Chinese Credit Card Market to Grow Over 25%CAGR

Our research report “Global Credit Card Industry – Emerging Markets”, shows that the emerging economies around the world have been continuously witnessing remarkable growth in their credit card market for the past few years, driven by the growing number of middle class population. We have found that, China is encouraging non-cash payment options such as credit cards, which feature overdrafts, to boost domestic consumption. Plastic money (bank cards) is expected to be the second most lucrative retail credit business for lenders by 2013, following individual mortgages. With growing consumer spending, we expect that the total number of credit cards in China will grow at a CAGR of around 26% during 2010-2013.

 

We have also found that the low level of credit card penetration has been fostering the growth in the credit card markets of the countries studied in our research report. The credit card penetration in India, for instance, stood at around 2%-2.5% at 2008 end, thus indicating vast room for growth potential in the coming few years.

 

Increasing usage of Internet media (particularly for online shopping) has emerged as one of the recent trends propelling the growth in usage of credit cards across the emerging markets. Besides, the countries continue to experience rapid improvement in the credit card infrastructure, with more and more retailers or merchants now accepting credit card payments at their point-of-sale terminals.

 

Our research finds that in countries like Brazil, South Korea, and Mexico, the purchases made through credit cards have shown a positive growth trend during the past years. In this regard, we have done extensive analysis of the credit card market of key countries across the world. The countries that have been covered in our report include: China, India, South Korea, Russia, Poland, Brazil, and Mexico. The detailed country-wise performance, including drivers, opportunities, challenges, and future outlook, has been discussed in their respective sections.

For more information visit: http://www.rncos.com/Report/IM167.htm