The Hong Kong Monetary Authority (HKMA) published today statistics of payment cards issued in Hong Kong for the third quarter of 2012.
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 17.3 million by the end of Q3/2012. The figure represents a 1.3% increase from the previous quarter and a 6.4% 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 110.3 million for Q3/2012, representing a 3.7% increase from the previous quarter and a 14.2% increase from the same period in 2011. The total value of credit card transactions was HK$113.9 billion for Q3/2012, representing a 1.5% increase from the previous quarter and a 5.3% increase from the same period in 2011.
The total number of debit cards in circulation is not available due to overlapping of debit card brands in a single card. (Note 4) 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 5) 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 decreased by 2.6% to 27.0 million while the total value decreased by 2.2% to HK$51.0 billion in Q3/2012. When compared to the same period in 2011, the total number increased by 2.9% and the total value rose by 3.9% in Q3/2012.
Hong Kong Monetary Authority
17 December 2012
Notes:
The payment card statistics are collected under the Code of Practice for Payment Card Scheme Operators, which was drawn up by the eight card operators and endorsed by the HKMA. For more information on the Code, please see http://www.hkma.gov.hk/eng/key-information/press-releases/2006/20061214-3.shtml.
Care should be exercised in combining the credit card retail sales figures and the debit card retail sales/bills payment figures because of the possibility of double counting. For example, a cardholder may use a credit card to purchase an item and then pay the credit card bill by a debit payment. This transaction would be included in both the credit card and debit card retail sales figures.