The Financial Supervisory Commission (FSC) yesterday stuck to its original plan to assign the Bankers Association of the Republic of China (銀行公會) to draw up clauses for a draft act governing third-party payment services, aiming to push through the act in the first half of next year.
The commission invited bankers, Internet companies, digital payment firms and industry representatives to a meeting yesterday to solve the disputes about which industry should draw up clauses for the draft payment processing institution act that would regulate third-party payment services in Taiwan.
The commission said representatives reached a consensus that the Bankers Association should continue its task in drawing up clauses for the draft act and finish them before the Lunar New Year, which falls in late February.
During the process of drafting, the association should invite Internet companies and digital payment service providers to exchange opinions, making the clauses more complete and applicable to every related sector, the commission said.
“If the legislature passes the act within the first two months of next year, we are confident that the clauses will go into effect in three to four months after the passage as scheduled,” Banking Bureau Director-General Austin Chan (詹庭禎) told a media briefing after the meeting.
That means the act might officially take effect by the end of June next year at the earliest, Chan said.
Yesterday’s meeting took about one hour, Chan said, adding that discussions between representatives were smooth.
PChome Online Inc (網路家庭) chairman Jan Hung-tze (詹宏志), who had called for permission to allow Internet companies to be in charge of drawing up the draft act’s clauses, also attended the meeting and accepted the commission’s decision, Chan said.
Facing the rapidly evolving global COVID-19 pandemic, Citibank Taiwan Ltd (台灣花旗) has proactively taken precautionary measures. “The health and safety of our colleagues and their families, as well as our clients and the communities we serve, are of the utmost importance. We continue to take proactive measures to preserve their well-being while we maintain our ability to serve our clients,” Citibank Taiwan chairman Paulus Mok (莫兆鴻) said in a statement yesterday. “We have local and regional contingency plans in place, and we have well-established business continuity plans for the firm. We are monitoring the situation closely, adjusting our operations accordingly,
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