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Payments Snapshot in China - Coronavirus (COVID-19) Sector Impact

Payments Snapshot in China - Coronavirus (COVID-19) Sector Impact

Summary

GlobalData's Payments Snapshot in China: Coronavirus (COVID-19) Sector Impact analyzes China's payments market, with a focus on impact of coronavirus outbreak's on the economy and cards and payments industry. Based on our proprietary datasets, the snapshot provides a detailed comparison between pre COVID-19 forecast and revised forecasts of total payment card, debit card, and credit and charge card transactions by value and volume. It also offers information on measures taken by the government to combat coronavirus.

This report provides top-level market analysis and insights on the impact of coronavirus on the Chinese cards and payments industry, including -
- Pre COVID-19 forecast and revised forecast values for each market in the Chinese cards and payments industry, including debit, credit, and charge cards.
- Analysis on impact of coronavirus outbreak's on the Chinese economy.
- Information of various government regulations to combat coronavirus in China.

Scope

- China - which was the first country to be impacted by COVID-19 - is now on the path to recovery with few positive cases being reported, businesses gradually recommencing operations, and domestic travel resuming thanks to the government's stringent measures.
- The overall decline in consumer spending was partially offset by a rise in online spending, as wary consumers stayed at home and used online channels to purchase goods.
- Chinese consumers will shift from cash-based payments to digital payment tools, particularly non-contact tools (mostly mobile wallets in the Chinese market) - benefitting the likes of Alipay and WeChat Pay. Both are likely to do well in the long term as a result of this outbreak.

Reasons to Buy

- Make strategic decisions using top-level revised forecast data on the Chinese payment industry.
- Understand the key market trends and growth opportunities in the Chinese cards and payments industry.
- Receive a comprehensive insight into payments market in China.
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Payments Snapshot in China - Coronavirus (COVID-19) Sector Impact
Published By :GlobalData
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