E.Sun Commercial Bank (玉山銀行) was the biggest issuer of new credit cards among local banks in September, for a third consecutive month, thanks to new programs featuring mobile payment and big rewards for online shopping.
The banking unit of E.Sun Financial Holding Co (玉山金控) issued 181,405 new cards in September, or 25 percent of all 723,056 cards issued, compared with the 127,293 and 155,055 cards it issued in July and August respectively, Financial Supervisory Commission data showed.
The bank’s U Bear card, launched in July and targeting younger consumers, was the first card to focus on rewards for online shopping.
Cardholders earn NT$5 (US$0.16) for every NT$100 spent on online and can earn 8 percent on purchases made at the nation’s four convenience store chains, E.Sun said yesterday.
The bank in August introduced a co-branded card with Kaohsiung Hanshin Arena Store (漢神巨蛋購物廣場), plus another card focused on travel miles benefits.
All the new cards can be integrated into a mobile wallet app that allows cardholders to pay with their mobile devices, helping reducing concern about losing the physical cards, the bank said.
Its co-branded card with Pi Mobile Technology Inc (拍付國際), which was launched in August last year and provides cardholders up to 4.5 credit points for every NT$100 spent, remains popular, the bank said.
The robust growth in its new credit card business boosted its net fee income from credit card sector to NT$4.87 billion for the first nine months of the year, up 30.3 percent year-on-year, E.Sun said.
Bank SinoPac (永豐銀行) came in second in new card issuance in September, with 109,367 cards, followed by Cathay United Bank (國泰世華銀行) with 82,642, commission data showed.
E.Sun Bank outperformed rivals with its new card programs between July and September, Banking Bureau Deputy Director-General Huang Kuang-hsi (黃光熙) said on Tuesday.
Meanwhile, state-run Taiwan Business Bank (台企銀) is leading its peers in canceling cards that have not been used in more than a year, with 112,327 cards canceled so far, Huang said.
Overall, CTBC Bank (中國信託銀行), the banking arm of CTBC Financial Holding Co (中信金控), remained first in terms of the number of cards in circulation at the end of September, with 6.75 million cards, followed by Cathay United Bank with 6.66 million and E.Sun Bank with 5.53 million, data showed.
Credit card spending totaled NT$253 billion in September for a cumulative total of NT$2.39 trillion for the first nine months of the year, setting both monthly and cumulative records, Huang said.
Polytronics Technology Corp (聚鼎科技) yesterday announced that it is buying Henkel AG’s thermal clad dielectric material (TCLAD) business division for US$26 million as the Taiwanese firm aims to improve its technology, product portfolio and revenue performance. Polytronics, headquartered in the Hsinchu Science Park (新竹科學園區), is a supplier of protection components and heat dissipation materials. The firm entered the metallic heat-dissipation substrate market in 2007 and developed a unique solventless production process. Its board of directors approved signing an agreement with Henkel to acquire the German chemical firm’s TCLAD division in the US. The purchase includes all assets and business interests, including equipment,
ELECTRIC FARMLAND: TSMC’s proposal to clear 230 hectares of reforested land for what would become Taiwan’s largest photovoltaic solar farm has generated concerns New rules curbing solar farms built on agricultural land sparked fierce debate at a packed public hearing at the Legislative Yuan yesterday, with industry representatives saying that the new restrictions would endanger President Tsai Ing-wen’s (蔡英文) green energy goals, while agricultural officials emphasized the importance of protecting farmers and the environment. The Tsai administration has set a target to generate 20 percent of the nation’s power from renewable sources by 2025, by which time it also aims to install 20 gigawatts (GW) of solar power, including 6GW from rooftop solar systems and 14GW from ground-mounted solar farms. Although rooftop solar systems are
‘SENSITIVE MARKETS’: The previously unannounced project would involve the company handing over control of data to a third party to sidestep privacy concerns Google has abandoned plans to offer a major new cloud service in China and other politically sensitive countries due in part to concerns over geopolitical tensions and the COVID-19 pandemic, two employees familiar with the matter said, revealing the challenges for US tech giants to secure business in those markets. In May, the search giant shut down the initiative, known as “Isolated Region” and which sought to address nations’ desires to control data within their borders, the employees said. The action was considered a “massive strategy shift,” said one of the employees, who added that Isolated Region had involved hundreds of employees
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday posted monthly revenue that suggested second-quarter sales surpassed analysts’ estimates, underscoring how its technological lead is helping the chipmaker weather the COVID-19 pandemic and US sanctions on its second-biggest customer Huawei Technologies Co (華為). Apple Inc’s main iPhone chipmaker posted sales of NT$120.88 billion (US$4.08 billion) for last month, up 40.8 percent year-on-year and bringing its revenue for the second quarter to NT$310.7 billion, beating the NT$308.8 billion analysts expected on average. TSMC, a barometer for the industry thanks to its heft in the global supply chain, had previously lowered its revenue outlook for this