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China cross-bank card transactions hit record high in New Year holiday

Source:   Time:

BEIJING, Jan. 5 (Xinhua) -- China saw cross-bank card transaction value surge 35 percent year-on-year to a record high during the three-day New Year holiday, a national bank card network operator said Thursday.

Domestic cross-bank card transaction value exceeded 130 billion yuan (20.6 billion U.S. dollars) from Jan. 1 to Jan. 3, with most payments recorded in shopping malls, supermarkets and restaurants, said an official with China UnionPay.

During the three days, overseas card transactions rose 29 percent year-on-year, the official said.

Marked transaction growth was recorded in major overseas tourist destinations such as Taiwan, South Korean, Japan, Britain, France, Italy and the United Arab Emirates.

Train ticket purchases by bank card holders through online payment soared, with the daily average number of deals jumping 15 times from the National Day holiday in October, as travelers rushed to book trips home for the Spring Festival, which falls on Jan. 23.

China UnionPay has sole responsibility for the Chinese mainland's bank card transactions and had extended its network to 117 overseas countries and regions as of December 2011.

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