Focus Taiwan
Date: 2020/01/04
By: Wu Chia-jung and Frances Huang

Taipei, Jan. 4 (CNA) Credit card spending during the January- November period of 2019 rose almost 11 percent from a year earlier to hit a new high, according to the Financial Supervisory Commission (FSC).

Data compiled by the FSC, Taiwan's top financial regulator, showed that credit card holders spent NT$2.93 trillion (US$97.34 billion) in the first 11 months of last year, up 10.98 percent from a year earlier.

The January-November figure surpassed the aggregate amount of NT$2.88 trillion posted for the whole of 2018, according to the data.

The FSC said the increase in credit card spending came after more and more consumers preferred non-cash payments over cash and that credit cards simply provided a more convenient payment method at a time when the banking industry has strengthened transaction security.    [FULL  STORY]