Mobile payment transactions reach MOP6.3b in Q3

The number of transactions carried out by local mobile payment tools increased by 13.8% from the previous year to 61.4 million in the third quarter of this year. The transaction value totaled MOP6.3 billion, a growth of 18.6% from a year ago.

At end-September this year, the number of mobile payment terminals and QR code signs stood at 92,900, an increase of 10.5% year-on-year.

Recently, local payment service provider MPay announced an agreement had been made with Chinese internet multinational company Alibaba’s shopping site Taobao to allow Macau shoppers to settle bills using MPay.

Statistics released today by the Monetary Authority of Macao, reveal the total number of personal credit cards issued by banks in Macau stood at 1,668,934 at end-September this year, equivalent to a year-on-year increase of 10.5%. The total number of debit cards issued by banks in the city reached 2,095,845, up 9.1% from the preceding year.

Also at end-September this year, credit card credit limit granted by banks was MOP47.3 billion, a rise of 5.6% from end-September 2021. Credit card receivables amounted to MOP2.4 billion.

For the third quarter of this year, the credit card turnover totaled MOP4.5 billion, a decline of 7.8% year-on-year. The cash advance turnover was MOP129.6 million, occupying 2.9% of total credit card turnover. LV