CARDS & PAYMENTS | Cesar Tordesillas, Macau

RMB credit cards surge highest in Macao

Macao's number of RMB cards out 648,881 personal credit cards surged by 39 percent from a year earlier.

According to the Monetary Authority of Macao Special Administrative Region, the number of Pataca cards, HKD cards and RMB cards were 470,751, 70,953 and 107,707, respectively.

Pataca cards and HKD cards grew 13.8 percent and 6.3 percent.

The RMB cards' upsurge of 39 percent was driven by a marked 41.2 percent growth of MOP/RMB dual-currency cards.

At the end of last December, credit card credit limit granted by banks in Macao reached MOP 10.8 billion (1.35 billion U.S. dollars), up 5.7 percent from the end of last September. Credit card receivables amounted to MOP 1.7 billion (212.5 million U.S. dollars), while the rollover amount totaled MOP 502.8 million (62.85 million U.S. dollars), accounting for 29.2 percent of credit card receivables, with the delinquency ratio of 0.61percent.

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