Largest mo­bile pay­ment plat­form opens for business

The China Post - - TAIWAN BUSINESS - BY ENRU LIN

Tai­wan Mo­bile Pay­ment Co. ( ) l aunched Tai­wan’s largest mo­bile com­merce plat­form yes­ter­day with 32 par­tic­i­pat­ing fi­nan­cial in­sti­tu­tions plus EasyCard.

Through the new plat­form, users can make pay­ments by tap­ping their smart­phone on a nearfield com­mu­ni­ca­tion (NFC) reader at par­tic­i­pat­ing re­tail­ers.

Pay­ments will be pro­cessed through Tai­wan Mo­bile Pay­ment Co.’ s trusted ser­vice man­ager (TSM), a sys­tem that al­lows providers to se­cure data han­dling, said Tai­wan Mo­bile Pay­ment Co. Gen­eral Man­ager Pan Wei-jong (

) yes­ter­day. Sub­scribers can make pay­ments at over 30,000 lo­cal stores and over­seas shops via Visa and MasterCard.

Par­tic­i­pat­ing re­tail­ers in­clude RT Mart ( ), BLT Burger, Mr. Brown Cof­fee and G2000.

EasyCard Corp. said yes­ter­day that the EasyCard op­tion will be avail­able in the first half of next year.

First by Chunghwa Tele­com

In its soft open­ing, mo­bile phone pay­ment is avail­able im­me­di­ately through 18 fi­nan­cial in­sti­tu­tions to sub­scribers of 3G or 4G pro­vided by Chunghwa Tele­com ( ) only.

Four­teen more fi­nan­cial in­sti­tu­tions and the mo­bile ser­vice providers Tai­wan Mo­bile ( ), Far EastTone ( ) and Asia Pa­cific Tele­com ( ) are ex­pected to of­fer the plat­form next year.

Also yes­ter­day, Tai­wan Mo­bile Pay­ment Co. launched the plat­form’s smart­phone in­ter­face, ti­tled “tw wal­let” (tw wal­let

).

In­struc­tions

To ac­cess the sys­tem, users down­load the “tw wal­let” app and out­fit a smart­phone with a SIM card or an SD mem­ory card.

Af­ter­ward, the smart­phone can act as a debit card, credit card, a bank ac­count or a pub­lic tran­sit ticket like EasyCard at par­tic­i­pat­ing brick-and-mor­tar re­tail­ers via an NFC sys­tem.

The smart­phone can also be used to make on­line pur­chases via text mes­sage.

Cur­rently about 20 smart­phones are com­pat­i­ble with the sys­tem, mainly on the An­droid op­er­at­ing sys­tem but in­clud­ing the iPhone 5 and 6.

Largest Mo­bile Pay­ment

Plat­form

Tai­wan cur­rently has three mo­bile pay­ment sys­tems, and Tai­wan Mo­bile Pay­ment Co. the largest in scale.

Smart Catch In­ter­na­tional Co. Ltd. ( ) be­gan of­fer­ing mo­bile pay­ments last Septem­ber through Union Bank, and Al­liance Dig­i­tal Tech Co. ( ) is ex­pected to launch in next year’s sec­ond quar­ter with three par­tic­i­pat­ing fi­nan­cial in­sti­tu­tions.

Tai­wan Mo­bile Pay­ment Co. was es­tab­lished on Sept. 5 by three Tai­wanese pro­cess­ing in­sti­tu­tions, 32 banks and EasyCard Corp.

The ser­vice for­mally opened for business yes­ter­day, after gain­ing ac­cred­i­ta­tion from Visa and Mastercard in early De­cem­ber.

is cur­rently

Enru Lin, The China Post

A Fam­i­lyMart em­ployee demon­strates the Tai­wan Mo­bile Pay­ment Co. plat­form in Taipei, yes­ter­day. The sys­tem, which for­mally launched yes­ter­day, turns se­lect smart­phones into an elec­tronic wal­let.

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