Rakuten International Commercial Bank Co (樂天國際銀行) is partnering with Pi Mobile Technology Inc (拍付國際) on mobile payments by integrating Pi’s mobile wallet into its banking app, the Web-only bank said on Thursday.
Rakuten said its new cashless service would be available at supermarkets, convenience stores, department stores, pharmacies and online stores.
The Pi mobile wallet links to users’ credit cards, debit cards or bank accounts.
Payments are limited to NT$50,000 per use, NT$100,000 per day and NT$200,000 per month, the bank said.
“We need to expand our ecosystem if we want to be as successful as our affiliate, Japan’s Rakuten Bank,” Rakuten International chief executive officer Kazuhiko Saiki said in a statement. “Working with a local partner to provide mobile payment services should be a good approach.”
Pi Mobile, a subsidiary of e-commerce company PChome Online Inc (網路家庭), has seen its number of mobile wallet users surpass 1 million, and more than 350,000 stores accept the payment tool, PChome chief executive officer Kevin Tsai (蔡凱文) said.
PChome and Rakuten Group Inc have routinely shared their marketing experience for two years, and the latest partnership would help bolster their long-term collaboration, the statement said.
Rakuten International said it plans to introduce the new payment service at Taoyuan International Baseball Stadium, the home of its affiliate CPBL baseball team, the Rakuten Monkeys, by the end of this year.
Meanwhile, another Web-only bank, Line Bank Taiwan Ltd (連線商業銀行), on Thursday announced that it would offer installment loans to people who might have higher demand for funds during tax season.
The interest rates would be set at a low of 1.88 percent, it said in a statement.
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