Credit card circulation rises 36.1 percent to 31.03 million
The Hong Kong Monetary Authority reported that credit cards in circulation reached 31.03 million at the end of the second quarter of 2026. Total credit card transaction value rose 6.8 percent year-on-year to HK$286.5 billion.
Local retail anchors card turnover
Total credit cards in circulation rose 6.3 percent from the prior quarter and 36.1 percent year-on-year to 31.03 million at the end of June 2026.
Cardholders generated 403.94 million transactions, up 4.9 percent from the first quarter and 12.2 percent higher than the second quarter of 2025.
Total credit card transaction value reached HK$286.5 billion, marking an 8.0 percent decrease from the previous quarter but a 6.8 percent increase compared to the same period in 2025.
Domestic retail spending accounted for HK$186.7 billion or 65.2 percent of the total value.
Overseas retail transactions contributed HK$91.1 billion or 31.8 percent, while cash advances totaled HK$8.8 billion or 3.1 percent.
Debit volumes contract across the board
Debit card transactions for retail sales and bill payments totaled 55.39 million in the second quarter, rising 5.2 percent on a quarterly basis but declining 4.3 percent from the previous year.
The total value of debit card transactions dropped 13.6 percent quarter-on-quarter and 8.0 percent year-on-year to HK$61.1 billion.
The figures reflect data from eight payment card scheme operators, including Visa, MasterCard, UnionPay, and EPSCO, compiled quarterly since June 2010 to monitor payment trends.
Card growth masks retail fatigue
Surging card issuance contrasts sharply with the quarterly slump in transaction turnover.
While overseas spending stays resilient, shrinking debit volumes point to spending fatigue at home.
Expanding card numbers mean little for issuers if average ticket sizes continue to contract.