Local banks’ combined lending and investment in China as of the end of June fell 6.4 percent to NT$1.46 trillion (US$52.3 billion) from NT$1.56 trillion a year earlier, Financial Supervisory Commission (FSC) data showed on Friday.
Bank of Taiwan (臺灣銀行) lowered its exposure to China to NT$50 billion from NT$81 billion a year earlier, the largest cut among all Taiwanese banks, pushing down its ratio of exposure to China from 22 percent a year earlier to 13 percent, the data showed.
The seven other state-run banks also slashed their exposure to the country.
Mega International Commercial Bank (兆豐銀行) reduced its exposure by NT$20
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Rakuten International Commercial Bank Co (樂天國際銀行) is partnering with Pi Mobile Technology Inc (拍付國際) on mobile payments by integrating Pi’s mobile wallet into its banking app, the Web-only bank said on Thursday.
Rakuten said its new cashless service would be available at supermarkets, convenience stores, department stores, pharmacies and online stores.
The Pi mobile wallet links to users’ credit cards, debit cards or bank accounts.
Payments are limited to NT$50,000 per use, NT$100,000 per day and NT$200,000 per month, the bank said.
“We need to expand our ecosystem if we want to be as successful as our affiliate, Japan’s Rakuten Bank,” Rakuten International chief
Data show rise of uptake of digital savings accounts
By Kao Shih-ching / Staff reporter
There were 7.28 million digital savings accounts in Taiwan as of the end of March, up 12.7 percent from a quarter earlier, Financial Supervisory Commission data showed on Tuesday.
Taishin International Bank (台新銀行) retained top spot with 2.49 million accounts for its Richart online service, up 5.5 percent from 2.36 million at the end of last year, the data showed.
Cathay United Bank (國泰世華銀行) was second with 1.12 million accounts, up 15.8 percent from a quarter earlier, the data showed.
A person holds a smartphone to allow the Line Pay application to be scanned in an undated photograph. There were 7.28 million digital savings accounts in Taiwan as of the end of March, up 12.7 percent from a quarter earlier, Financial Supervisory Commission data showed on Tuesday.
Rakuten launches 12 new services
By Kao Shih-ching / Staff reporter
Web-only Rakuten International Commercial Bank Co (樂天國際銀行) on Monday announced that it would be launching 12 new services.
The bank began operations in January, enabling clients to open digital bank accounts and take personal loans online.
Among its new services, customers would now be able to transfer up to NT$2 million (US$71,078) at a time if they have linked a predesignated account, Rakuten said in a statement.
Rakuten International Commercial Bank chief executive officer Kazuhiko Saiki holds a phone displaying the bank’s app at an event in Taipei on Sunday. The Web-only bank on Monday announced that it would be launching 12 new services.