According to statistics released today (8 May) by the Monetary Authority of Macao, in the first quarter of 2024, the number and the value of transactions of local mobile payment tools both increased on a quarterly basis. On the other hand, the credit card turnover decreased whereas the debit card turnover witnessed growth.
Mobile payment
In the first quarter of 2024, the number of transactions carried out by local mobile payment tools increased by 0.6% quarter-on-quarter to 81.0 million. The transaction value totalled MOP7.3 billion, an increment of 2.4% from the preceding quarter. The average amount per transaction was MOP90.2. At end-March 2024, the number of mobile payment terminals and QR code signs amounted to 102,146.
Credit card credit limit granted and delinquency
At end-March 2024, credit card credit limit granted by banks in Macao was MOP49.5 billion, equivalent to an increase of 0.3% from a quarter earlier. Credit card receivables amounted to MOP2.7 billion, of which the rollover amount totalled MOP779.0 million, representing 29.4% 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 2.9% when compared with end-2023.
Payment card turnover and repayment
For the first quarter of 2024, the credit card turnover totalled MOP5.9 billion, a drop of 5.8% from the previous quarter. The cash advance turnover was MOP160.4 million, occupying 2.7% of total credit card turnover. The number of credit card transactions marked 10.7 million, down 3.3% on a quarterly basis. Credit card repayments, in which payments for interest and fees are included, decreased quarter-on-quarter by 2.1% to MOP6.2 billion. Concurrently, the number of debit card transactions other than cash withdrawals was 828.3 thousand and the debit card turnover totalled MOP851.0 million.