Debit Cards in Hong Kong, China - New Study Released
In 2012, debit card slowed down its growth in terms of transaction value. Debit cards recorded transaction value growth of 5%, reaching HK$219.8 billion in 2012. The economic uncertainty meant consumers were more cautious in spending and more sensitive to discounts. Debit cards did not offer discounts and cash rewards as much as credit card did. Credit cards offered more attractive discounts on purchases, as well as cash rewards, leading to limited growth of debit cards.
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