Premier Chang San-cheng announced today that the government has agreed to allow Apple Pay and other international mobile-payment services to operate in Taiwan, and that tokenization services will not be restricted to domestic token solution providers (TSPs). However, Taiwanese card holders conducting transactions in Taiwan must in accordance with the nation's law have their accounts settled in the country.
In order to provide consumers with diverse choices, the Financial Supervisory Commission (FSC) should demand international mobile-payment operators collaborate with domestic operators of non-credit-card payment services, such as those of debit cards, electronic farecards, and third-party payment, Chang instructed. The objective of this collaboration is to enable both international and domestic service providers to deliver their services online, while allowing domestic operators to use their own mobile equipment. Moreover, the FSC must work to relax relevant laws and regulations.
Chang reiterated that in order to assist domestic TSP development, the FSC must coordinate with international mobile-payment operators and international credit card organizations to collaborate with domestic TSP companies as soon as possible on matters like token technology, systems interfacing and accreditation.