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Mainland's UnionPay bank cards to make way into Taiwan

China UnionPay, the largest bank card organization on the Chinese mainland, said its bank cards would be accepted in Taiwan beginning Friday.

The company would launch its bank card services in Taiwan in accordance with preliminary agreements with Taiwan's "National Credit Card Center," the company's press official told Xinhua Thursday.

This was expected to bring annual bank card transactions worth 100 billion New Taiwan dollars (about 3 billion U.S. dollars) to Taiwan's retailers, the Taiwan-based Economic Daily News reported Thursday.

It could also bring an annual 2 billion New Taiwan dollars in transaction fees to banks in Taiwan, the newspaper said, citing officials with the Financial Supervisory Commission on the island.

China UnionPay will hold a ceremony Friday to announce the launch and unveil details of the deal.

 Source : Xinhua  Editor: Ivy
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