Aug
9
A woman iews Bank SinoPac’s 3rd party payment service on a smartphone. (Photo/ Bank SinoPac)
Taiwan’s Financial Supervisory Commission (FSC) said Friday that the FSC has received 11 applications to secure a license to launch their third party payment processing services.
The FSC, the top financial regulator in Taiwan, said that the 11 applicants are two non-banking entities and nine financial institutions.
The two non-banking applicants are Pay2go a subsidiary of online game software developer Soft-World International, and Gash Plus owned by Gamania Group, which is also an online game software firm.
The nine financial applicants are Chunghwa Post, Bank of Taiwan, E. Sun Commercial Bank, Shin Kong Bank, CTBC Bank, Bank SinoPac, Yuanta Commercial Bank, First Commercial Bank and Ta Chong Bank.
Taiwan’s Legislative Yuan passed the Electronic Payment Processing Institutions Act on Jan. 16, a move which has provided a legal basis for third-party payments in the current booming e-commerce business.
With the exception of Ta Chong Bank, the other eight banking applicants have begun third party payment services even before lawmakers passed the law. Now, the eight simply need to apply for licenses to continue their particular operations.
The company allPay Third-Party Payment, which also launched its third party payment services before the law’s passage, is expected to file an application soon to secure a license, according to market sources.
The recently passed act stipulates that e-payment service providers are required to have paid-in capital of NT$500 million (US$15.8 million) or more, while companies that launch third-party payment collection and transfer businesses will be required to have paid-in capital of NT$100 million (US$3 million).
In late July, the FSC said that it is planning to issue third party payment licenses at the end of August. On Friday, the commission said that it will do its best to review the applications and award the licenses as soon as possible.
References:
Pay2go Co. 智付寶股份有限公司
Soft-World International Corp. 智冠
Gamania Group 橘子遊戲
Gash Plus 樂點
Chunghwa Post Co., 中華郵政
Bank of Taiwan 台灣銀行
E. Sun Commercial Bank 玉山銀行
Shin Kong Bank 新光銀行
CTBC Bank 中國信託銀行
Bank SinoPac 永豐銀行
Yuanta Commercial Bank 元大銀行
First Commercial Bank 第一銀行
Ta Chong Bank 大眾銀行
Electronic Payment Processing Institutions Act 電子支付機構管理條例
allPay Third-Party Payment Co. 歐付寶第三方支付股份有限公司
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