Overseas credit card spending saw a significant rise post Covid-19 travel restrictions easing, outpacing prepaid payment instruments and debit cards. Despite a higher tax rate of 20% on international credit card transactions, spending increased by 63% between December 2022 and July 2024, driven by higher reward points and convenience. Debit cards saw only an 8% rise.
Disclaimer : Mymoneytimes implements extreme caution and care in collecting data before publication. Mymoneytimes does not liable for the adequacy, accuracy or completeness of any given information. Hence we are not liable for any kind of direct or indirect loss caused by the use of such information.