Hong Kong’s Payment Card Usage Sees Significant Growth in Q2 2025

The Hong Kong Monetary Authority (HKMA) has released its latest statistics on payment cards for the second quarter of 2025, highlighting a substantial increase in credit card usage. The data, published on September 19, 2025, reflects the ongoing trend of rising card transactions in the region, according to the HKMA.

Credit Card Circulation and Transactions

The total number of credit cards in circulation reached 22.8 million by the end of Q2 2025, marking a 4.2% increase from the previous quarter and a 14.6% rise compared to the same period last year. This growth underscores the expanding reliance on credit cards for various transactions in Hong Kong.

Credit card transactions also surged, with 360.1 million transactions recorded during the quarter, an 8.3% increase from Q1 2025 and an 11.8% rise year-over-year. The total transaction value amounted to HK$268.4 billion, reflecting a slight 2.1% decrease from the previous quarter but a 12.2% increase compared to Q2 2024.

Breakdown of Transaction Values

The HKMA report detailed that out of the total transaction value, HK$168.1 billion (62.7%) was attributed to retail spending within Hong Kong. Overseas retail spending accounted for HK$91.2 billion (34.0%), while cash advances constituted HK$9.0 billion (3.4%). These figures highlight the diverse spending patterns of cardholders and the significant role of cross-border transactions.

Debit Card Usage

Although specific figures for debit card circulation were not provided due to overlapping brands, the statistics indicate a dynamic shift in debit card transactions. The total number of debit card transactions related to retail sales and bill payments increased by 6.2% to 57.86 million in Q2 2025. However, the total transaction value saw a decrease of 9.9% to HK$66.5 billion compared to the previous quarter, with a marginal year-over-year decline of 0.5%.

Contributing Factors and Industry Transparency

The HKMA has been publishing these statistics quarterly since June 2010, aiming to enhance transparency in the payment card industry, aligning with international standards. The report suggests that seasonal factors and the general economic environment significantly influence transaction trends, making them prone to fluctuations. The comprehensive data includes contributions from eight major payment card scheme operators, such as Visa, MasterCard, and UnionPay, among others.

For further details, the full report is available on the Hong Kong Monetary Authority website.

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