Consumers in Taiwan soon might not be able to pay for gas using their credit cards because the state-owned gas retailer later this year may be without a credit card processor.
CPC Corp. has decided not to renew its contract with Chinatrust Commercial Bank Ltd. once it expires, according to a spokesperson for the retailer. CPC was not dissatisfied with Chinatrust, but a change in rules last year regarding government contracts prevents it from renewing the contract, he says.
The contract expires in May, but the two parties have extended it until August. After that, “cardholders may no longer be able to use their credit cards,” the spokesperson says.
Under the new rules, state governments must throw open state contracts to public bidding instead of establishing private agreements. Despite five rounds of bidding, CPC has yet to pick a winning processor, according to the spokesperson.
CPC accepts NT$4.5 billion (US$153 million or 108 million euros) per month in credit card payments for gas, he says.
Officials at Chinatrust could not be reached by deadline by PaymentsSource.
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