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FSC rejects EMQ Taiwan s remittance application

FSC rejects EMQ Taiwan s remittance application
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E-payment across systems might start next quarter

E-payment across systems might start next quarter By Kao Shih-ching / Staff reporter Users of different electronic payment services, such as those by Jkopay Co (街口支付) and Line Pay Money, would from next quarter be able to transfer money across systems via a new platform, the Financial Supervisory Commission said on Thursday. The commission announced that amendments to the Act Governing Electronic Payment Institutions (電子支付機構管理條例) are to take effect from July 1, allowing money transfers across different e-payment providers. The commission has assigned the Financial Information Service Co (財金公司) to set up a virtual platform to enable the transfer, with state-run Taiwan Cooperative Bank (合庫銀行) assigned to address the flow of funds between different e-payment companies, it said.

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