Largest mobile payment platform opens for business
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
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
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.
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.