Cathay United Bank Partners with Formosa Plastics Group to Launch New Credit Card Benefits
Cathay United Bank and Formosa Plastics Group's 10-year co-branded card contract expires in July. From June 1, the bank will introduce the new "Formosa Family" benefits plan on its CUBE card platform, expecting 200,000 card replacement requests.
📋 Article Processing Timeline
- 📰 Published: April 16, 2026 at 22:52
- 🔍 Collected: April 16, 2026 at 23:02 (9 min after Published)
- 🤖 AI Analyzed: April 19, 2026 at 03:37 (52h 35m after Collected)
Central News Agency
(CNA Reporter Su Ssu-yun, Taipei, 16th) The "Cathay United Formosa Plastics Co-branded Card," a 10-year collaboration between Cathay United Bank and Formosa Plastics Group, will expire on July 31. Cathay United Bank announced today that it will continue to deepen its cooperation with Formosa Plastics Group, planning to launch a new group-level benefits plan called "Formosa Family" on the CUBE credit card. This marks the first instance of a co-branded card partner migrating to the CUBE credit card platform. Card replacements will begin on June 1, with an estimated demand for 200,000 replacements.
Cathay United Bank held a briefing this afternoon regarding the strategic partnership upgrade with Formosa Plastics Group.
Cathay United Bank Executive Vice President Liang Ming-chiao stated that since launching the CUBE credit card in 2021, focusing on customizable benefits integrated with Tree Points, the system now generates 10 billion Tree Points annually. Since partnering with Formosa Plastics Group to launch the co-branded card in 2016, the cumulative number of cardholders has exceeded 800,000. As the co-branded card contract nears its expiration, this new collaboration model with Formosa Plastics Group serves as a significant milestone over the past 10 years. Co-creating the new group-level benefit "Formosa Family," they hope it becomes a new demonstration case for co-branded cards and embedded finance.
Chen Ho-chi, Senior Vice President of Formosa Petrochemical Corporation, stated that this collaboration to upgrade the original model with Cathay United Bank and launch the "Formosa Family" benefits plan not only integrates core services like gasoline but also further connects group channel resources such as Formosa Biomedical Technology, Chang Gung Biotechnology, and the Formosa Shopping Network. In the future, they also look forward to deeply integrating data and technology to continuously expand the usage scenarios of the Formosa Oil APP.
Cathay United Bank Assistant Vice President Liao Shu-chien explained that about 60% of Cathay United Formosa Co-branded Card holders have additionally applied for the CUBE credit card. With the co-branded card contract expiring on July 31, it is expected that CUBE cards will be issued starting June 1, estimating a need for 200,000 card replacements. The Cathay United Formosa Co-branded Card will cease operations from August 1, and any remaining gasoline cash rewards upon deactivation will be converted into statement credits.
Liao explained that in the past, CUBE benefits were categorized by consumption type—e-commerce shoppers might choose "Digital Play," while dining and department store spenders might choose "Food & Shopping." This instance marks the first time a co-branded card partner has migrated to the CUBE platform, establishing a new "Formosa Family" benefit from a direct group-to-group perspective.
Regarding how the bank will evaluate issuing co-branded cards versus adopting the CUBE platform's new benefits model in the future, Liao pointed out that they maintain an open attitude toward both co-branded and non-co-branded forms. The most crucial factor is understanding the partner's needs: do they truly need a co-branded card, or do they need to manage a membership base? This can be discussed across many dimensions. (Editor: Yang Kai-hsiang) 1150416
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(CNA Reporter Su Ssu-yun, Taipei, 16th) The "Cathay United Formosa Plastics Co-branded Card," a 10-year collaboration between Cathay United Bank and Formosa Plastics Group, will expire on July 31. Cathay United Bank announced today that it will continue to deepen its cooperation with Formosa Plastics Group, planning to launch a new group-level benefits plan called "Formosa Family" on the CUBE credit card. This marks the first instance of a co-branded card partner migrating to the CUBE credit card platform. Card replacements will begin on June 1, with an estimated demand for 200,000 replacements.
Cathay United Bank held a briefing this afternoon regarding the strategic partnership upgrade with Formosa Plastics Group.
Cathay United Bank Executive Vice President Liang Ming-chiao stated that since launching the CUBE credit card in 2021, focusing on customizable benefits integrated with Tree Points, the system now generates 10 billion Tree Points annually. Since partnering with Formosa Plastics Group to launch the co-branded card in 2016, the cumulative number of cardholders has exceeded 800,000. As the co-branded card contract nears its expiration, this new collaboration model with Formosa Plastics Group serves as a significant milestone over the past 10 years. Co-creating the new group-level benefit "Formosa Family," they hope it becomes a new demonstration case for co-branded cards and embedded finance.
Chen Ho-chi, Senior Vice President of Formosa Petrochemical Corporation, stated that this collaboration to upgrade the original model with Cathay United Bank and launch the "Formosa Family" benefits plan not only integrates core services like gasoline but also further connects group channel resources such as Formosa Biomedical Technology, Chang Gung Biotechnology, and the Formosa Shopping Network. In the future, they also look forward to deeply integrating data and technology to continuously expand the usage scenarios of the Formosa Oil APP.
Cathay United Bank Assistant Vice President Liao Shu-chien explained that about 60% of Cathay United Formosa Co-branded Card holders have additionally applied for the CUBE credit card. With the co-branded card contract expiring on July 31, it is expected that CUBE cards will be issued starting June 1, estimating a need for 200,000 card replacements. The Cathay United Formosa Co-branded Card will cease operations from August 1, and any remaining gasoline cash rewards upon deactivation will be converted into statement credits.
Liao explained that in the past, CUBE benefits were categorized by consumption type—e-commerce shoppers might choose "Digital Play," while dining and department store spenders might choose "Food & Shopping." This instance marks the first time a co-branded card partner has migrated to the CUBE platform, establishing a new "Formosa Family" benefit from a direct group-to-group perspective.
Regarding how the bank will evaluate issuing co-branded cards versus adopting the CUBE platform's new benefits model in the future, Liao pointed out that they maintain an open attitude toward both co-branded and non-co-branded forms. The most crucial factor is understanding the partner's needs: do they truly need a co-branded card, or do they need to manage a membership base? This can be discussed across many dimensions. (Editor: Yang Kai-hsiang) 1150416
Stand with the facts; every sponsorship you make is the power to protect press freedom.
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Texts, images, and audio/video on this website may not be reproduced, publicly broadcast, or publicly transmitted and utilized without authorization.