Hong Kong second quarter credit card transactions up 0.2%

But the number of debit cards in circulation in relation to retail sales and bills payments down 1.2% to 27.1mn.

The number of credit cards in circulation grew to 15.9 million by the end of the second quarter this year, up 2% quarter-to-quarter and 6.2% year-on-year, the Monetary Authority said on Thursday.

There were 98.3 million credit card transactions, up 3% on the previous quarter and 10.8% last year, while the value of credit card transactions was $105.5 billion, up 0.2% and 23.6%.

The number of debit cards in circulation in relation to retail sales and bills payments fell 1.2% to 27.1 million, while the total value decreased by 7.2% to $50.3 billion in second quarter.

Compared to the same period last year, the total number rose 5.1% and the total value grew 16.6%.