BAD CALL:Former Financial Supervisory Commission chairman Chen Yuh-chang had been remiss in 2013 when he refused to allow non-financial companies to offer online payment services
Date: Oct 27, 2016
By: Kuo Chia-erh / Staff reporter
PChome InterPay (國際連), a wholly owned subsidiary of PChomePay (支付連), yesterday launched a
third-party payment and online financing service.
PChome InterPay, with a paid-in capital of NT$501 million (US$15.88 million), said that its service would allow tens of millions of customers within subsidiaries of PChome Online Inc (網路家庭) to directly store money and make transactions with third-party payment accounts instead of using credit cards or bank accounts.
The company said in a statement that it would introduce the service to 8.8 million users at PChome subsidiary Ruten.com (露天拍賣) and expand its customer base to include PChome’s other subsidiaries — such as PChome Store Inc (商店街市集) — in the near future.
“E-commerce business in Taiwan has great potential, but the legal framework [for third-party payments] was not fully established until last year,” PChome chairman Jan Hung-tze (詹宏志) told a news conference in Taipei, referring to the legislature’s approval of amendments to the Electronics Payment Processing Institutions Act (電子支付機構管理條例). [FULL STORY]