile payment platforms such as Alipay and Tenpay. These platforms offer unparalleled convenience, security, and acceptance, overshadowing traditional payment methods. To encourage card usage, the Payment & Clearing Association of China is currently in negotiations with international scheme providers Mastercard and Visa. The aim is to reduce their merchant interchange fee from the current range of 2-3% to 1.5%. If agreed, this move is expected to encourage greater adoption of payment cards among local merchants in the country.

Scope

Card market size in terms of number of cards, value and volume of transactions in China along with detailed card segmentation of debit, credit and charge cards available in the country.
Market sizing and analysis of major payment instruments including cards, credit transfers, cash, direct debits and cheques.
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 China cards and payments industry.
Assess the competitive dynamics in the China cards and payments industry.
Gain insights into marketing strategies used for various card types in China.
Gain insights into key regulations governing the China cards and payments industry.

Product Code: GDFS0831CI

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: GDFS0831CI

List of Tables

Key facts, 2024
Benchmarking of payment cards, 2024
Payment instrument transaction values (LCU), 2020-28f
Payment instrument transaction values ($), 2020-28f
Payment instrument transaction volumes (units), 2020-28f
Payment cards in circulation by type (units), 2020-28f
Volume of payment card transactions (units), 2020-28f
Value of payment card transactions (LCU), 2020-28f
Value of payment card transactions ($), 2020-28f
Debit cards in circulation (units), 2020-28f
Debit card transaction volumes, 2020-28f
Debit card transaction values (LCU), 2020-28f
Debit card transaction values ($), 2020-28f
Debit cards in circulation by scheme (units), 2020-24e
Debit card transaction values by scheme (LCU), 2020-24e
Debit card transaction values by scheme ($), 2020-24e
Debit cards in circulation by issuer (units), 2020-24e
Debit cards transaction value by issuer (LCU), 2020-24e
Debit cards transaction value by issuer ($), 2020-24e
credit and charge cards in circulation (units), 2020-28f
credit and charge card transaction volumes, 2020-28f
credit and charge card transaction values (LCU), 2020-28f
credit and charge card transaction values ($), 2020-28f
credit and charge cards in circulation by scheme (units), 2020-24e
credit and charge card transaction values by scheme (LCU), 2020-24e
credit and charge card transaction values by scheme ($), 2020-24e
credit and charge cards in circulation by issuer (units), 2020-24e
credit and charge cards transaction value by issuer (LCU), 2020-24e
credit and charge cards transaction value by issuer ($), 2020-24e
Credit cards in circulation (units), 2020-28f
Credit card transaction volumes, 2020-28f
Credit card transaction values (LCU), 2020-28f
Credit card transaction values ($), 2020-28f
Credit cards in circulation by scheme (units), 2020-24e
Credit card transaction values by scheme (LCU), 2020-24e
Credit card transaction values by scheme ($), 2020-24e
Credit cards in circulation by issuer (units), 2020-24e
Credit cards transaction value by issuer (LCU), 2020-24e
Credit cards transaction value by issuer ($), 2020-24e
charge cards in circulation (units), 2020-28f
charge card transaction volumes, 2020-28f
charge card transaction values (LCU), 2020-28f
charge card transaction values ($), 2020-28f
charge cards in circulation by scheme (units), 2020-24e
charge card transaction values by scheme (LCU), 2020-24e
charge card transaction values by scheme ($), 2020-24e
merchant acquiring transaction volumes (units), 2019-28f
merchant acquiring transaction values (LCU), 2019-28f
merchant acquiring transaction values ($), 2019-28f
acquirers' transaction volumes (units), 2019-23e
acquirers' transaction values (LCU), 2019-23e
acquirers' transaction values ($), 2019-23e
retail outlets and card-accepting merchants (units), 2019-28f
debit card average interchange fees (%), 2019-23e
credit and charge card average interchange fees (%), 2019-23e
debit card merchant service charge and interchange fee (%), 2019-28f
credit and charge card merchant service charge and interchange fee (%), 2019-28f
retail market by product categories (LCU), 2020-28f
retail market by product categories ($), 2020-28f
retail market by service categories (LCU), 2019-23
retail market by service categories ($), 2019-23

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 and charge card frequency of payments and average transaction value
Credit and charge card schemes transaction value and volume
Credit and charge card issuers by number of cards and transaction value
Credit card debt
Contactless card holding and usage in detail
Merchant acquiring of payment card transaction value and volume
Merchant acquiring of payment card transaction value and volume by company type
Retail product by catagories transaction value and year-on-year grouth
Retail services by catagories transaction value and year-on-year grouth
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 2028

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 Tables

List of Figures