China Payments Industry Forecast Snapshot: Coronavirus (COVID-19) Sector Impact

China Payments Industry Forecast Snapshot: Coronavirus (COVID-19) Sector Impact

Summary

GlobalData’s 'COVID-19 Impact on the Payments Industry: China Forecast Snapshot' 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 and 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, being at the epicenter of the outbreak, was the worst hit so far with overall, 81,782 confirmed cases.
- The overall decline in consumer spending in China will partially be offset by a rise in online spending.
- Consumers will shift from cash-based payments to digital payment tools, particularly non-contact tools (mostly mobile wallets in the Chinese market).

Reasons to Buy

- Make strategic decisions using top-level revised forecast data on 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.