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China’s credit and charge card payments market is gearing up for a rebound, with a projected growth of 2.4%, potentially reaching an impressive CNY38.4 trillion (approximately $5.3 trillion) by 2025. This forecast comes from GlobalData, a leading data and…
In a remarkable shift towards digital finance, South Korea’s payment card market—encompassing both point-of-sale (POS) payments and ATM withdrawals—is projected to grow by 3.8%, reaching an impressive $1 trillion (KRW1.4 quadrillion) by 2025, as revealed in a…
China unveiled tighter rules late on Thursday to better regulate its $1.3 trillion credit card industry, urging lenders to adopt a “prudent” growth strategy, and monitor risks more closely. Banks are also barred from using the number of cards issued or market…
Mastercard’s joint venture in China has been the green light given by the People’s Bank of China for it to begin formal preparations to set up a domestic bankcard clearing institution in China. Mastercard’s joint venture with NetsUnion Clearing will need to…
Despite the dominance of cash, card payments volume in Hong Kong is expected to surpass one billion in 2020, says GlobalData. The convenience of electronic payments, robust payment infrastructure and the emergence of contactless payments are expected to drive…
Visa will be buying privately held financial technology startup Plaid in a $5.3 billion deal, according to a statement from the payments processor. Visa and rival Mastercard had invested in Plaid in a $250 million series C funding round in 2018 that…
In the twelve months to March 2019, almost half a million Australians got rid of their credit cards, with the total number of credit cards in the country falling to 14.6 million compared to the 15 million a year prior. This trend, highlighted in illion’s…
Retail spending on electronic cards rose in April as Kiwis took advantage of the extended holiday period to eat out and take holidays away from home. Card spending in April rose 0.6 percent seasonally adjusted after a 0.2 percent decrease in March, according…
