Global Credit Cards Report 2020: Everything with a single swipe –understanding global credit card trends

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September 2020

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R F I G R O U P – G L O B A L C R E D I T C A R D S R E P O R T

1. Research Methodology

2. Focus area one: Credit cards

▪ Usage of credit cards

▪ Barriers to credit cards

▪ Driving frequent card usage

▪ Future intentions

3. Focus area two: Contactless cards and mobile wallets

▪ Usage of contactless cards

▪ Appeal of mobile wallets

▪ Mobile wallet preferences

4. Conclusion

▪ Key Insights

▪ Opportunities

Contents

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R F I G R O U P – G L O B A L C R E D I T C A R D S R E P O R T

• The data used in this presentation is sourced from surveys conducted by RFi Group across 15 markets

during 2019.

• In all markets, except for Egypt and the UAE, over 2,000 consumers were interviewed online. In Egypt and

the UAE, 1,000 respondents were interviewed face-to-face.

• RFi Group market surveys interview the banked population in each market. To qualify as ‘banked’

respondents must hold a minimum of one banking product with a financial institution in their local market.

• The survey is nationally representative of each market, and quotas were applied to ensure respondents

representative of each market’s population by age, gender, region and income.

Methodology

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Credit Cards

• Usage of credit cards

• Barriers to credit cards

• Driving frequent card usage

• Future intentions

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R F I G R O U P – G L O B A L C R E D I T C A R D S R E P O R T

Which of the following financial products do you hold?Credit cards

62%

83%

64% 65%67%

83%

52%

44%

50%

72%75%

81%

71%

61%

71%67%

Australia Canada China Egypt France Hong

Kong

India Indonesia Malaysia Mexico Singapore Taiwan UAE UK US Global

Average

18H1 18H2 19H1

Source: RFi Group survey of 17,000 consumers across 15 different markets

Credit cards are most popular in Canada, Hong Kong and Taiwan.

Where are credit cards seeing the greatest popularity?

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R F I G R O U P – G L O B A L C R E D I T C A R D S R E P O R T

48%

9%

16%

6% 24%

26%7%

I don't trust myself with a credit card

I don’t like debt

I find it easier to keep track of my finances

I don't qualify for a credit card

I prefer the instant cash-back offer of my

debit card to credit card reward programs

I think applying for a credit card would be too time consuming

I am too young for a credit card

Why do you have a debit card and not a credit card?Global Average

61%

39%59%

46%29%

49% 52% 47% 45%61%

44%

Australia Canada China Egypt India Indonesia Malaysia Singapore Taiwan UK US

Why do you have a debit card and not a credit card?

‘I don’t like debt’ – By Market

Source: RFi Group survey of 17,000 consumers across 15 different markets

Just under half of debit card holders who do not own a credit card do so because they do not like being in debt. This significantly increases in Australia, China and the UK.

Debit cards vs. Credit cards

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Contactless cards and mobile wallets

• Usage of contactless cards

• Appeal of mobile wallets

• Mobile wallet preferences

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R F I G R O U P – G L O B A L C R E D I T C A R D S R E P O R T

19% 20%

61%

15%

24%

62% 63%

24%21%

26%

33%

Australia Canada China France Hong Kong India Mexico Singapore UK US Global Average

2016 2017 2018 2019

% of consumers who consider mobile wallets highly appealing (8+/10)

Source: RFi Group survey of 17,000 consumers across 15 different markets

Appeal of mobile wallets has picked up after a decrease in 2018, although their popularity remains strongest in emerging markets, where contactless is less prevalent.

Appeal of mobile wallets

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Intelligence to bank on

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