Wed, Aug 07, 2013 - Page 13 News List

Ministry approves Allpay payment bid

By Helen Ku  /  Staff reporter

Allpay Financial Information Service Co Ltd (歐付寶), an online third-party payment service provider, has been approved by the Ministry of Economic Affairs to transfer money between e-commerce buyers and sellers on its platform.

The approval came after the company — a subsidiary of online game developer MacroWell OMG Digital Entertainment Co (OMG, 歐買尬) — launched a cross-border online transaction platform along with First Commercial Bank (第一銀行), further strengthening Allpay’s foothold in the third-party payment service market.

The platform enables online buyers and sellers to make transactions via third-party payment service providers that are not commercial banks.

The ministry’s Department of Commerce said on its Web site that in addition to Allpay, it also approved Neweb Technologies Co Ltd (藍新科技) to provide the new payment service late last month.

According to the department, Allpay and Neweb are now able to process payments made by local buyers to foreign sellers and vice versa.

Users of both companies’ online settlement platforms can deposit money into their accounts first to spend on Internet purchases later, AllPay said.

Other e-commerce sites such as PChome Online Inc (網絡家庭) and PC Store (商店街) have also applied to the ministry to be allowed to operate the new payment service.

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