Hong Kong Monetary Authority: The total number of credit cards in circulation in the market at the end of the second quarter was 19.89 million, an increase of 0.9% year-on-year.

16:40 20/09/2024

On September 20th, the Hong Kong Monetary Authority released the statistical data of payment cards issued in Hong Kong in the second quarter of 2024.

On September 20, the Hong Kong Monetary Authority released statistics on the payment cards issued in Hong Kong in the second quarter of 2024. According to the quarterly statistics, the total number of credit cards in circulation in the market at the end of the second quarter of 2024 was 19.89 million, a decrease of 0.5% from the previous quarter and an increase of 0.9% from the same period in 2023. The transaction volume and amount of credit cards (including retail sales and cash advances) are easily affected by seasonal factors and the overall economic environment, leading to fluctuations. In the second quarter of 2024, the total transaction volume of credit cards was 322.06 million, an increase of 6.5% from the previous quarter and 26.7% from the same period in 2023. The total transaction amount of credit cards in the second quarter of 2024 was HK$ 239.2 billion, a decrease of 5.4% from the previous quarter and an increase of 10.0% compared to the same period in 2023. Of the total transaction amount, HK$ 165.6 billion (69.2%) was spent in Hong Kong, HK$ 64.6 billion (27.0%) was spent overseas, and HK$ 9 billion (3.8%) was used for cash advances. As for debit cards, it is difficult to calculate the total number of debit cards in circulation in the market because the same debit card can contain more than one debit card brand. Similar to credit card transactions, the transaction volume and amount of debit cards involving retail sales and bill payments are also influenced by seasonal factors. In the second quarter of 2024, the total transaction volume of debit cards involving retail sales and bill payments increased by 7.2% to 51.78 million transactions, while the total amount decreased by 11.3% to HK$ 66.8 billion. Compared to the same period in 2023, the total transaction volume of debit cards in the second quarter of 2024 increased by 16.5%, while the total amount decreased by 1.9%.

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