Taiwan to issue stimulus credits to contactless cards and mobile phones

Taiwan Premier Su Tseng-chang holding up bank note
DIGITAL CREDIT: Taiwan’s premier, Su Tseng-chang, unveils the Triple Stimulus voucher programme

Taiwan is to introduce a Triple Stimulus voucher programme that will enable residents to buy NT$3,000 (US$100) worth of shopping vouchers for NT$1,000 (US$33.34) — or receive an equivalent cashback credit to their card or mobile wallet.

Residents will be able to select any of four types of vouchers — hard copies, credit card payments, contactless smartcards or mobile payments, Taiwan News reports.

They will be available from 1 July and can be used any time between 15 July and 31 December 2020 at “brick-and-mortar retailers, restaurants, night markets, cultural venues, hotels and accommodation businesses, as well as for railway transport services.”

“Those favouring hard copies can ‘purchase’ vouchers with a total value of NT$3,000 at the cost of NT$1,000. They will come in groups of five NT$200 coupons and four NT$500 coupons,” Taiwan News adds.

“The vouchers can be pre-ordered at the country’s four major convenience store chains from 1 July… People can also visit the 1,300 post offices from 15 July to buy the stimulus vouchers directly.

“Individuals who prefer one of the three digital forms of vouchers will earn NT$2,000 (US$67.31) back by spending NT$3,000. They can sign up for this deal starting 1 July, and the cumulative spending mechanism begins on 15 July.

“For example, those opting for credit card payments will have NT$2,000 deducted from the next month’s bill; those using a registered EasyCard or other contactless smartcards will receive an NT$2,000 top-up at a convenience store; and those who select mobile payments will see the amount transferred to their mobile wallets.”

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