Taiwan Government Takes Bank Applications to Offer Apple Pay

Discussion in 'iOS Blog Discussion' started by MacRumors, Sep 30, 2016.

  1. MacRumors macrumors bot

    MacRumors

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    Taiwan's Financial Supervisory Commission has begun accepting applications from the country's banks for offering Apple Pay to their customers, according to a report out today (via DigiTimes).

    The mobile payment service will initially be limited to the use of credit cards, although other financial card systems like debit cards are expected to be allowed at a later date.

    Apple Pay is expected to be provided by Taiwan's four big banks - CTBC Bank, Cathay United Commercial Bank, E.SUN Commercial Bank, and Taishin International Bank. Customers should be able to apply to use Apple Pay at the end of the year at the earliest.

    Last month, Taiwan became joint-third in line with Switzerland to adopt Apple's carrier billing feature for iTunes users, allowing them to charge app and media transactions directly to their cellphone bill.

    Apple debuted the billing scheme in Germany back in October 2015, before rolling it out to users in Russia a month later. Apple is likely to continue to expand the initiative to more countries as it seeks to secure deals with carriers for lower transaction handling rates.

    Article Link: Taiwan Government Takes Bank Applications to Offer Apple Pay
     
  2. Robert.Walter macrumors 65816

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    "Apple is likely to continue to expand the initiative to more countries as it seeks to secure deals with carriers for lower transaction handling rates."

    What does this even mean?
     
  3. WRChris macrumors 6502a

    WRChris

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    I wish my bank offered Apple Pay. Only my credit cards can work with Apple Pay and I hate using them
     
  4. JRobinsonJr macrumors 6502a

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    Interesting. Any idea what, exactly, this means? Customer can't just *use* Pay? They have to apply for some type of license from the government?
     
  5. TheAppleFairy macrumors 68020

    TheAppleFairy

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    When you use Apple Pay, your bank gives Apple a cut of that interchange fee. As discussed earlier, in the US Apple gets about 15 cents per $100 transaction, and the interchange fee can vary between 1-3%
     
  6. kdarling macrumors P6

    kdarling

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    The article is actually about two different things. The first part is about Apple Pay.

    The last couple of paragraphs are about Taiwanese coincidentally being able to bill iTunes purchases to their monthly carrier bill.

    The carriers take a cut of that, and of course Apple wants to pay the carriers as little as possible (in the same way that banks want to pay Apple as little as possible for Apple Pay).

    It's likely just another way of saying people will be able to try to register their cards.
     
  7. wowotoe macrumors member

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    Like in the US, I think user needs to register the credit card in the phone, in the term 'Apply'. Also, another reason it takes this long (if I understand it correctly) is Taiwan financial rules require card transactions to be within the country. In Apple Pay's case, it routes to outside of the country. So it looks like they overcome the technicals.

    I've been using my US credit cards with Apple Pay here in Taiwan for over a year already. Almost anywhere that accepts NFC transaction on Visa/Master will accept Apple Pay. And they do have lots of these terminals because many local credit cards have built-in NFC. So the infrastructure is already here.
     

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