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Card Payments In Taiwan To Increase By 6.2% In 2022: Report

Card Payments In Taiwan To Increase By 6.2% In 2022: Report
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Taiwan , Taiwanese , Ravi-sharma , Financial-supervisory-commission , Payment-cards-analytics , Lead-banking , Payments-analyst , Quintuple-stimulus-voucher , Triple-stimulus-voucher- ,

Taiwan's Quintuple Stimulus Vouchers, bonus vouchers expire Saturday | Taiwan News

Ministries remind those with unused vouchers to spend them quick before they expire | 2022-04-30 11:55:00

Taipei , T-ai-pei , Taiwan , Council-of-agriculture , Tourism-bureau , Taiwan-news , Ministry-of-economic-affair , Ministry-of-culture , Ministry-of-transportation , Council-of-indigenous-people , National-treasury-administration

Service sector is still in a virus slump: institute

The service sector has not yet emerged from a slump amid the COVID-19 pandemic, although the rate of decline eased last quarter, the Commerce Research Institute (商業發展研究院) said yesterday.
The coincidental cyclical composite index for the service industry continued to fall last quarter and did not bottom out in October last year as had been expected following the launch of the government’s Quintuple Stimulus Voucher program, the Taipei-based research body said.
The retreat persisted in January, although the leading cyclical composite index has been rising since July 2020, indicating that economic development is uneven, the institute said.
The findings reflect soft domestic demand,

Taipei , T-ai-pei , Taiwan , Australia , Japan , Canada , Russia , Ukraine , Commerce-research-institute , Crystal-hsu , Quintuple-stimulus-voucher

Data show non-cash transactions value rose, but deals fell

The value of non-cash transactions last year rose 9.24 percent to NT$5.44 trillion (US$195.36 billion) from 2020 as Taiwanese grew more comfortable with electronic payments amid the COVID-19 pandemic, the Financial Supervisory Commission (FSC) said on Thursday.
However, the number of electronic transactions last year shrank 9.5 percent to 4.73 billion from a year earlier as people stayed home during a level 3 COVID-19 alert from May to July, the commission said.
For the whole of last year, ridership on MRT metro systems — with most tickets purchased via non-cash payments — throughout Taiwan slumped 30 percent annually, dragging the overall number

Taiwan , Taiwanese , Lin-chih-chi , Financial-supervisory-commission , Banking-bureau-deputy , Crystal-hsu , Quintuple-stimulus-voucher , 台北時報 , The-taipei-times ,

Food and beverage sector rallying from May depths

Food and beverage services are expected to continue their recovery momentum this month after sales last month increased 2.5 percent year-on-year, the Ministry of Economic Affairs said in a report on Thursday.
“Due to the stable COVID-19 situation in Taiwan, the number of people eating out continues to increase,” the ministry said.
“Coupled with business opportunities from Christmas and New Year’s Eve celebrations, as well as corporate gift purchases for year-end employee parties and seasonal household demand, sales should continue to grow in December,” the ministry said.
Sales in the food and beverage industry last month showed annual growth for a second consecutive

Taipei , T-ai-pei , Taiwan , Ministry-of-economic-affairs , Chen-cheng-hui , Economic-affairs , New-year , Quintuple-stimulus-voucher , 台北時報 , The-taipei-times ,

COVID-19 funding gets extension, but amount decreased

The legislature yesterday approved an additional NT$159.893 billion (US$5.76 billion) of funding for COVID-19 relief and prevention — NT$170 million less than the Cabinet’s proposal of NT$160 billion.
Approved by the Cabinet in September, the additional funds are to be allocated to COVID-19 prevention and control, and financial relief, including stimulus spending.
However, following the completion of the legislature’s review on Wednesday, the proposed funding was cut by NT$170 million.
COVID-19 prevention and control — including enhancing testing capacity, establishing screening stations, amd mass vaccination programs, opening COVID-19 consultation hotlines and procuring medication for treatment of patients — is to be allocated NT$18.9

China , Taipei , T-ai-pei , Taiwan , Chinese , Sandy-yeh , Lai-shyh-bao , Chinese-nationalist-party , Funds-for-the-ministry-of-economic-affairs , Ministry-of-health , Taipei-times , Speaker-you-si-kun

EDITORIAL: Flawed revenue model raises doubts

The nation’s tax revenue continued to soar this year despite the COVID-19 pandemic. From January through last month, the state coffers swelled by NT$2.46 trillion (US$88.5 billion) in revenue, a 22.5 percent increase over the same period last year, and 17.7 percent higher than the government’s budget for the year, the latest government data showed on Nov. 10.
In the first 10 months of the year, collections from taxes on corporate income, securities transactions, business and personal income were 48.5 percent, 96.7 percent, 15.6 percent and 3.8 percent higher than the same period last year respectively. That is because of profit

Taiwan , Quintuple-stimulus-voucher , Executive-yuan , 台北時報 , The-taipei-times ,

Taiwan card payments to grow by 15 percent

Taiwan's payment card market will grow by 15.2% in 2021, according to a press release from GlobalData. This follows a slump in the market in 2020 due to COVID-19.
The market will reach $130.6 billion in 2021 and grow at a compound annual growth rate of 9.5% to reach $187.7 billion in 2025.

Taiwan , Taiwanese , Nikhil-reddy , Quintuple-stimulus-voucher , Payments ,

Applications to defer credit card payments decline

Applications to defer credit card payments last month plunged 90 percent from June, suggesting a tapering of loan demand, Mega International Commercial Bank (兆豐銀行) said yesterday, citing its own statistics.
Mega International attributed the rapid decline to a quick recovery in consumer activity after the public health situation stabilized in late July following a domestic outbreak of COVID-19 in May, allowing most businesses to resume operations.
The Financial Supervisory Commission in May asked domestic banks to provide interest-free moratoriums of three to six months to customers with credit card and loan payments due in June, Mega International said.
The move was intended to

Mega-international , Mega-international-commercial-bank , Crystal-hsu , Financial-supervisory-commission , Quintuple-stimulus-voucher , 台北時報 , The-taipei-times ,

Necessary items top pick for vouchers: poll

Necessary items were the top pick for people when asked what they planned to spend their Quintuple Stimulus Vouchers on, with 39.3 percent of respondents to a survey by Cathay Financial Holdings Co (國泰金控) released yesterday saying that groceries and other such items were on their list, while 26.4 percent had planned trips to department stores.
The survey showed that 11.3 percent of respondents planned to spend their vouchers on travel and 9.9 percent on dining out.
The survey showed that people are more likely to use the vouchers at shopping malls or restaurants than last year, Cathay Financial said in a

Taiwan , Taiwanese , Cathay-financial-holdings-co , Cathay-financial , Quintuple-stimulus-vouchers , Kao-shih-ching , Quintuple-stimulus-voucher , Executive-yuan , Triple-stimulus-vouchers , 台北時報 , The-taipei-times