China Cards and Payments: Opportunities and Risks to 2030

China Cards and Payments: Opportunities and Risks to 2030

Summary

The analyst’s ‘China Cards and Payments: Opportunities and Risks to 2030' report provides detailed analysis of market trends in China cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry including cards, credit transfer, cash, direct debits and cheques during the review-period (2022-26e).

The report also analyzes various payment card markets operating in the industry and provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2026e-30f). It also offers information on the country's competitive landscape, including market shares of issuers and schemes.

The report brings together the analyst’s research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers detailed regulatory policies and recent changes in regulatory structure.

The analyst’s ‘China Cards and Payments: Opportunities and Risks to 2030' report provides top-level market analysis, information and insights into China cards and payments industry, including:

• Current and forecast values for each market in China cards and payments industry, including debit, credit and charge cards.
• Detailed insights into payment instruments including cards, credit transfer, cash, direct debits and cheques. It also, includes an overview of the country's key alternative payment instruments.
• Ecommerce market analysis.
• Analysis of various market drivers and regulations governing China cards and payments industry.
• Detailed analysis of strategies adopted by banks and other institutions to market debit, credit and charge cards.
• Comprehensive analysis of consumer attitudes and buying preferences for cards.
• The competitive landscape of China cards and payments industry.

Key Highlights

• In November 2025, the PBOC—together with the National Development and Reform Commission and the National Financial Regulatory Administration—issued the Regulations on Cash Payment Service which mandates that all service providers, public agencies, and commercial entities must accept legal tender in cash (banknotes and coins). Merchants must not reject cash payments, impose discriminatory measures against cash use or create obstacles (such as fees or limiting conditions) in accepting cash. This regulation came into effect on February 1, 2026.
• In June 2026, Indonesia and China officially commenced the full operation of cross-border QR code payment between their respective national payment systems; Indonesia’s Quick Response Code Indonesian Standard and China’s UnionPay and Alipay QR systems. This interoperability enables Chinese visitors to make purchases in Indonesia using their preferred payment platforms (such as UnionPay App, Alipay or bank apps connected through UnionPay MobileWallet Connect). On a similar note, in May 2026, China's Tencent WeChat Pay partnered with PayPal to enable PayPal users to make QR code payments at Chinese merchants through WeChat Pay’s network.
• In July 2026, the State Administration for Market Regulation and the Ministry of Commerce jointly released a draft amendment to the 2019 E-Commerce Law for public consultation. The draft expands the Law’s scope beyond marketplace operators to the wider platform economy, including food delivery and instant commerce. It also proposes a regulatory framework for multi-sector businesses to promote more-consistent oversight of online and offline commercial activities and aims to enhance coordination between central and local enforcement authorities.

Scope

• Card market size in terms of number of cards, value and volume of transactions in China along with detailed card segmentation of debit, credit and charge cards available in the country.
• Market sizing and analysis of major payment instruments including cards, credit transfer, cash, direct debits and cheques.
• Payment market trends and growth for both historical and forecast period
• Competitor analysis with detailed insights into leading card issuers and schemes.
• Comprehensive analysis of consumer attitudes and buying preferences for cards.
• A detailed snapshot of country's key alternative payment brands.

Reasons to Buy

• Make strategic business decisions, using top-level historic and forecast market data, related to China cards and payments industry and each market within it.
• Understand the key market trends and growth opportunities in China cards and payments industry.
• Assess the competitive dynamics in China cards and payments industry.
• Gain insights into marketing strategies used for various card types in China.
• Gain insights into key regulations governing the China cards and payments industry.