Taiwan Pay has launched a new QR Code system that allows you to use your mobile device as a credit card.
Mobile payment is becoming increasingly popular in Taiwan, as more and more people enjoy the convenience of going out cashless.
Taiwan Pay, the country’s largest mobile payment company, launched a new QR Code system on Thursday. The system is the result of a collaboration of the Ministry of Finance, together with Visa and a number of local banks. From November, members of the public will be able to use the system to pay with their phones.
Finance minister Su Jian-Rong said at the launch that the new system will be a universal standard, and that users will no longer need to keep several mobile pay systems running on their phone. The system will allow them to pay anywhere they travel to truly enjoy the essence of a mobile lifestyle.
A total of 22 banks will make their credit compatible with the new program. It is estimated that close to 90% of credit card holders will be able to enjoy the new service.
