Asia Pacific

In 2023, the credit cards category is again showing positive growth in all terms, cards circulation as well as volume and value transactions, as it did in the previous year. Credit card spending has recovered across categories. Holidays and the end…

Credit card is the leading cashless payment method in Japan, and is still responsible for the predominant share of cashless payment transaction volumes and value. Other digital payment instruments are also gaining popularity, but credit cards remain…

At the close of 2022, Taiwan witnessed a significant reshuffle in its credit card issuance landscape. The top five credit card issuers, ranked by the number of active cards, were Cathay United Bank with 5.77 million, CITIC Bank with 5.34 million, E…

Credit cards are also benefitting from the ongoing government and finance industry efforts to promote a cashless payment society. As such, we are seeing a robust performance in credit cards in 2023, thanks to a growing awareness among consumers about…

Since the reopening of borders in the fourth quarter of 2022, there has been a surge in enthusiasm among Hong Kong’s population to travel abroad after enduring three years of the pandemic. Residents are now showing a strong and sustained interest in…

In 2023, the debit cards category has again experienced positive growth in both volume and value transactions, as it did in the previous year. The increase in people’s mobility following the lifting of restrictions imposed to limit the spread of…

In the past, debit cards were not prevalent in Japan, with alternative payment methods such as credit cards or cash dominating the market. Furthermore, Japanese banks typically issued “cash cards” to their customers, which were primarily intended for…

Debit card transactions experienced a noticeable decline in transaction value in 2022, a trend that commenced during the pandemic in 2021. This decline was primarily attributed to the increased prevalence of digital wallet transactions and the…

Cashless payment trends are being boosted by both government and issuer initiatives in Vietnam, along with support from retailers in various industries and channels across the country. This, in turn, is helping to boost the performance of financial…

In 2023, overall demand for retail edible oils in China has weakened compared with 2022, with the expected volume and current value declines in this year primarily driven by the resumption of normal activities post-pandemic. Towards the end of 2022…

In 2023, the global supply chain of edible oil raw materials has faced significant disruptions due to climate change and geopolitical complexities, impacting availability in South Korea. The country's reliance on external sources has made it…

Edible oils continues to face challenges connected to inflationary pressures and supply chain restrictions, which are affecting different edible oils in different ways. For example, inflationary pressures are boosting value growth due to an increase…

Edible oils continues to face challenges caused by shortages of raw materials and supply chain disruptions, along with climatic impacts. As such and added to inflationary pressures, this is pushing up prices and supporting value sales, while retail…

Total card transactions in Hong Kong, along with electronic direct/ACH transactions and mobile payments, are recording double-digit growth rates in 2023 as consumption recovers from the pandemic. This is mainly being driven by overseas consumption…

Electronic payment has been the fastest growing mode of payment in Indonesia in 2023. The very high use of digital wallets, QRIS (Quick Response Code Indonesia Standard - a QR code standard developed by Bank Indonesia and Indonesian Payment System…

Japan’s transition to a cashless society has been accelerating in 2023. The Ministry of Economy, Trade and Industry (METI) developed the “Cashless Vision” in 2018, aiming to increase the cashless payment ratio to 40% by 2025. Due to COVID-19,…

In 2023, electronic and mobile payments have taken centre stage, greatly reducing reliance on cash transactions in Taiwan. Local residents have enthusiastically adopted various digital payment options, particularly digital wallets, which have emerged…

2023 is witnessing a substantial increase in both the volume and value of financial cards overall, primarily driven by government initiatives aimed at encouraging cashless payments. Debit cards, credit cards, and pre-paid cards are all seeing healthy…

Meals and soups is set to see a noticeable slowdown in its retail current value growth rate in 2023 compared with 2022, and is expected to turn to retail volume decline. The primary reason for this is the removal of the zero-COVID policy, which has…

Category players are customising their products to cater for various formats demanded by consumers sensitive to new lifestyle trends, such as South Korea's millennials and Generation Z, to maximise convenience. For instance, one of the habits among…