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Bank card transactions hit record on New Year holiday
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DOMESTIC consumers expenditure through China UnionPay's network jumped to a record high over the New Year’s Day holiday this year, with the average number of payments adding more than 23 percent from the same period a year ago, a latest report shows.
The number of cross-bank transaction handled by the country's sole bankcard transaction firm China UnionPay reached 78.8 million on January 1, UnionPay said.
On New Year's Day, the value of cross-bank transaction reached 103.7 billion yuan (US$16.9 billion), the highest transaction size on a single day ever.
The three-day holiday was a peak season for shopping and leisure spending with spending at restaurants and eateries as well as at department stores and shopping centers both adding over 45 percent from the same period last year.
Overseas expenditure through UnionPay's network also jumped 38 percent from a year ago and the number of payments added 79 percent, with outbound travelling picking up in recent years.
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