DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "The Cards and Payments Industry in Hong Kong: Emerging Trends and Opportunities to 2020" report to their offering.
'The Cards and Payments Industry in Hong Kong: Emerging Trends and Opportunities to 2020' report provides detailed analysis of market trends in the Hong Kong cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cash, check payments, payment cards, direct debits and credit transfers during the review period (2011-2015).
The report also analyzes various payment card markets operating in the industry, and provides detailed information on the number of cards in circulation, and transaction values and volumes during the review period and over the forecast period (2016-2020). It also offers information on the country's competitive landscape, including the market shares of issuers and schemes.
Key Highlights:
- Banks are offering multiple currency payments cards to capitalize on the increasing cross-border trade between Hong Kong and mainland China, and the fast-growing Chinese population working and studying in Hong Kong. For instance, the Industrial and Commercial Bank of China (ICBC) launched the ICBC UnionPay Dual Currency Platinum Card in July 2015 in collaboration with UnionPay. The card comes with Union Pay's Quick Pass service, enabling cardholders to make payments by tapping the card at 5 million Quick Pass terminals worldwide.
- Alternative payments are gaining traction among Hong Kong consumers, with the availability of instruments such as Octopus, YuuPay, PayPal, Alipay and Tenpay. Introduced in July 2016, Apple Pay can be used by holders of Visa, MasterCard and American Express cards issued by HSBC, Bank of China, Hang Seng, DBS Bank and Standard Chartered. It allows users to make purchases at participating stores with Apple devices including the iPhone 6, iPhone 6 Plus, iPhone 6s, iPhone 6s Plus, Apple Watch, iPad mini 4, iPad Air 2 and both iPad Pro models. Apple Pay payments are accepted by around 10,000 merchants in Hong Kong, and more than 10 million in nine countries worldwide.
- Leading scheme providers such as Visa and MasterCard have also introduced payment solutions in Hong Kong. MasterCard launched the Master Pass digital wallet in July 2015, enabling customers to make online payments with a registered payment card using a mobile phone, without disclosing card details with every purchase. Consumers can set up a Master Pass account by visiting MasterCard's website, and signing up with a participating bank such as Bank of East Asia, China Construction Bank, Dah Sing Bank and DBS Bank. Visa launched the Visa Checkout online payment service in December 2015, allowing users to pay for online purchases by smartphone.
Key Topics Covered:
1 Definitions and Methodology
2 Key Facts and Events
3 Executive Summary
4 Payment Instruments
5 E-Commerce and Alternative Payments
6 Regulations in the Cards and Payments Industry
7 Analysis of Cards and Payments Industry Drivers
8 Market Segmentation and New Product Launches
9 Payment Cards
10 Debit Cards
11 Pay Later Cards
12 Commercial Pay Later Cards
13 Prepaid Cards
14 Appendix
Companies Mentioned
- EPS
- HSBC
- Standard Chartered
- Bank of China
- Bank of East Asia
- DBS Bank
- Citibank
- Aeon Credit Service
- MasterCard
- Visa
- American Express
- Diners Club
For more information about this report visit http://www.researchandmarkets.com/research/2xj9c5/the_cards_and
Related Topics: Bank Cards
