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Payment methods in Hong Kong
Here are the top takeaways you need to know about the Hong Kong e-commerce market:
- With a population of just over 7 million, Hong Kong’s ecommerce market is worth US$22 billion, with each shopper spending over US$3,000 a year with online merchants.
- The average online shopper in Hong Kong spends US$3,083 with e-commerce merchants in a year, rising to US$4,304 by 2027.
- Shoppers in the city state use mobile devices to complete 62% of their online purchases, up from 57% in 2020.
- In an average year, shoppers in Hong Kong buy US$4 billion worth of goods and services from merchants in different jurisdictions.
- Hong Kong shoppers pay for 44% of online purchase with cards and 3% with cash. For the rest, they use digital payment methods.
Population
Online Population
B2C E-commerce
Banked Population
Credit Card Population
E-commerce of Total Retail
Payment Method Breakdown
- Card 44%
- Cash 3%
- Bank Transfer 15%
- E-Wallet 31%
- Other 7%
[{"label":"Card","value":"44"},{"label":"Cash","value":"3"},{"label":"Bank Transfer","value":"15"},{"label":"E-Wallet","value":"31"},{"label":"Other","value":"7"}]
Payment Methods in Hong Kong
Card Scheme Breakdown
- Visa 16%
- Mastercard 9%
- American Express 6%
- Local schemes 0%
- Other 69%
[{"label":"Visa","value":"16"},{"label":"Mastercard","value":"9"},{"label":"American Express","value":"6"},{"label":"Local schemes","value":"0"},{"label":"Other","value":"69"}]
Cross-Border E-Commerce
77
Online shoppers who have shopped cross-border
19
Cross-border proportion of total e-commerce
3.7 bn
$US
Value of cross-border e-commerce
Top cross-border shopping origin markets