Updated Friday, November 6, 2009 10:47 am TWN, AFP

China bankcard association plans office in Taiwan

TAIPEI, Taiwan -- China's only bankcard association plans to open an office in Taiwan, after the island started accepting its cards amid growing demand from Chinese tourists, local media reported Thursday.

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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