According to statistics released today (7 November) by the Monetary Authority of Macao, in the third quarter of 2023, the number and the value of transactions of local mobile payment tools both witnessed growth on a quarterly basis. Meanwhile, the total numbers of personal credit cards and debit cards issued by banks in Macao increased from the previous quarter. The credit card turnover rose whereas the debit card turnover dropped.
Mobile payment
In the third quarter of 2023, the number of transactions carried out by local mobile payment tools increased by 4.0% quarter-to-quarter to 76.9 million. The transaction value totalled MOP7.0 billion, an increment of 3.1% from the preceding quarter. The average amount per transaction was MOP91.4. At end-September 2023, the number of mobile payment terminals and QR code signs amounted to 100,144, an increase of 0.9% from end-June 2023.
Payment cards issued
The total number of personal credit cards issued by banks in Macao was 1,724,672 at end-September 2023, up 0.3% from the previous quarter. The total number of debit cards issued by banks in Macao rose by 2.7% on a quarterly basis to 2,257,462.
Credit limit granted and delinquency
At end-September 2023, credit card credit limit granted by banks in Macao was MOP49.1 billion, equivalent to an increase of 1.2% from a quarter earlier. Credit card receivables amounted to MOP2.7 billion, of which the rollover amount totalled MOP762.4 million, representing 28.3% of credit card receivables. Meanwhile, the delinquency ratio, i.e. the ratio of delinquent amount overdue for more than three months to credit card receivables, edged up 0.1 percentage point to 2.7% when compared with end-June 2023.
Turnover and repayment
For the third quarter of 2023, the credit card turnover totalled MOP6.2 billion, a growth of 4.6% from the previous quarter. The cash advance turnover was MOP163.8 million, occupying 2.7% of total credit card turnover. The number of credit card transactions marked 10.2 million, up 11.6% on a quarterly basis. Credit card repayments, in which payments for interest and fees are included, rose quarter-to-quarter by 11.7% to MOP6.5 billion. Concurrently, the number of debit card transactions other than cash withdrawals and the debit card turnover totalled 469.3 thousand and MOP565.7 million respectively.
