Credit card spending expected to top NT$2.8 trillion in 2018: FSC

Focus Taiwan
Date: 2019/01/08
By: Tien Yu-pin and Frances Huang 

Taipei, Jan. 8 (CNA) Taiwan is expected to report more than NT$2.8 trillion (US$90.91 billion) in credit card spending for 2018, a new high at a time when cashless payment has gained in popularity among local consumers, the Financial Supervisory Commission (FSC) said Tuesday.

Data compiled by the FSC, the top financial regulator in Taiwan, showed that credit card spending in the first 11 months of last year totaled NT$2.64 trillion, beating the previous high of NT$2.62 trillion recorded for 2017.

In November 2018, credit card spending totaled NT$246.6 billion, down NT$10.5 billion from October. However, with December an important shopping period, the figure is likely to rebound and push up annual credit card spending further, the FSC said.

With annual credit card spending expected to pass NT$2.8 trillion, 2018 will be the ninth consecutive year spending has hit a new annual high, according to the FSC.

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