Taiwan News
Date: 2015-11-03
By: Central News Agency

Taipei, Nov. 3 (CNA) The Financial Supervisory Commission (FSC,) said Tuesday that Taiwan’s consumers will be allowed to conduct third-party online payments with Easycard  and other registered prepaid cards.

The Legislative Yuan passed the amendment to the Act Governing Issuance of Electronic Stored Value Cards in June that authorizes Easycard and three other existing electronic stored value cards to conduct third-party online payments, according to the FSC. The amendment builds on another bill passed by the Legislature in January that provided a legal basis for local companies to run third-party online payment businesses, the FSC added.

Easycard, which is issued by Easycard Corp., is one of the cards that will be allowed to offer third-party payment services. It is currently used primarily to pay MRT and bus fares and make purchases — worth a maximum of NT$1,000 (US$31) per transaction and NT$3,000 per day — in convenience stores and other authorized shops.     [FULL  STORY]