Dallas, Texas (PRWEB) January 18, 2013
Financial cards in circulation growth rates are declining in 2012. Due to the economic slowdown and soaring inflation over the review period, banks in China have shifted their focus from acquiring new customers to customer retention and profitability. Bank card transactions are increasing strongly in both volume and value terms thanks to the further penetration of credit cards and debit cards in China.
In financial cards and payments, indicators such as the number of cards, number of transactions and retail value showed dynamic growth during 2012. Greater confidence, increasing purchasing power and the availability of more products and promotions explain the reactivation of the market. There was a strong increase in the number of transactions, whilst the number of cards did not increase as rapidly in 2012.
Since a small slowdown during 2008-2009, the financial cards and payments market has seen accelerated growth in the number of transactions and retail value of total cards transactions, with double-digit growth in both categories again seen in 2012. The number of transactions grew at an even faster rate than it had in the previous year, which is attributed to continuous changes in consumer behavior and the launch of contactless payment cards during this year.
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Product coverage: Financial Cards in Circulation, Transactions and data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.
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