In the latest publication of Ken Research titled “The Cards and Payments Industry in China: Emerging Trends and Opportunities to 2020” offers detailed analysis of segment dynamics, consumer trends and regulatory amendments of cards and payments market in China. The report comes very handy for comprehensive analysis of various market drivers, their strategies to market card and payment industry and regulations governing the cards and payment industry of China.
Urbanization and an increasing middle class population, surging popularity of technology and regulatory support for the use of debit and credit cards is resulting in shift towards card-based transactions. The banks can charge a maximum of 0.9% on card payment. The central bank has announced to further reduce this cap to 0.35% for debit card and 0.45% for credit card payments. Increase in the population base using banking facility are intimidating banks to establish more and more ATMs in both urban and rural areas which is further extending the user base.
China’s first digital-only bank ‘Webank’ has been followed by another two digital banks “MYBank” and “Baixin Bank” which is likely to ignite digitalization of banking sector. The Chinese card payments channel has blown up both in volume and value terms. A robust growth has been witnessed in the issue of cards from 2.0 billion cards in 2008 to 3.9 billion cards in 2012, at a CAGR of 18.42%. Debit card category held the largest proportion of the market share and accounted for 82.3% in 2012 with a high CAGR of 17.89%. Total card volume is expected to grow at a CAGR of 8.06% to reach 6.1 billion cards by the end of 2017.
The report provides an essence of the current status for the Chinese cards and payments industry for 2015, and forecast figures to 2020. It gives detailed analysis of leading market players, consumer trends and category dynamics and provides insight on the regulatory framework and appropriate strategy of the market players. E-commerce market analysis, details on competitive landscape in the Chinese cards and payments and different demographic, economic, infrastructural and business drivers affecting the Chinese cards and payments industry has also been well-examined in the report.
Key points covered in the report:
- Market trends and growth opportunities in the Chinese cards and payments industry
- Key regulations governing the Chinese cards and payments industry
- Analysis of consumer attitudes and buying preferences for cards
- Current and forecast values for each market in the Chinese cards and payments industry
For more coverage refer to the following link:
Ankur Gupta, Head Marketing & Communications