E.Sun Commercial Bank and ezTravel Co. launched on July 18, a cobranded credit card on expectations that credit card spending by Taiwanese during overseas travel would rebound later 2022 or early in 2023.
It is the nation’s first cobranded card introduced by a bank and an online travel agency. E.Sun expects ezTravel, the nation’s largest travel platform with more than 2 million active users, to help expand its client base, E.Sun Commercial Bank chairman Joseph Huang told a news conference in Taipei.
The platform has diverse product offerings, such as airline and cruise tickets, and accommodation and travel programs, so partnering with ezTravel meets the bank’s goal of offering one-stop services to its clients, Huang said.
E.Sun said that people can earn eMoney points for many kinds of purchases on ezTravel and use them for their next transaction on the platform, with one point worth NT$1.
“Overall, this credit card is suitable for those who love travel. Reward rates are set at 8 percent for purchases of airline tickets or accommodation. They can be even 10 percent for new clients.” Huang said.
While domestic travel has fully recovered in western Taiwan, overseas travel by Taiwanese might not return to pre-pandemic levels this year due to border controls and a weekly arrival limit of 40,000 set by the government, Lin said.
“However, we need to adopt a forward-looking strategy for the credit card business, as there are signs of a rebound in demand for overseas travel. It is possible that international travel would fully recover next year,” Huang said.
E.Sun has over the past few years issued innovative credit cards to satisfy its clients’ needs. Last month, it issued the nation’s first digital credit card, which consists only of a number and not a physical card.
“Surprisingly, the digital card was received better than our expectations and we have issued about 50,000 cards. That might be because just a few channels or shops accept only physical cards,” Huang said.