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Taiwan's VISA Credit Card Spending Soars in May
Taiwan VISA credit card-holders charged 50.5 billion new Taiwan dollars (1.46 billion U.S. dollars) in goods and services in May, an increase of 11 percent from the previous month, according to VISA International Service Association Tuesday.
A VISA Taiwan spokesman attributed the soaring charges to its series of marketing strategies, including the collaboration with SOGO Department Store and the Hyatt Hotel. Mother's Day, which was a major occasion for sales, also helped boost the credit spending.
As of May 30, VISA International had issued just over 20 million VISA cards in Taiwan. VISA cards have remained the No. 1 credit card in Taiwan since their introduction in 1989, according to the spokesman.
Currently, each Taiwan adult who is financially qualified to use credit cards holds an average of 1.32 VISA cards, the spokesman said.
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