Saturday, February 16, 2013

Credit Cards in China will grow at a CAGR of 24% during 2012-2015

China’s credit card market has been witnessing significant growth from the past few years with robust expansion in its economy. The credit cards are being increasingly used in numerous shopping malls and various online portals that carry luxury or world-class brands of consumer goods. This is mainly due to the advancement of technology in bank card industry, which is bringing transparency, ease, and security in the use of these cards. In future, with increasing trend of online shopping and other benefits, like reward points and discounts, offered by merchants as well as banks to attract customers, the number of credit cards are expected to grow significantly. Owing to all these factors, it is anticipated that total number of credit cards in China will grow at a CAGR of 24% during 2012-2015.

To Know More - China Credit Card Market Forecast to 2015

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