The Hong Kong Monetary Authority released fourth-quarter 2024 statistics on payment cards issued in Hong Kong, showing continued growth in credit card circulation and higher credit card spending and transaction volumes. Debit card activity for retail sales and bill payments increased in transaction counts, while total value was broadly unchanged year on year. By end-Q4 2024, credit cards in circulation reached 20.94 million, up 3.2% quarter on quarter and 6.4% year on year. Total credit card transactions rose to 339.27 million (up 3.1% quarter on quarter and 11.9% year on year) with a total value of HK$271.4 billion (up 9.1% quarter on quarter and 10.8% year on year), comprising HK$182.8 billion (67.4%) retail spending in Hong Kong, HK$79.3 billion (29.2%) retail spending overseas and HK$9.3 billion (3.4%) cash advances. The HKMA did not report the total number of debit cards in circulation due to overlapping debit card brands on a single card; however, debit card transactions for retail sales and bill payments increased to 55.50 million (up 2.7% quarter on quarter and 14.1% year on year) and HK$73.0 billion in value (up 6.6% quarter on quarter and down 0.2% year on year).
Hong Kong Monetary Authority2025-03-21
Hong Kong Monetary Authority publishes Q4 2024 payment card statistics with credit card transactions totalling HK$271.4 billion
The Hong Kong Monetary Authority reported a rise in credit card circulation to 20.94 million by Q4 2024, with transaction volumes reaching 339.27 million and a total value of HK$271.4 billion. Debit card transactions for retail sales and bill payments increased to 55.50 million, though the total value remained largely unchanged year on year at HK$73.0 billion.