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September 21, 2017

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Dual currency credit cards expected early 2015: FSC

TAIPEI--Banks in Taiwan will be able to issue dual currency credit cards in early 2015, pending the completion of "related preparation work," the Financial Supervisory Commission (FSC) said Friday.

Preparations are expected to take eight months and will mainly involve adjustments to the network systems of local banks and the National Credit Card Center, which is responsible for processing credit card transactions, the FSC said.

Dual currency credit cards will allow consumers payment flexibility using the Taiwan dollar and a foreign currency, such as the U.S. dollar, euro or Japanese yen, without having to worry about exchange rate fluctuations while spending overseas.

Many major credit-card issuing banks are interested in providing the new service, according to an FSC official, who did not elaborate.

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