China bankcard association plans office in Taiwan

China UnionPay could set up operations on the island early next year, the Economic Daily News said, without naming its source.

Taiwan authorities in August permitted Chinese visitors to use China UnionPay cards for transactions.

The island's Financial Supervisory Commission told AFP it has not received an application from China UnionPay to set up the office.

Transactions in Taiwan by Chinese tourists using China UnionPay cards have amounted to more than NT$700 million (US$21.5 million) since August, according to the paper.

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