A new system established by Financial Information Service Co Ltd (FISC, 財金公司) is set to launch next month, allowing users to transfer money between different e-payment platforms, a change that would help boost digital payment transactions, the Financial Supervisory Commission said on Thursday.
The nation’s eight e-payment companies with full operational licenses are required to join the “cross-platform e-payment system” before the end of this month, the commission told a news conference.
The eight companies include the nation’s two largest e-payment companies — Jko Fintech Co (街口金融科技), the operator of Jko Pay (街口支付), which has 4.74 million users, and iPass Corp (一卡通票證), which cooperates with Line Pay Taiwan Ltd (連加網路商業) to offer Line Pay Money, which has 3.93 million users, commission data showed.
The other six firms are EasyCard Corp’s (悠遊卡公司) EasyWallet (悠遊付) with 1.19 million users, AllPay Financial Information Service Co (歐付寶) with 970,000 users, Uni-President Enterprises Corp’s (統一) iCash Pay with 640,000 users, Gama Pay (橘子支) with 380,000 users, ezPay (簡單付) with 54,000 users and PChome InterPay (國際連) with 35,000 users, the data showed.
All eight e-payment service providers have run tests of their interfaces with the FISC system and they are expected to join on time, the commission said.
Should all eight e-payment companies join the system successfully, their combined 12 million users would benefit, as they would be able to transfer money more conveniently, it said.
Currently transfers between e-payment users is only viable when the users use the same e-payment service provider — a Jko Pay user cannot currently transfer money to a user of Line Pay Money.
This is inconvenient, as people do not want to manage multiple accounts on a variety of different e-payment platforms, the commission said.
The amount of transfers made by e-payment users totaled NT$5.52 billion in July, up 6.36 percent month-on-month, and it is projected to rise when the FISC system is launched, it said.
The handling fee per transfer has not been finalized, but it would be no higher than the NT$15 fee charged for bank transfers, the commission said.
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
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
An earnings report from semiconductor giant and artificial intelligence (AI) bellwether Nvidia Corp takes center stage for Wall Street this week, as stocks hit a speed bump of worries over US federal deficits driving up Treasury yields. US equities pulled back last week after a torrid rally, as investors turned their attention to tax and spending legislation poised to swell the US government’s US$36 trillion in debt. Long-dated US Treasury yields rose amid the fiscal worries, with the 30-year yield topping 5 percent and hitting its highest level since late 2023. Stocks were dealt another blow on Friday when US President Donald
UNCERTAINTY: Investors remain worried that trade negotiations with Washington could go poorly, given Trump’s inconsistency on tariffs in his second term, experts said The consumer confidence index this month fell for a ninth consecutive month to its lowest level in 13 months, as global trade uncertainties and tariff risks cloud Taiwan’s economic outlook, a survey released yesterday by National Central University found. The biggest decline came from the timing for stock investments, which plunged 11.82 points to 26.82, underscoring bleak investor confidence, it said. “Although the TAIEX reclaimed the 21,000-point mark after the US and China agreed to bury the hatchet for 90 days, investors remain worried that the situation would turn sour later,” said Dachrahn Wu (吳大任), director of the university’s Research Center for
RSS