Hong Kong payment card circulation rises 7.0 percent

Hong Kong's credit card market expanded significantly in the first quarter of 2026, with the total number of cards in circulation reaching 29.18 million.

This represents a robust 7.0 percent increase from the previous quarter and a substantial 33.4 percent rise year-on-year.

While the number of credit card transactions for Q1/2026 totaled 384.94 million, marking a 2.3 percent quarterly decrease, it still shows a 15.8 percent increase compared to the same period in 2025.

The total value of these transactions stood at HK$311.3 billion, a marginal 0.1 percent decrease from the prior quarter but a solid 13.6 percent increase year-on-year.

Retail spending in Hong Kong accounted for HK$211.5 billion (67.9%) of the total value, with overseas retail spending at HK$90.3 billion (29.0%) and cash advances at HK$9.5 billion (3.1%).

These trends are influenced by seasonal factors and the broader economic environment.

The total number of debit cards in circulation remains undisclosed due to the complexity of overlapping brands on single cards.

Debit card transaction volumes, like credit cards, are subject to seasonal fluctuations.

For Q1/2026, the total number of debit card transactions for retail sales and bills payments decreased by 2.0 percent quarterly to 52.65 million.

When compared to the same period in 2025, this represents a 3.4 percent decline.

Conversely, the total value of these transactions increased by 1.7 percent quarterly to HK$70.8 billion, though it dropped by 4.1 percent year-on-year.

The HKMA has been publishing these payment card statistics quarterly since June 2010 to enhance transparency in the local payment card industry, aligning with international best practices.