The Ministry of Economic Affairs yesterday launched a NT$440 million (US$14.24 million) nationwide mobile payments rewards program in cooperation with several mobile payment service firms to stimulate domestic commerce as mobile payment options continue to lure Taiwanese.
Mobile payment transactions have increased more than threefold from NT$14.8 billion in 2017 to NT$47.8 billion last year, data compiled by the Financial Supervisory Commission (FSC) showed.
The government-subsidized program involving Taiwan Pay, Line Pay, Jkos Pay (街口支付) and mobile wallet app Pi (Pi拍錢包) offers payment rewards of 15 to 20 percent with a maximum of NT$1,000 per account per month, the ministry said.
The rewards are redeemable through purchases made with the mobile payment systems at more than 200 shopping districts and stores nationwide, the ministry said.
The ministry has also provided another NT$300,000 in subsidies to encourage stores and shopping districts to develop distinguishing features to attract more consumers, it said.
The program would last until the end of the year and the rewards could vary depending on payment systems, time and region, it said.
However, some transactions such as deposits, cigarette purchases, bill payments, money transfers and fee collections are not included in the program, the ministry said.
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