Asia Express - Consumer Electronics
Taiwan’s Total Credit Card Purchase Amount Hit Over US$100 Billion in 2019 Thanks to Mobile Payment
January 03, 2020

Taiwan’s FSC (Financial Supervisory Commission) recently announced that the total credit card purchase amount hit NT$2.9 trillion (US$98.2 billion; US$1 = NT$29.54) as of November 2019, up 9.8% year-on-year, the United Daily News reported on January 2. The amount is to hit the new high at NT$3 trillion (US$101.6 billion) by year-end 2019. This reflects the credit card transaction environment in Taiwan has been gaining ground with an increase in credit card acceptance channels and payment options such as mobile payment and e-payment as well as growing payment acceptance in a broad range of applications. The rise of mobile payment has made Taiwanese consumers more inclined to use credit cards. As of November 2019, the number of newly issued credit cards hit 6.97 million. And the number is expected to break 7 million in 2019, up from 5.5 million in 2018.