2019-03-11
E-Payments Regulations May be Relaxed
Taiwan's Financial Supervisory Commission is currently working on merging the two sets of rules regulating “Electronic Stored Value Cards” and “Electronic Payments”. This change will enable e-payment users to transfer money among different e-payments services, and will allow the operation of various derived businesses, such as e-paying for restaurant certificates.
One advantage of paying for restaurant certificates by electronic services will be that in the event that the restaurant goes out of business, the money remitted will still be refundable, as the money is still held by an e-payment platform.
The Financial Supervisory Commission official states that after the merging of the two sets of regulations, the industries will better be able to expand their businesses. In addition, virtual payments are expected to become more efficient.
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