Jan-Apr Credit Card Spending Hits NT$1.66 Trillion, Record High for Period

(Central News Agency, reporter Su Siyun, Taipei 9th) Statistics from the Financial Supervisory Commission (FSC) show that credit card spending in April was NT$415.9 billion, a decrease of NT$36.5 billion from March. The FSC stated that the decline was mainly due to a high base in March, driven by a surge in outbound travel. Overall, as consumers become increasingly accustomed to using credit cards, the spending figures for April (NT$415.9 billion) and the first four months (NT$1.6681 trillion) both set new records for the same period.

The FSC released business information for credit cards, cash cards, and electronic payment institutions for April. As of the end of April, there were 32 credit card issuers, with a total of approximately 59.58 million cards in circulation and about 40.12 million active cards.

FSC Banking Bureau Deputy Director General Wang Yun-chung stated that the NT$36.5 billion month-on-month decrease in April spending was mainly due to the high base in March. Factors included the World Baseball Classic (WBC) in March, which led to more outbound travelers and relatively lower outbound travel spending in April, as well as the deferral of spending from the 228 Peace Memorial Day long weekend into March.

Wang noted that the April spending of NT$415.9 billion and the Jan-Apr spending of NT$1.6681 trillion were both record highs for the period, representing year-on-year increases of 11.41% and 12.38%, respectively. As consumers increasingly rely on credit cards as a payment tool, annual credit card spending has been hitting new highs in recent years.

Beyond credit cards, reliance on electronic payments is also deepening. As of the end of April, the total number of electronic payment account users was approximately 40.38 million, an increase of about 410,000 from the previous month. The value of agency collection and payment transactions for the month was approximately NT$28.99 billion, an increase of about NT$1.74 billion month-on-month.

Statistics show that LINE Pay Money, since its launch at the end of last year, took the top spot in agency collection and payment amounts for the first time in February this year and has retained the crown in March and April, demonstrating its market penetration.

In terms of electronic payment user numbers, the top five were: JKO Pay (7.25 million), iPASS (7.23 million), All Pay (7.17 million), EasyCard (4.16 million), and LINE Pay Money (3.90 million), with the ranking unchanged from March. (Editor: Yang Lanxuan) 1150609