Visa owns 55% of Hong Kong credit card market, MasterCard – 35%
In June 2004, total credit card debt as a percentage of total household credit was 6.4% for Hong Kong. This was significantly higher than that of Singapore which was 2.7% but less than other regional countries such as Thailand and Taiwan with 7.3% and 8.5% respectively. In terms of the number of cards issued and scheme dominance, Hong Kongs credit card market is approximately three times the size of Singapores and similar to Australias market. The shares held by both Visa and MasterCard are also similar to Australia with 55% and 35% respectively, according to Research and Markets.