Credit card circulation decrease by 1.5% in Q2
Payment card usage increased by 18.8% QoQ in Q2 2021.
The Hong Kong Monetary Authority (HKMA) published the statistics on payment cards issued within the second quarter (Q2) of 2021 on 17 September.
According to the quarterly statistics, the total number of credit cards in circulation was 19.22 million by the end of Q2 2021. The figure represents a 0.5% decrease from the previous quarter and a 1.5% decrease from the previous year. The number and value of credit card transactions, including retail sales and cash advances. are susceptible to seasonal factors and the general economic environment, making the trends more prone to fluctuation.
The total number of debit cards in circulation is not available due to the overlapping of debit card brands in a single card. Like the number and value of credit card transactions, the number and value of debit card transactions with retail sales and bills payments are also affected by seasonal factors.
The payment card statistics include quarterly data on credit and debit cards issued in Hong Kong under schemes of the eight payment card scheme operators. The HKMA began to publish the payment card statistics quarterly in June 2010 to enhance the transparency of the payment card industry in Hong Kong, in line with international practice.