EasyCard Corp (悠遊卡) yesterday said it would launch a new electronic payment service in the fourth quarter after the Financial Supervisory Commission approved its license application on Monday.
The approval makes the company the seventh to receive such a license, the commission said on Tuesday.
With the new license, EasyCard would be able to expand its services and process larger transactions, as well as transfer money between electronic payment accounts held by different users, the commission added.
Photo: Huang Chien-hao, Taipei Times
EasyCard, the biggest electronic stored-value card in the nation, plans to launch the new service in the fourth quarter, Ting Chen (陳亭如), who was promoted to chairwoman last month, said in a statement.
The company plans to establish a virtual electronic payment platform to enable users to transfer funds and pay digitally with a few clicks, removing the restraint of time and place, she said.
EasyCard’s micropayment feature has been broadly rolled out in Taiwan’s public transit system and retail outlets, and the new service would strengthen its cooperation with these partners, the statement said.
Although the digital payment field is dominated by two major players — locally developed Jkopay Co (街口電子支付) and Line Pay, a wholly owned subsidiary of LINE Biz+ Taiwan Ltd (台灣連線) — EasyCard does not consider the two peers as its greatest rival, communication officer Chou Mei-li (周美里) told the Taipei Times by telephone yesterday.
“We think that cash is our biggest rival, and we have to provide a tool that is convenient enough for consumers to feel that they can only live with an electronic payment service,” Chou said.
Asked if the company would promote the new service by offering reward points, Chou said that EasyCard would release more details after setting up a preliminary mechanism.
Among the five electronic stored-value card firms, EasyCard accounts for 65 percent of the market in terms of the number of cards issued, with about 69.9 million cards in circulation as of December last year, commission data showed.
The company also accounted for 73 percent, or NT$5.61 billion (US$182 million), of total spending using electronic stored-value cards in December last year, the data showed.
HEAVY INVESTMENT: Moody’s affirmed the firm’s ‘Aa3’ rating with a ‘stable’ outlook due to its leading position in the industry and ability to match customer requirements Taiwan Semiconductor Manufacturing Co’s (TSMC, 台積電) revenue this year is expected to increase about 21 percent to NT$1.29 trillion (US$44.01 billion) from NT$1.07 trillion last year, driven by strong demand for advanced 5-nanometer and 7-nanometer chips mainly used in smartphones and high-performance computing devices, a Moody’s Investors Service report on Wednesday said. TSMC’s rate of revenue growth next year is to increase to 7.5 percent, the ratings agency said. The company, which supplies 5-nanometer chips for Apple Inc’s new iPad series, has introduced the advanced chips ahead of its competitors and gained a significant share of the market for the foundry industry’s
NO VIRUS BLUES: A SEMI Taiwan official said that the virus does not slow down the global semiconductor industry’s investment in manufacturing equipment The production value of the nation’s semiconductor industry is expected to grow 16.7 percent this year from last year, outpacing the global industry’s 3.3 percent growth, industry association SEMI said yesterday. That would help Taiwan safeguard its second spot in the global semiconductor market with a production value of more than NT$3 trillion (US$102.73 billion), SEMI Taiwan president Terry Tsao (曹世綸) told a media briefing in Taipei for the Semicon Taiwan trade show beginning today. The global semiconductor industry’s production value is expected to increase to US$426 billion this year, SEMI said. In terms of semiconductor equipment investment, equipment billings from Taiwanese firms
Intel Corp has received licenses from US authorities to continue supplying certain products to Huawei Technologies Co (華為), a company spokesman said yesterday. Washington has been pushing governments around to world to squeeze out Huawei, saying that the telecom giant would hand data to Beijing for espionage. From Monday last week, new curbs have barred US companies from supplying or servicing Huawei. This week, the state-backed China Securities Journal reported that Intel had received permission to supply Huawei. China’s Semiconductor Manufacturing International Corp (SMIC, 中芯國際), which uses US-origin equipment to make chips for Huawei and other companies, last week confirmed that it had sought
Taipei Times: When do you think the hospitality industry can return to how it was before the COVID-19 pandemic? How does Formosa International Hotels Group (FIH, 晶華酒店集團) fare this quarter and beyond? FIH chairman Steve Pan (潘思亮): The virus outbreak will have a serious impact on business travel, driven mainly by meetings, incentive travel, conferences and exhibitions over the past three decades. For the past six months, many businesspeople have grown used to exchanging information on the Internet, where more people can participate. The trend might sustain for three to five years until people are vaccinated and it is safe to