1. Market Research
  2. > Financial Services
  3. > Banking
  4. > Payments Market Trends
  5. > The Credit Card Market in China: Opportunities for Foreign Firms

The Credit Card Market in China: Opportunities for Foreign Firms

  • January 2013
  • -
  • Packaged Facts
  • -
  • 96 pages

Summary

Table of Contents

Search Inside

The credit card market in China has been growing at double-digit rates since the early 1990s and has boomed since 2003. China became the world’s second largest credit card market (after the U.S.) in 2012 in terms of number of cards issued and transaction volume, and is expected to become the world's largest credit card market by the year 2020.



Being highly policy-driven, the Chinese credit card market is largely directed by political calculation, policy mission and administrative intervention. Even though economic and social factors play a vital role, government regulations and policies control or strongly influence the competitive landscape, the credit card ecosystem and the industry income structure. Foreign companies must recognize that government regulators are working on a course of regulation that is oriented toward supporting state-owned and domestic Chinese enterprises.



Even so, the Chinese credit card market will continue to be the most promising market worldwide due to the size of the national economy and population. And the relative slow-down of the Chinese economy will have a limited impact on the market given the huge scale of business opportunity and the tight control of credit risks by the central bank. Packaged Facts predicts that market growth in 2012 and 2013 will notch downward due to card migration and risk control concerns, but will pick up again from 2014 onward due to the growing customer base and developing mobile and internet payment business.



Differentiation of positioning based on brand image, promotional strategy and strategic vision is critical to success in this market. Big name foreign firms are attractive to middle- and upper-class Chinese customers, whom foreign companies can target through high-quality and exclusive services. In addition, younger adults are forming a new generation of consumers who are more technologically- and innovation-driven when it comes to choosing credit cards, such that the most technologically advanced companies will be best positioned to perform in this market.



At the same time, the payment processing market is going through a revolution in China with the introduction of third-party payments. New competitors are entering into the market and sharing profits from card payment companies and banks. Alliances and the competitive landscape have been transformed, and payment companies will need to reconsider their positioning and partnership strategy in this market.

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 60 Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
Get This Report
24/7 Customer Support

Talk to Ahmad

+1 718 618 4302

Purchase Reports From Reputable Market Research Publishers
Mobile Payment Technologies Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024

Mobile Payment Technologies Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024

  • $ 5795
  • Industry report
  • February 2017
  • by Transparency Market Research

Global Mobile Payment Technologies Market: Overview This report provides an analysis of the global mobile payment technologies market for the period from 2014 to 2024, wherein the period from 2016 to 2024 ...

Top 10 Telecom Technologies - Forecast to 2021

Top 10 Telecom Technologies - Forecast to 2021

  • $ 5650
  • Industry report
  • February 2017
  • by MarketsandMarkets

“Reduction in queuing & transaction time and increased convenience in making low value payments are driving the contactless payment market” The contactless payment market is estimated to grow from ...

Mobile Wallet - Global Market Outlook (2016-2022)

Mobile Wallet - Global Market Outlook (2016-2022)

  • $ 4157
  • Industry report
  • January 2017
  • by Stratistics MRC

According to Stratistics MRC, the Global Mobile Wallet market is anticipated to grow at a strong CAGR of 35.6% during the forecast period 2015 to 2022. The factors that are driving the market growth include ...


Download Unlimited Documents from Trusted Public Sources

Mobile Payment Markets in the UK

  • April 2017
    5 pages
  • Mobile Payment  

  • United Kingdom  

    Australia  

    Indonesia  

View report >

Payments Markets in the US - Forecast

  • April 2017
    7 pages
  • Payments  

  • United States  

View report >

Mobile Payment Industry in Africa

  • April 2017
    21 pages
  • Mobile Payment  

  • Africa  

    World  

    Kenya  

View report >

Global Atm Industry

28 days ago

Global Atm Industry

28 days ago

Related Market Segments :

Mobile Payment
Debit Card
Store Card
ATM
Credit Card

ref:plp2013

Reportlinker.com © Copyright 2017. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.