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Recently Released Market Study: China's Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape

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Boston, MA -- (SBWIRE) -- 02/07/2014 -- During the review period (2008-2012), the Chinese card payments channel registered a CAGR of 18.42%, representing 3.9 billion cards in circulation in 2012. The channel is expected to post a forecast-period (2013-2017) CAGR of 8.06% to reach 6.1 billion cards in circulation by 2017. Changing lifestyle demographics, the popularity of online shopping and higher disposable incomes per capita supported the growth of the volume of cards in circulation. The Chinese card payments channel grew substantially both in volume and value terms during the review period. In terms of number of cards in circulation, the channel grew at a robust pace from 2.0 billion cards in 2008 to 3.9 billion cards in 2012, at a CAGR of 18.42%. Debit card category remained the largest category accounted for 82.3% of the category market share in 2012 and recorded a CAGR of 17.89% during the review period. Over the forecast period, total card volume is expected to grow at a CAGR of 8.06% to reach 6.1 billion cards by the end of 2017. In terms of transactions value, the Chinese card payments channel grew CNY9.6 trillion (US$1.4 trillion) in 2008 to CNY36.9 trillion (US$5.8 trillion) in 2012, at a CAGR of 40.15%. It is expected to grow at a CAGR of 13.96% over the forecast period from CNY46.0 trillion (US$7.3 trillion) in 2013 to CNY77.5 trillion (US$12.2 trillion) in 2017.

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Key Highlights

- The Chinese card payments channel grew substantially both in volume and value terms during the review period. In terms of number of cards in circulation, the channel grew at a robust pace from 2.0 billion cards in 2008 to 3.9 billion cards in 2012, at a CAGR of 18.42%. Debit cards remained the largest category, accounting for 82.3% of the channel in 2012 and recording a CAGR of 17.89% during the review period. Over the forecast period, total card volume is expected to grow at a CAGR of 8.06% to reach 6.1 billion cards by the end of 2017.
- Changing lifestyle demographics, the popularity of online shopping and higher disposable incomes per capita supported the growth of the volume of cards in circulation.
- China has an established online-commerce infrastructure. Domestic sites such as Taobao, tuan800 and 360 buy have outperformed international competitors such as ebay and Amazon. High internet penetration rates and the availability of online payment infrastructure have encouraged consumers to spend online.
- The Chinese credit card category is expected to attract more foreign competitors over the forecast period. Foreign banks were not permitted to issue their own credit cards until 2012, and could only circulate co-branded cards in collaboration with a Chinese counterpart. However, Citibank has been granted the first stand-alone license to deal credit cards in the Chinese market. Foreign banks will have to apply to, and be approved by, the regulatory authorities if they wish to do the same.

Scope

Companies Mentioned in this Report: Shanghai Rural Commercial Bank, Bank of China, Industrial and Commercial Bank of China, Agricultural Bank of China, Citibank, MasterCard, Visa,

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