According to statistics released today (7 August) by the Monetary Authority of Macao, in the second quarter of 2024, the number and the value of transactions of local mobile payment tools both witnessed annual growth. Meanwhile, the credit card and the debit card turnover both increased from a year ago.
Mobile payment
In the second quarter of 2024, the number of transactions carried out by local mobile payment tools increased by 15.9% year-on-year to 85.6 million. The transaction value totalled MOP7.2 billion, an increment of 5.3% from the preceding year. The average amount per transaction was MOP83.8. At end-June 2024, the number of mobile payment terminals and QR code signs amounted to 102,667.
Credit card credit limit granted and delinquency
At end-June 2024, credit card credit limit granted by banks in Macao was MOP49.4 billion, equivalent to an increase of 1.8% from a year earlier. Credit card receivables amounted to MOP2.8 billion, of which the rollover amount totalled MOP792.3 million, representing 28.5% 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.
Payment card turnover and repayment
For the second quarter of 2024, the credit card turnover totalled MOP5.9 billion, a growth of 1.1% from the previous year. The cash advance turnover was MOP156.3 million, occupying 2.6% of total credit card turnover. The number of credit card transactions marked 11.2 million, up 23.1% on an annual basis. Credit card repayments, in which payments for interest and fees are included, rose year-on-year by 1.7% to MOP5.9 billion. Concurrently, the number of debit card transactions other than cash withdrawals was 961.7 thousand and the debit card turnover totalled MOP589.6 million.
