Taiwan’s Domestic Debit Network to Launch Token Service Provider

Mar 29 2017

NFC TIMES Exclusive – TAIPEI, Taiwan: A number of Taiwanese banks plan to enable customers to load their debit card credentials into an HCE-enabled mobile wallet app starting this month, following the launch last year by the banks of HCE-enabled credit card payments, NFC Times has learned.

One difference, however, will be the fact that the debit cards will be tokenized domestically with an EMVCo-compliant token service provider from a joint venture owned by the banks. UPDATE. The token service provider won't be ready until next month. And the banks still need approval from financial regulators to roll out the HCE-enabled debit cards. That approval is expected by next month. END UPDATE.

As the launch of Apple Pay looms in Taiwan, the local banking joint venture, Taiwan Mobile Payment Co., is expected to announce the debit card project along with up to 20 banks next week, probably on Wednesday, NFC Times has learned. The launch will target the venture's own mobile wallet app for Android phones.

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