Hong Kong Sees Growth in Credit Card Circulation in Q1 2025

The Hong Kong Monetary Authority (HKMA) has published its latest statistics on payment cards issued in Hong Kong, revealing a notable increase in credit card circulation for the first quarter of 2025. According to the HKMA, the total number of credit cards in circulation reached 21.88 million by the end of the quarter, marking a 4.5% rise from the previous quarter and a substantial 9.5% increase from the same period last year.

Credit Card Transactions and Value

The reported data also highlights the trends in credit card transactions, which are subject to seasonal and economic fluctuations. The total number of credit card transactions recorded was 332.44 million, reflecting a 2.0% decrease from the prior quarter but a 10.0% increase compared to Q1 2024. The total value of these transactions amounted to HK$274.1 billion, with a modest increase of 1.0% from the previous quarter and an 8.4% rise year-on-year. Of this value, HK$186.1 billion was attributed to retail spending within Hong Kong, HK$79.0 billion to overseas retail spending, and HK$9.0 billion to cash advances.

Debit Card Transactions

While detailed figures for debit card circulation are unavailable due to overlapping brands on single cards, the statistics show that the total number of debit card transactions related to retail sales and bill payments decreased by 1.8% to 54.48 million in Q1 2025. However, the total transaction value rose by 1.1% to HK$73.8 billion. Compared to the same quarter in 2024, there was a notable 12.8% increase in transaction numbers, although the transaction value saw a 2.0% decline.

Industry Context

The HKMA’s quarterly publication of payment card statistics, initiated in June 2010, aims to enhance the transparency of Hong Kong’s payment card industry in alignment with international standards. The data encompasses information from both authorized and non-authorized institutions under the schemes of eight major payment card operators, including American Express, Visa, and MasterCard, among others.

For further details, the full report and annexes can be accessed on the Hong Kong Monetary Authority website.

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