Asia Credit Cards Market Forecast to 2025: Ken Research

How Asia Cards and Payments Market Is Positioned?

In Asia, most of the countries such as India, Indonesia and others were dominated by cash almost a decade ago and have witnessed advancement towards digital transactions both in terms of a number of transactions and volume in recent years. Asian countries are making huge investments in digital technology in order to transform the financial industry most of which is in-house. The young population and millennials have been the major driver for an increase in the payments via credit cards as they are embracing advanced technology and new products thereby, helping the credit card users to move away from traditional methods of payments. The young population who are well versed with the existing banking infrastructure and smartphone technology in Asia are key reasons to gain a competitive advantage by delivering innovative services ahead of their

  • The total number of cards in circulation was witnessed to increase from ~ from 2013 to ~ in 2018, thus displaying a five-year CAGR of ~%. The competitive growth in the credit card industry of Asia was driven by deep client partnerships, strong cross-bordergrowth, significant long-term growth opportunities, and tailored strategies.
  • Banks have been highly enthusiastic about implementing new financial technology to reach and engage with their customers in order to promote the use of digital methods of payment throughout Asia.
  • Asia credit cards market remains highly competitive and attractive driving it towards a cashless economy. Banks have tightened regulations to address rising defaults therefore; credit card issuance fell sharply in the early years of the current decade. The growth in credit cards in circulation picked up for both personal and commercial cards in 2018, as banks also looked to increase their revenue from the commercial space.
  • Most of the countries such as India, South Korea, China, and others are being transformed into a cashless economy. The total transaction value showcased a growth of ~% in the year 2018 with transactions amounting to USD ~ billion. FinTech players look at developing apps to support credit card payments in Asia to increase the number of cards in circulation and eventually the number and value of transactions.

Credit Cards Market Size

Asian credit card issuers offer multi-branded cards with installment, use award, and loyalty-point features. Point-of-sale machines are found in almost all the stores around the continent, which has made cards as one of the most convenient methods of payment. The usage of cards has been steadily growing with the number of cards in circulation increased at a CAGR of ~% from 2013 to 2018.

Growth is majorly driven by usage amongst the younger population (about ~% of millennials aged 25-34 years tend to use credit cards more than any other age group). Low non-performing loans indicating healthy growth in credit card usage and low payment default rates. The credit card reward and loyalty program is the most significant growth driver for a surge in credit card transaction value and transaction volume. The card issuers and operators have been partnering with member merchants in order to increase the customer acquiring rate. The member merchants provide the cardholders with discounts on the purchases or opportunity to earn reward points which can be redeemed later on shopping/air ticket purchases and many more.

The advancement in technology – such as RIFD / contactless credit cards, chip, and pin cards have contributed to the increase in the Transaction Value. It has shown an absolute growth of ~% since 2013. The highest year on year growth was witnessed in the year 2018 of ~%, as people were more motivated to make credit card transactions because the card loyalty reward points program was on the rise by the issuing bank. Credit card transaction value increased from USD ~ million in 2013 to reach USD ~ million in the year 2018 at a CAGR of ~% during the review period 2013-2018.

Emerging markets in South Asia, on the other hand, is witnessing a slow transition from a cash-driven to a digital payment society. Smartphone-based mobile money services are slowly gaining momentum as part of the payments ecosystem. However, debit cards dominate the plastic card market, and the recent association with international payment networks for QR-based payments has paved the way for players to offer new solutions in this space.

Key Segments Covered:-

Credit cards

Value of transaction by Issuer and Operator

Volume of a transaction by Issuer and Operator

Number of Credit Cards in Circulation by Issuer and Operator

Commercial and Personal Credit Cards

Transactions at ATM and POS







South Korea



Other Countries (Vietnam, Thailand, Hong Kong, Taiwan and Rest)

Key Target Audience

Credit/ Debit Card Operator

Credit/ Debit Card Issuers

Prepaid Card Issuers/ Operators

Local/ Foreign Bank

Reward/ Loyalty Program Business Operators

Payment gateway provider

Credit/ Debit Card Issuer

POS Device Manufacturers

Debit/ Credit Card Manufacturing companies

ATM Manufacturing Entities

Regulatory Authorities

Time Period Captured in the Report:-

Historical Period: 2013-2018

Forecast Period: 2018-2025

Companies Covered in Asia Credit Card Market:-

Banks (Issuer)

HDFC, India

Bank Mandiri, Indonesia

Bank CIMB Niaga, Indonesia

UOB, Singapore

DBS, Singapore

Citibank BHD, Malaysia

Malaysian Banking, Malaysia

Shinhan Card, South Korea

KB Kookmin, South Korea

BDO Unibank, Philippines

Metropolitan Bank, Philippines

ICBC Bank, China

China Merchants Bank, China

JCB, Japan

Credit Saison, Japan

Others (SBI India, Bank CIMB Niaga Indonesia, Bank Mega, Citibank, HSBC Holdings Plc, Rizal Commercial Banking CORP (RCBC) and Rest)


Visa Inc.


American Express

Bank Central Asia

Union Pay International

Others (Shinhan Card, BC Card, Petron Corp, Taiwan Rakuten Card and Rest)

Key Topics Covered in the Report:-

MasterCard Asia Credit Cards Market Revenue Share

RuPay Performance in India

India Online Payment System Market

Credit Card Frauds in Asia

Personal and Commercial Credit Cards Market Asia

Contactless Credit Cards in Asia

NFC Credit Cards Market in Asia

Cost of Manufacturing a Credit Card

Fintech Adoption Credit Card Asia Market

Asia Credit Card Transaction Fees

Credit Card Transaction Failure in Asia

Credit Card Security in Asia

For Information Click On the Below Mentioned Link:-

Asia Credit Cards Market Research Report

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Ken Research

Ankur Gupta, Head Marketing & Communications