Visa Taiwan Co (台灣威士卡) is to focus on providing new cross-border payment solutions, issuing debit cards for young people and collaborating with the cryptocurrency sector to boost its competitiveness, general manager Michelle Jao (趙麗芳) said yesterday.
As parent Visa Inc has launched a business-to-business (B2B) payment solution Visa B2B Connect to facilitate quick cross-border payments using blockchain technology, Visa Taiwan has applied with the Financial Supervisory Commission (FSC) to introduce the service to local businesses, Jao told a media briefing in Taipei.
The service, which the commission is reviewing, is available in more than 100 countries, she said.
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台北時報
‘Cash no longer king’ in Taiwan: credit card survey
By Kao Shih-ching / Staff reporter
Credit and debit cards have replaced cash as the most common payment method in Taiwan, Visa Taiwan Co (台灣威士卡) said in a report on Thursday last week.
A survey of 800 people conducted in August last year showed that about 80 percent of respondents used credit cards daily, while about 77 percent used cash and 58 percent used stored-value cards, such as EasyCards and iPass cards, Visa Taiwan said.
A 2019 study showed that cash was the most popular payment method in the nation, with 91 percent of respondents using cash daily and 83 percent using credit and debit cards, it said.
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