Mainland Chinese travellers visiting Taiwan will soon be able to use their UnionPay bank cards to pay for expenses, after revised financial exchange regulations between the two countries.
The debit-card service will be activated in September at the earliest and is expected to give Mainland visitors more incentive to visit Taiwan, given their increased spending options.
Approximately 1.8 billion automated teller machine (ATM) and debit UnionPay cards have been issued by the China UnionPay Company, which offers Mainland China’s only national electronic payment network. Taiwanese banks have not been allowed to issue UnionPay cards. Industry sources consulted by The China Post in Taipei estimate that about 30,000 card terminals around the island will accept the cards.
UnionPay cards can also currently be used to withdraw cash in 61 destinations around the world as part of China UnionPay’s globalisation programme.
In July last year, Mainland China and Taiwan made history, after decades of strained relationship, allowing direct flights between several Mainland cities and the island.
For more about China UnionPay, visit http://en.chinaunionpay.com
Joshua Tan
