The number of credit cards in circulation grew to 18.8 million by the end of the fourth quarter of 2014, up 1.7% on the previous quarter and 3.8% year-on-year, the Monetary Authority said today.
There were 127.8 million credit card transactions, up 3.9% quarter-to-quarter and up 4.1% year-on-year, while the value of credit card transactions was $151.1 billion, up 9.6% on the previous quarter and up 6.4% year-on-year.
The number of debit card transactions in relation to retail sales and bill payments rose 9% to 31.1 million, while the total value increased 15.2% to $66.3 billion in the fourth quarter.
Compared to the same period in 2013, the total number rose 4.7%, while the total value grew 8%.
