Starting today, credit card users will have to think twice before making purchases as banks are raising monthly minimum payments to prevent outstanding debts from snowballing.
The Bankers Association of the ROC (銀行公會) said that from today, cardholders will have to pay 10 percent of each month's new card sales, up from the original 2 percent. The minimum payment for old sales will remain at 2 percent.
Most cardholders will see the change on their bills next month.
Another new scheme taking effect today is tiered interest rates for banks' credit and cash-advance card customers, based on their credit scores.
The Financial Supervisory Commission said 13 credit card issuers would be the first banks to adopt this approach starting today, including Chinatrust Commercial Bank (中國信託商銀), Taishin International Bank (台新銀行) and Citibank Taiwan (花旗銀行).
Chinatrust Commercial will offer five levels of revolving interest rates, ranging between 7.99 percent and 19.49 percent. E.Sun Bank (
Nine cash card issuers will also offer differential interest rates, including Cathay United Bank (國泰世華銀行), Taipei Fubon Bank (台北富邦銀行) and Taishin International.
The domestic unit of the Chinese-owned, Dutch-headquartered chipmaker Nexperia BV will soon be able to produce semiconductors locally within China, according to two company sources. Nexperia is at the center of a global tug-of-war over critical semiconductor technology, with a Dutch court in February ordering a probe into alleged mismanagement at the company. The geopolitical tussle has disrupted supply chains, with some carmakers reportedly forced to cut production due to chip shortages. Local production would allow Nexperia’s domestic arm, Nexperia Semiconductors (China) Ltd (安世半導體中國), to bypass restrictions in place since October on the supply of silicon wafers — etched with tiny components to
Singapore-based ride-hailing and delivery giant Grab Holdings Ltd has applied for regulatory approval to acquire the Taiwan operations of Germany-based Delivery Hero SE's Foodpanda in a deal valued at about US$600 million. Grab submitted the filing to the Fair Trade Commission on Friday last week, with the transaction subject to regulatory review and approval, the company said in a statement yesterday. Its independent governance structure would help foster a healthy and competitive market in Taiwan if the deal is approved, Grab said. Grab, which is listed on the NASDAQ, said in the filing that US-based Uber Technologies Inc holds about 13 percent of
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday received government approval to deploy its advanced 3-nanometer (3nm) process at its second fab currently under construction in Japan, the Ministry of Economic Affairs said in a news release. The ministry green-lit the plan for the facility in Kumamoto, which is scheduled to start installing equipment and come online in 2028 with a monthly production capacity of 15,000 12-inch wafers, the ministry said. The Department of Investment Review in June 2024 authorized a US$5.26 billion investment for the facility, slated to manufacture 6- to 12nm chips, significantly less advanced than 3nm process. At a meeting with
Taiwan’s food delivery market could undergo a major shift if Singapore-based Grab Holdings Ltd completes its planned acquisition of Delivery Hero SE’s Foodpanda business in Taiwan, industry experts said. Grab on Monday last week announced it would acquire Foodpanda’s Taiwan operations for US$600 million. The deal is expected to be finalized in the second half of this year, with Grab aiming to complete user migration to its platform by the first half of next year. A duopoly between Uber Eats and Foodpanda dominates Taiwan’s delivery market, a structure that has remained intact since the Fair Trade Commission (FTC) blocked Uber Technologies Inc’s
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