618 Shopping Festival Kicks Off: Banks and E-payments Offer Up to 30% Rewards to Attract Customers

Taiwan's financial institutions are rolling out aggressive promotions to capture consumer spending during the "618" shopping festival, a major mid-year sales event. Banks and electronic payment providers are intensifying their offers, with Federal Bank and iPASS MONEY leading the charge with substantial cashback and discount schemes.

Federal Bank's "Online Shopping Federal Day" offers up to 8% credit card cashback on purchases from major e-commerce platforms like momo, Shopee, and Qoo10. For high-value transactions, especially in categories like 3C appliances and luxury goods, customers can receive up to 10% cashback on installment payments, potentially accumulating over NT$10,000 in rewards when combined with other promotions. Cross-border shoppers using Federal Bank cards on platforms like Taobao can also benefit from up to 7% cashback, with additional boosts for co-branded cards.

iPASS MONEY is also joining the fray with its "618 Mid-Year Celebration." Collaborating with various online retailers and brands, the e-payment service offers up to 5% cashback on purchases made with its account balance or linked credit cards on momo. On June 18th, a special NT$168 discount coupon will be available. Furthermore, iPASS MONEY is partnering with electronics retailers like Tsann Kuen, E-Life Mall, and Dyson to offer additional green point rewards for purchases of appliances and 3C devices, incentivizing consumers to upgrade their gadgets.