The Financial Supervisory Commission yesterday said that it has asked Financial Information Service Co Ltd (FISC, 財金公司) to set up a virtual platform to integrate all services provided by the nation’s 29 electronic payment companies.
For example, through the platform, users of Line Pay Co (連加網路) would be able to transfer funds into accounts of users at other electronic payment service companies, such as JKo Pay (街口支付), the commission said.
Currently, users can only transfer funds to accounts at the same service provider, Banking Bureau Deputy Director-General Huang Kuang-hsi (黃光熙) said.
All electronic payment companies would also share their partner shops, which means that users could use Line Pay at shops that previously cooperated only with JKo Pay, Huang said, adding that the FISC would help settle the handling fees.
“The integration would make consumers more willing to use electronic payment services, as they would be able to spend conveniently in more shops,” Huang said.
Despite concerns that some companies would not want to participate in the platform and share their information with their rivals, no companies had objected to the proposal or expressed a lack of willingness to join the scheme at a meeting last week, Huang said, adding that the companies agreed that they would benefit from having more partners.
There would be a settlement institution to address the flow of funds between different electronic payment companies, he said.
How the companies share the handling fees would still need to be discussed, he added.
The platform would also enable consumers to transfer funds from their electronic payment accounts back to their bank accounts, Huang said, adding that consumers can currently only transfer money from bank accounts to virtual tools.
The commission early last month amended the Act Governing Electronic Payment Institutions (電子支付機構管理條例) to enable the implementation of the platform, Huang said.
If the Legislative Yuan passes the amendment this legislative session, the platform could be launched at the beginning of next year, he added.
SEEKING CLARITY: Washington should not adopt measures that create uncertainties for ‘existing semiconductor investments,’ TSMC said referring to its US$165 billion in the US Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) told the US that any future tariffs on Taiwanese semiconductors could reduce demand for chips and derail its pledge to increase its investment in Arizona. “New import restrictions could jeopardize current US leadership in the competitive technology industry and create uncertainties for many committed semiconductor capital projects in the US, including TSMC Arizona’s significant investment plan in Phoenix,” the chipmaker wrote in a letter to the US Department of Commerce. TSMC issued the warning in response to a solicitation for comments by the department on a possible tariff on semiconductor imports by US President Donald Trump’s
‘FAILED EXPORT CONTROLS’: Jensen Huang said that Washington should maximize the speed of AI diffusion, because not doing so would give competitors an advantage Nvidia Corp cofounder and chief executive officer Jensen Huang (黃仁勳) yesterday criticized the US government’s restrictions on exports of artificial intelligence (AI) chips to China, saying that the policy was a failure and would only spur China to accelerate AI development. The export controls gave China the spirit, motivation and government support to accelerate AI development, Huang told reporters at the Computex trade show in Taipei. The competition in China is already intense, given its strong software capabilities, extensive technology ecosystems and work efficiency, he said. “All in all, the export controls were a failure. The facts would suggest it,” he said. “The US
The government has launched a three-pronged strategy to attract local and international talent, aiming to position Taiwan as a new global hub following Nvidia Corp’s announcement that it has chosen Taipei as the site of its Taiwan headquarters. Nvidia cofounder and CEO Jensen Huang (黃仁勳) on Monday last week announced during his keynote speech at the Computex trade show in Taipei that the Nvidia Constellation, the company’s planned Taiwan headquarters, would be located in the Beitou-Shilin Technology Park (北投士林科技園區) in Taipei. Huang’s decision to establish a base in Taiwan is “primarily due to Taiwan’s talent pool and its strength in the semiconductor
French President Emmanuel Macron has expressed gratitude to Hon Hai Precision Industry Co (鴻海精密) for its plan to invest approximately 250 million euros (US$278 million) in a joint venture in France focused on the semiconductor and space industries. On his official X account on Tuesday, Macron thanked Hon Hai, also known globally as Foxconn Technology Group (富士康科技集團), for its investment projects announced at Choose France, a flagship economic summit held on Monday to attract foreign investment. In the post, Macron included a GIF displaying the national flag of the Republic of China (Taiwan), as he did for other foreign investors, including China-based