Card usage up during holiday

Source: Xinhua | 2018-02-23

CHINA UnionPay, the country’s sole bank card network operator, said yesterday that transactions surged to a record high during the weeklong Spring Festival holiday as card holders went on a spending spree.

The total value of transactions at home and abroad through China UnionPay network soared 47 percent from last year’s holiday to 679 billion yuan (US$107 billion), according to a China UnionPay statement.

Card owners’ spending on shopping and catering jumped 43 percent and nearly 50 percent, respectively, while that for entertainment and cultural activities also surged.

Overseas transactions grew, with payments in Turkey, Morocco and Sri Lanka more than double those of last year’s holiday.

Mobile payments via China UnionPay services soared nearly 150 percent overseas, the operator said.