Taipei, Aug. 15 (CNA) Credit card spending in Taiwan approached a five-year high in the first half of 2022 as local consumers showed a renewed willingness to spend as concerns eased over COVID-19, according to the Financial Supervisory Commission (FSC).
Credit card spending in Taiwan approached NT$1.54 trillion (US$51.35 billion) in the first half of the year to reach a five-year high, as people showed a renewed willingness to spend amid easing concerns over COVID-19, the Financial Supervisory Commission said last week.
The first-half figure was up NT$108.4 billion from the same period last year and marked the second-highest total for the six-month period since similar data were first compiled in 2018, commission data showed.
In June, credit card spending reached NT$264.4 billion, up NT$6.4 billion from May, which Banking Bureau Deputy Director-General Phil Tong (童政彰) on Thursday said was due to
Eleven domestic financial institutions have registered as members of a new over-the-counter (OTC) derivatives clearing business that the Taiwan Futures Exchange (TAIFEX) launched on Monday last week to bolster the resilience of the financial system and align with international supervision trends, the exchange said.
The 11 financial institutions are CTBC Bank (中信銀行), Yuanta Commercial Bank (元大銀行), Taipei Fubon Commercial Bank (台北富邦銀行), Bank SinoPac (永豐銀行), SinoPac Securities Co (永豐金證券), E.Sun Commercial Bank (玉山銀行), Taiwan Cooperative Bank (合庫銀行), Cathay United Bank (國泰世華銀行), Chang Hwa Commercial Bank (彰化銀行), Shin Kong Commercial Bank (新光銀行) and Bank of Taiwan (臺灣銀行), the exchange said.
Over-the-counter transactions are deals
E.Sun Commercial Bank (玉山銀行) and ezTravel Co (易遊網) yesterday launched a cobranded credit card on expectations that credit card spending by Taiwanese during overseas travel would rebound later this year or early next year.
It is the nation’s first cobranded card introduced by a bank and an online travel agency.
E.Sun expects ezTravel, the nation’s largest travel platform with more than 2 million active users, to help expand its client base, E.Sun Commercial Bank chairman Joseph Huang (黃男州) told a news conference in Taipei.
The platform has diverse product offerings, such as airline and cruise tickets, and accommodation and travel programs,
Mastercard Taiwan has teamed up with E.Sun Commercial Bank (玉山銀行) to issue what they are calling the nation’s first digital credit card, which can be used at physical stores and on online platforms, the card issuer said yesterday.
Once a consumer’s application for the credit card is approved, the card’s information, such as its number and security code, is sent to E.Sun Bank’s electronic wallet app, MasterCard Taiwan general manager Eva Chen (陳懿文) said in a statement.
Consumers can use the card’s numbers to purchase goods online, or link the card with different mobile payment tools so that they can shop at