Urbanization and rising online transaction to boost the Credit Card market in China, finds Netscribes

Netscribes (India) Pvt. Ltd. launches Credit Card Market in China 2011 report covering a market with strong growth potential. The report is part of Netscribes' Financial Services Industry Series. End Quote

(1888PressRelease) October 04, 2011 - Netscribes (India) Pvt. Ltd., a knowledge consulting solutions company, announces the launch of its report Credit Card Market in China 2011. Changes in government regulations towards preventing the misuse of credit cards and growth in the middle class is culminating into a large number of users.

The report begins with an introduction to credit cards as a medium of payment as well as offers timeline with respect to the evolution of credit cards in the China market. This is followed by an overview of the global credit card market providing segmented share across brands. The section provides information about the market size and growth as well as the rise in the total number of bank cards issued in China. This is followed by figures for growth in credit card turnover, consumer spending via credit card as well as the growth in rise in pretax profit per credit card. The card payment cycle depicts the various payment systems including data processing as well as financial settlement. Traditional stakeholders in the card payment cycle as well as the participants in the card payment cycle have been highlighted.

Market growth drivers include the huge population base and accelerating urbanization, China's young population, rising middle class and increasing income, changing lifestyle and rising acceptance of credit cards as a mode of payment and rise in online payments. The major barriers that the market faces include savings oriented consumer base, bad debt which is continually on the rise, the misuse of credit cards, foreign entrants facing difficulties while looking to expand in the Chinese credit card market and the emergence of alternative mode of payments.

Trends in the market include further outsourcing of non-core businesses, introduction of the EMV payment standard cards, technological innovation in the form of contactless credit cards, Octopus cards and management via consumer management systems. The government has also been considering policy towards creating a growing market. Initiatives highlighted in the report include new measures to protect the credit card holders, strict consequences faced for violation, China Banking Regulatory Commission updating credit card rules to prevent credit card misuse.

The competition section outlays the competitive landscape of the market in China and covers the domestic and foreign players existing in the market. This section provides the market share of players in the credit card transaction process market as well as outlays comparison for the transaction process structure. It includes information regarding the loans and advances on credit cards as well as the number of credit cards in circulation for the major participants in the market. A matrix covers the types of credit cards issued by players. The report also features brief profiles of major domestic and foreign players in the market and a snapshot of their corporation, financial performance and business highlights, providing an insight into the existing competitive scenario. The report concludes with a key takeaway section and key recent developments.

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