UnionPay cards to be allowed for purchases in Taiwan

By Chen Qian | July 17, 2009, Friday |

Online Edition

CHINESE mainland tourists will be allowed to use China UnionPay bank cards in Taiwan soon, the island's Financial Supervisory Commission said.

FSC announced the plan in newly revised regulations governing financial exchanges across the Taiwan Strait.

The action was taken to encourage more Chinese mainland tourists to visit the island, China News Service reported today.

UnionPay cards will be allowed for transactions on the island as soon as September, said Hsiao Chang-rui, deputy director general of the Bureau of Monetary Affairs. It is expected that NT$100 billion (US$3.04 billion) will be spent every year by Chinese mainland cardholders in Taiwan, the report said.

The island has prepared nearly 30,000 POS machines for the use of UnionPay cards.

China UnionPay is the most popular debit card and ATM bank card on the Chinese mainland.

Nation

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UnionPay cards to be allowed for purchases in Taiwan

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