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Personal Finance News Releases
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(MoneyNewsWire.Net, October 25, 2016 ) In addition the report: - Analyzes the consumer attitudes to financial services by life stage. - Analyzes the major payment card types in terms of both card holding and usage - Identifies the major competitors in card issuing and how their positions in the market have changed over the last five years
Report URL: http://www.reportsweb.com/country-snapshot-hong-kong-overview-of-the-consumer-payments-market-in-hong-kong?
- Considers consumer attitudes towards P2P tools, mobile payment tools, and contactless cards, and how companies in Hong Kong are deploying these tools to meet customer needs. - Explores the online payment market in Hong Kong by merchant type and payment tool, as well as providing a five-year forecast for the development of the market
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Report Summary
Hong Kong represents a mature payment card market in Asia, with 25 million payment cards in issue and a population of over 7 million. Despite a high card per customer ratio, Hong Kong is expected to see mild growth in both card numbers and the value of transactions in the coming years.
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Key Finding
- Pay-later cards are the fastest growing payment card segment in Hong Kong, mostly driven by the popularity of credit cards. - Credit card is the number one payment tool for online commerce, and 43% of consumers highlighted convenience and ability to earn rewards as the two top factors for using credit cards online. - Hong Kong consumers see the benefits of contactless cards, but are concerned about security. In October 2015, HKMA ordered seven banks to recall their contactless credit cards, citing a security flaw which allowed unauthorized access to card holders' personal information.
Reason to Buy
- Understand the key facts and figures in the consumer payments market in Hong Kong. - Learn what trends drive consumer behavior at the macro level and plan your strategy accordingly. - Find out what products the major competitors are launching in the market. - Discover consumer sentiments towards various payment tools in the Hong Kong market and use this knowledge to inform product design.
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ReportsWeb.com
Priya Sisodia
+1-646-491-9876
sales@reportsweb.com
Source: EmailWire.Com
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