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Chinese preference for credit cards higher than global average
Online Edition
MORE Chinese consumers prefer to use credit cards than the average person around the globe, a study shows.
Credit cards were picked by 48 percent of Chinese respondents as their favorite payment method, with 21 percent choosing debit cards, compared with a global average of 29 percent and 23 percent, according to a recent survey by market research firm Nielsen.
"The momentum will continue to grow thanks to further penetration of credit cards among Chinese consumers," said Kevin Wang, director of Nielsen China.
A total of 44 percent of Chinese consumers use two payment cards on a regular basis, the highest among 60 countries surveyed and higher than the 37 percent global average.
Chinese also showed the highest level of confidence around the globe in terms of using cards with smartphones or tablets — 74 percent respondents said they feel comfortable shopping online and using their card on such devices.
Nielsen China's Wang pointed out that both banks and card issuers should catch the wave of the robust growth of electronic and mobile payments in China, and push forward consumption growth by providing more convenient and secure platforms.
Nielsen's online survey was conducted last year, covering 30,000 consumers in 60 countries with more than 500 in China.
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