Noida, India (PressExposure) January 05, 2010 -- RNCOS, in its recent report âChina Credit Card Market Outlook to 2013â, opines that credit card market in China has been able to weather the effect of global financial crisis well. The number of credit cards in circulation is expected to witness a CAGR of close to 26% during 2010-2013. Tier-I and tier-II cities are expected to account for majority of growth, leaving tier-III cities and rural areas mostly untapped.
Therefore, it is quite evident that China offers a strong growth space for credit card companies in geographical areas other than the main cities. In fact, it is tier-III cities and rural areas, which are going to decide the long-term future of Chinese card market. So, it is highly advisable for the country to consider development of low-cost, non-cash payment instruments, like credit and debit cards, in rural areas vital to increase rural spending and fill the wide wealth gap between rural and urban areas.
âChina Credit Card Market Outlook to 2013â provides an extensive research and rational analysis along with reliable statistics of the credit card market in China. It also supplements the core credit card statistics with the information on important payment card facilitators like ATMs and POS terminals installed in the country. Moreover, the report has thoroughly examined the emerging market trends and developments like emergence of EMV compliant cards, consumer shift towards e shopping, etc.
Additionally, the report has also identified the key players and their market share in the credit card market to give clients better insight of credit card market in China. It has also analyzes various initiatives taken by Chinese government to promote credit cards and their impact on the market. Most importantly, the report also features future outlook of credit market considering the positive and negative impact of reasonable and accountable factors, which will really prove decisive for the new entrants in the credit market of China.
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