TAIPEI (TVBS News) — Taiwan's financial regulator stepped in firmly on Monday (July 14) amid an escalating corporate battle between JKO FinTech Co., Ltd (街口金融科技) and Taisun Enterprise Co., Ltd. (泰山企業). The Financial Supervisory Commission (FSC, 金管會), Taiwan's top financial watchdog, pledged heightened vigilance to protect millions of consumers caught in the crossfire of the high-stakes ownership dispute.
The corporate conflict has created turmoil for JKOS Pay (街口支付), one of Taiwan's largest digital payment platforms serving more than 6.5 million users. Service disruptions hit the platform on July 11 following a court-ordered asset freeze related to the ownership struggle. Major e-commerce partners including momo, PChome Online (PChome網家), and ET Mall (東森購物) temporarily suspended JKOS Pay transactions before restoring services later that evening.
Regulatory oversight intensified on July 12 when authorities mandated JKOPay to provide daily operational reports to the FSC for at least seven days. These reports must include comprehensive details on account balance fluctuations, payment processing activities, and updates on merchant relationships. While characterizing the investment conflict as a private civil dispute, regulators noted that JKOPay had alerted the Banking Bureau (銀行局) about the situation on July 10 and faces a July 21 deadline to deliver a comprehensive written assessment.
Financial regulators emphasized that JKOPay must maintain strict compliance with the Act Governing Electronic Payment Institutions (電子支付法), which requires third-party custodianship of all consumer funds. The payment platform has publicly confirmed that user deposits and pending merchant settlements average approximately NT$40 billion (about US$1.37 billion) daily. Consumer confidence appears to be gradually recovering as retail partners across Taiwan resume accepting the digital payment method. ◼