Hong Kong Cards and Payments Market Next Big Thing | HSBC, Bank of China, Bank of East Asia, Standard Chartered Bank, Citibank

Latest added Hong Kong Cards and Payments - Opportunities and Risks to 2026 Market research study by HTF MI offers detailed product outlook and elaborates market review till 2026. The market Study is segmented by key regions that is accelerating the marketization. At present, the market is sharping its presence and some of the key players in the study are HSBC, Bank of China, Bank of East Asia, Standard Chartered Bank, Citibank, EPS, Visa, Mastercard, American Express, Diners Club, China UnionPay, AliPayHK, Octopus Wallet, PayPal, WeChat Pay, Samsung Pay, Google Pay, Apple Pay etc. The study is a perfect mix of qualitative and quantitative Market data collected and validated majorly through primary data and secondary sources.

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Summary
Global Data’s 'Hong Kong Cards and Payments - Opportunities and Risks to 2026' 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, cards, credit transfers, direct debits, and cheques during the review-period (2016-20e).

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 (2020e-24f). It also offers information on the country's competitive landscape, including the market shares of issuers and schemes.
The report brings together GlobalData’s research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers details of regulatory policy and recent changes in the regulatory structure.

This report provides top-level market analysis, information and insights into Hong Kong's 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, cards, credit transfers, direct debits, and cheques. It also, includes an overview of the country's key alternative payment instruments.
- E-commerce 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.

Scope
- To help SMEs and startups expand their businesses, in April 2019 the HKMA and banking participants introduced a new tier of bank accounts called Simple Bank Accounts exclusively for corporate customers. Unlike traditional accounts, which offer a full list of services, Simple Bank Accounts offer only basic banking services such as deposits, withdrawals, and local and cross-border fund transfers. In addition, the opening of these accounts involves comparatively less due diligence and supporting documents from applicants. This provides more alternatives in terms of bank account opening to businesses that do not require the full range of banking services generally offered by traditional bank accounts, or else cannot readily provide certain documents required for traditional bank accounts.
- To capitalize on the growing adoption of contactless payments, in May 2020 Hong Kong-based public transportation provider Long Win Bus Company enabled consumers to use contactless Mastercard, Visa, and China UnionPay credit cards to pay for bus fares. Besides contactless payments cards, customers can also use digital wallets such as Alipay and UnionPay to scan the QR code present on bus e-payment terminals to make payments.
- In July 2020, Hong Kong-based virtual bank WeLab Bank collaborated with Mastercard to launch a new line of debit cards that do not have card numbers, expiry dates, or CVVs displayed on them in order to prevent theft of card information and ensure increased security of card payments. The card only has the card holder’s name and a multi-function chip embedded on its surface. The card can be obtained after opening an account with the virtual bank. A virtual debit card is available within the bank’s app, with a physical card delivered later.

Reasons to Buy
- Make strategic business decisions, using top-level historic and forecast market data, related to Hong Kong's cards and payments industry and each market within it.
- Understand the key market trends and growth opportunities in Hong Kong's cards and payments industry.
- Assess the competitive dynamics in Hong Kong's cards and payments industry.
- Gain insights into marketing strategies used for various card types in Hong Kong.
- Gain insights into key regulations governing Hong Kong's cards and payments industry.

Companies Mentioned in the Report
HSBC
Bank of China
Bank of East Asia
Standard Chartered Bank
Citibank
EPS
Visa
Mastercard
American Express
Diners Club
China UnionPay
AliPayHK
Octopus Wallet
PayPal
WeChat Pay
Samsung Pay
Google Pay
Apple Pay

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What we can offer in the Strategic Opportunities
HTF MI analysts identify in broad terms why some companies are gaining or losing share within a given market segment. Every company have its own story and changes in market share are knowingly the most important indicator of management effectiveness & corporate strategies; it is important to identify those who are succeeding in the market and those who are failing, and the cause of the market flux. Key Financial Ratios are also considered to get towards root-cause analysis of each companies such as Return on Assets, ROCE, and Return on Equity etc. From this understanding of the forces driving the market, the analyst team prepares its strategic recommendations. Ultimately, it’s that market wisdom, beyond the market data and forecasts, which is the most valuable component of HTF MI market research studies and provides our clientele with the greatest competitive edge with top level quality standards.

How insights and forecasts from the reports could benefit you:

• To understand latest market dynamics and Demand & Supply situation
• Gauging timing and size of R&D activities
• to gear up or down production cycle to meet demand
• Ways to increase or decrease sales force activities
• Supporting & Adjust Investment/business decisions
• Benchmark and judge own competitiveness
• Assisting in allocating marketing investments
• Supporting company financial and cash flow planning
• Open up New Markets
• To Seize powerful market opportunities
• Identify Key Business Segments, Market proposition & Gap Analysis

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