TAIPEI (TVBS News) — The Financial Supervisory Commission (金管會, FSC) is planning to revise regulations to allow the binding of electronic payments for use on delivery platforms like Uber Eats and foodpanda, as well as taxi and parking service platforms, announcing the draft amendments on Thursday (June 27).
Regulatory Revisions and Implementation
The accumulated balance of payments reached NT$60.73 billion in the first four months of this year. After the FSC completes the regulatory amendment process, the Bankers Association of the Republic of China will further revise its self-discipline rules to complete supporting measures, with the official launch expected in the fourth quarter of this year.
Key Amendments and Future Prospects
Consumers will be able to bind electronic payments for consumption on websites like the App Store, Google Play, Agoda, or Booking.com, in addition to using credit cards.
In the future, consumers using delivery, taxi, and parking service platforms can expect to use electronic payments like JKo Pay and Easycard, in addition to cash, credit cards, or third-party payments like LINE Pay.
Banking Bureau Deputy Director Phil Tong (童政彰) explained that considering the economic scale of these platforms, the commission has chosen to open up these three types of platforms for binding electronic payments, and will review whether to further relax the rules in the future.
The third amendment allows banks that concurrently operate electronic payment businesses to return to the "Regulations Governing Internal Operating Systems and Procedures for the Outsourcing of Financial Institution Operation," meeting the needs for cloud services or Office365. The FSC has also added regulations for dedicated electronic payment institutions to use cloud services, ensuring regulatory consistency.