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researchFOLKS’ “Cards and Payments Market in Hong Kong” report offers a distinct range of possibilities in the market of payment cards along with the accurately validated statistics of operational cards in the market and their total transactional values. It suggests profitable marketing strategies considering the competitive landscape in the market, purchase trends, payments options in online trade and significant government frameworks impacting the overall payment cards market of Hong Kong.
Our report kindles the hidden opportunities with dependable information about different types of card transactions, volumes of cardholders, market proportion, current accounts, increase within the number of cards, credit cards outstanding balances, transactional values, details of the issuers at the side of available banking schemes and futuristic analysis of overall cards and payment marketplace in Hong Kong.
Cards and Payments Market in Hong Kong – Highlights of the report:
The Hong Kong Monetary Authority (HKMA) is working with Hong Kong Interbank Clearing to launch the Faster Payment System to provide real-time payment processing by 2018. As of now, the Hong Kong Dollar Clearing House Automated Transfer is accountable for settling high-value interbank transactions and electronic clearing for low-value transactions.
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The increasing demand for alternative payments has led to the introduction of new products and services in the country. UnionPay launched its HCE- and tokenization-based m-payment service QuickPass, enabling users to pay using their UnionPay QuickPass chip card or QuickPass-enabled smartphones and wearable devices at contactless POS terminals. Similarly, Samsung Pay allowed consumers to purchase at eligible stores with Samsung devices and HKT Payments announced ‘Instant Bank Transfer’ option to instantly add funds to Tap & Go wallet, alongside recharge by local coins at HEYCOINS kiosks.
The payment solutions by leading scheme providers Visa and MasterCard such as Masterpass, a digital wallet allowing customers to make online payments with a registered payment card using a mobile phone without providing any consumer details and Visa Checkout, an online payment service enabling users to pay for online purchases by using a username and password for authentication storing user card details and shipping address.
List of Companies mentioned in the report:
Standard Chartered
Bank of China
Bank of East Asia
DBS Bank
Aeon Credit Service
American Express
Diners Club
Scope of the report:
The functioning of Malaysia’s cards and payments market and complete analysis of the market drivers
It provides conventional and contemporary information about payment cards of Malaysia and market predictions till 2022
It details the emerging payment solutions and their economic, regional and business impact on the cards and payments industry of Malaysia
Detailed information about existing market leaders, their strategies and government policies driving the payment cards market
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