Banks back government-led Taiwan Pay QR payments service

Banks offer ministry’s Taiwan Pay services — Taipei Times — “Taiwan Pay aims to provide more convenient, quicker payment services using QR code technology via smartphones, which have become a necessity in daily life,” deputy minister of finance Su Jain-rong told a news conference… The ministry spearheaded the development of Taiwan Pay to help the nation become a regional technology hub and to compete with Apple Pay, Samsung Pay and Android Pay.”

  • QR tags have the advantage over NFC that they will work with far more mobiles than any of the three proprietary systems and that they can be implemented on most ATMs and many point of sale devices with software only, no hardware change required. The widespread adoption of this technology in Asia might encourage the proprietary systems to open themselves to more devices.