Credit card usage in Hong Kong rose sharply in the third quarter of 2025, with both the number of cards in circulation and transaction volumes climbing, while debit card activity declined, data released by the territory’s central banking authority showed.
Figures published by the Hong Kong Monetary Authority (HKMA) showed the total number of credit cards in circulation reached 25.08 million by the end of the third quarter, up 10.0% from the previous quarter and 23.6% from a year earlier.
Total credit card transactions, including retail purchases and cash advances, rose to 382.61 million during the quarter, representing a 6.2% increase from the previous three months and a 16.3% rise from the same period last year.
The total value of those transactions reached HK$285.6 billion, up 6.4% quarter on quarter and 14.8% year on year.
Retail spending in Hong Kong accounted for HK$173.3 billion, or 60.7% of the total transaction value, while overseas retail spending amounted to HK$103.1 billion, or 36.1%.
Cash advances made up a relatively small share, totalling HK$9.1 billion, or 3.2%. By contrast, debit card activity weakened during the quarter.
The total number of debit card transactions related to retail sales and bill payments fell 9.6% from the previous quarter to 52.31 million, while the total transaction value declined 5.6% to HK$62.7 billion.
Compared with the same period in 2024, debit card transaction volumes dropped 3.2% and the total value fell 8.3%.
The HKMA noted that the total number of debit cards in circulation is not available due to overlapping debit card brands on individual cards, and cautioned that credit and debit card retail figures should not be combined because of the risk of double counting.
The widening gap between credit and debit trends suggests consumers and visitors are leaning more on credit lines and card rewards for day-to-day purchases, particularly for cross-border spending, as travel normalises.
The large share of overseas retail spending also points to a continued recovery in outbound consumption.
