NEW YORK, May 12, 2016 /PRNewswire/ --
Timetric's 'The Cards and Payments Industry in Hong Kong: Emerging Trends and Opportunities to 2019' report provides detailed analysis of market trends in Hong Kong cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including check payments, credit transfers, direct debits, payment cards and cash transactions during the review period (2010–2014).
The report also analyzes various payment cards market operating in the industry and provides detailed information on the number of cards in circulation, and transaction values and volumes during the review period and over the forecast period (2015–2019). It also offers information on the country's competitive landscape, including market shares of issuers and schemes.
The report brings together Timetric's research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers detailed regulatory policies, recent changes in regulatory structure and profiles of card issuers operating in the country.
Timetric's 'The Cards and Payments Industry in Hong Kong: Emerging Trends and Opportunities to 2019' report provides top-level market analysis, information and insights into Hong Kong cards and payments industry, including:
• Current and forecast values for each market in Hong Kong cards and payments industry, including debit card, credit and charge cards. It also includes detailed analysis of the prepaid card market.
• Detailed insights into payment instruments including credit transfers, cash transactions, checks, direct debits and payment cards. It also, includes an overview of the country's key alternative payment instruments.
• E-commerce market analysis.
• Analysis of various market drivers and regulations governing Hong Kong cards and payments industry.
• Detailed analysis of strategies adopted by banks and other institutions to market debit, credit and charge cards.
• Comprehensive analysis of consumer attitudes and buying preferences for cards.
• The competitive landscape of Hong Kong cards and payments industry.
• This report provides a comprehensive analysis of Hong Kong cards and payments industry.
• It provides current values for Hong Kong cards and payments industry for 2014, and forecast figures to 2019.
• It details the different demographic, economic, infrastructural and business drivers affecting Hong Kong cards and payments industry.
• It outlines the current regulatory framework in the industry.
• It details marketing strategies used by various banks and other institutions.
Reasons To Buy
• Make strategic business decisions, using top-level historic and forecast market data, related to Hong Kong cards and payments industry and each market within it.
• Understand the key market trends and growth opportunities in Hong Kong cards and payments industry.
• Assess the competitive dynamics in Hong Kong cards and payments industry.
• Gain insights into marketing strategies used for various card types in Hong Kong.
• Gain insights into key regulations governing Hong Kong cards and payments industry.
• To capitalize on the increasing cross-border trade between Hong Kong and mainland China, and cater to the fast-growing Chinese population working and studying in Hong Kong, banks are issuing multiple-currency payment cards. For instance, Industrial and Commercial Bank of China (ICBC), in collaboration with UnionPay, launched the ICBC UnionPay Dual Currency Platinum Card in July 2015. This card comes with UnionPay's QuickPass service, which enables cardholders to make payments by tapping the card across 5 million QuickPass terminals worldwide. While Hong Kong-based and overseas expenses are settled in the local currency, expenses made in mainland China are settled in the Chinese currency. Similarly, Banco Nacional Ultramarino partnered with UnionPay to introduce a triple currency credit card in August 2015, which can be used in Hong Kong, mainland China and Macau.
• The uptake of alternative payments among Hong Kong consumers is gaining traction with the emergence of number of alternative payment instruments, such as MasterPass – a digital wallet introduced by MasterCard in July 2015. MasterPass enables customers to make online payments with an enrolled payment card using a mobile phone, and customers are not required to disclose card details with every purchase. Consumers can set up a MasterPass account by visiting MasterCard's website, and signing up with a participating bank such as Bank of East Asia, China Construction Bank, Dah Sing Bank and DBS Bank.
• To offer a more convenient and faster checkout, Visa launched its online payment service, Visa Checkout, in December 2015. This service allows users to pay for online purchases via their smartphones. Visa Checkout stores the user's personal information and uses a username and password for authentication, in order to streamline the ordering process. The service enables consumers to make purchases by using a smartphone, tablet, laptop or PC, and consumers are not required to leave the merchant's website to complete a transaction. PayPal had previously launched One Touch, a similar instant checkout service, in November 2015. One Touch can be activated from the PayPal website, and can be used to skip the login process at eligible websites to accelerate the payment process.
Read the full report: http://www.reportlinker.com/p03688718-summary/view-report.html
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