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Hong Kong report shows risks, opportunities in cards, payments industry

Thursday, August 21, 2025 — 16:44:42 (UTC)

DUBLIN--(BUSINESS WIRE)--The "Hong Kong Cards and Payments: Opportunities and Risks to 2029" report has been added to ResearchAndMarkets.com's offering.

The 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, card, credit transfer, direct debits, and cheques during the review-period (2021-25e).

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 (2025e-29f). It also offers information on the country's competitive landscape, including market shares of issuers and schemes.

The report brings together 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.

The report provides top-level market analysis, information and insights into the Hong Kong cards and payments industry, including:

Current and forecast values for each market in the Hong Kong cards and payments industry, including debit, credit and charge cards.

Detailed insights into payment instruments including cash, card, credit transfer, 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 Hong Kong 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 Hong Kong cards and payments industry.

Key Highlights

Hong Kong is experiencing a notable increase in the use of contactless payments, particularly for public transportation fares. In August 2024, Mastercard announced its integration into the Mass Transit Railway Corporation's (MTR Corporation) contactless card payment services. This advancement permits Mastercard card holders to utilize their contactless payment cards at MTR entry and exit gates when traveling on the MTR heavy rail network, excluding the Airport Express. Tourists are afforded the convenience of paying fares across a comprehensive range of local public transportation options. These include Star Ferry, Tramways, buses (with the exception of New Lantao Bus routes), the Peak Tram, select ferry services, and taxis.

The Hong Kong Monetary Authority (HKMA), banking regulators, and payment participants are actively engaged in efforts to raise awareness about payment security for online payments. In August 2024, the HKMA, in collaboration with the Hong Kong Police Force and the Hong Kong Association of Banks (HKAB), announced that 32 banks and 10 stored value facility operators will expand the coverage of the 'Suspicious Account Alert' system. This expansion applies to both internet banking and transactions conducted at physical branches; offering customers protection against the increasing risks of fraud. Under this, customers will receive an alert message indicating a high fraud risk if the payee's account number, cell phone number, email address or Faster Payment System (FPS) Identifier is labeled as 'High Risk' in the Scameter mobile app.

Cashless payments are prevalent in the realm of public transportation. In a notable development from April 2024, Wonder, a Hong Kong fintech firm and subsidiary of Bindo Labs, received authorization from the Transport Department to implement its smart taximeter with e-payments enabled in local taxis. The Taxi Pay x Wonder system, commonly referred to as Taxi Pay, offers users an array of 18 local and international payment methods integrated with the smart taximeter. Consequently, taxi passengers can opt to pay by scanning a QR code on their cell phones or by tapping their cards on the payment terminal, with taxi fares directly connected to the smart taximeter. Report Scope

Card market size in terms of number of cards, value and volume of transactions in Hong Kong along with detailed card segmentation of debit, credit and charge cards available in the country.

Market sizing and analysis of major payment instruments including cash, card, credit transfer, 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.

Key Topics Covered:

Executive Summary Market Overview Payment Instruments Card-Based Payments Merchant Acquiring Ecommerce Payments In-Store Payments Buy Now Pay Later Mobile Payments P2P Payments Bill Payments Alternative Payments Payment Innovation Job Analysis Payment Infrastructure and Regulation

Company Coverage

HSBC Bank of China Standard Chartered Visa Citibank DBS Bank of East Asia ZA Bank China UnionPay Mastercard Diners Club EPS American Express

For more information about this report visit www.researchandmarkets.com/r/8gy811

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Source: Company press release.

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