Mobile payments reach MOP6.4b in Q2

The transaction values of local mobile payment tools has increased by 7.6% by quarter-to-quarter this year, reaching MOP6.4 billion, according to the data published by the Monetary Authority of Macao (AMCM).

The number of transactions carried out by local mobile payment tools grew by 7.6% from the previous quarter to 68.6 million in the second quarter of 2022. The transaction value reached MOP6.4 billion, up 7.6% from the first quarter of 2022, according to the AMCM.

At the end of June in 2022, the number of mobile payment terminals and QR code signs totaled 93,200, a rise of 0.7% quarter-to-quarter.

Concerning payment cards, at the end of June in 2022, the total number of personal credit cards issued by banks stood at 1,662,136, representing an increase of 3.5%, from the previous quarter.

Meanwhile, the number of debit card transactions other than cash withdrawals declined by 16.4% from the previous quarter to 347,700, with debit card turnover falling 22.1% to MOP694.9 million.

At the end of June in 2022, the credit card credit limit granted by banks reached MOP47.8 billion, up 1.7% from end of March. Credit card receivables amounted to MOP2.3 billion.

The delinquency ratio, i.e. the ratio of amounts more than three months overdue to credit card receivables, went up 0.4 percentage points to 2.9% over the second quarter. Staff Reporter