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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 ....
Line Bank report on crash not satisfactory: regulator By Kao Shih-ching / Staff reporter A report by Web-only Line Bank Taiwan Ltd (連線商業銀行) explaining why its information system crashed on the first day of operation was not satisfactory and the Financial Supervisory Commission (FSC) would demand that the bank improve its operations, commission Chairman Thomas Huang (黃天牧) said yesterday. The commission on April 23 asked the virtual bank to submit a report on the crash and the lender has submitted it, Huang told a meeting of the legislature’s Finance Committee in Taipei. “However, we cannot completely accept the report,” Huang said. Signage for Line Bank Taiwan Ltd is displayed at the company’s headquarters in Taipei yesterday. ....
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. ....
Line Bank Taiwan Ltd (連線商業銀行), the nation’s second Web-only bank, launched on Thursday, but promptly drew a rebuke from the regulator after its system crashed. The virtual bank launched its banking service, integrated into the messaging app Line offered by its affiliate Line Taiwan Ltd (台灣連線), at about 5pm on Thursday, but users said they could not access the service. People who clicked on its Web page were greeted by either a blank page or a “server is busy” message. That was contrary to the bank’s claims that people would be able to open an account within six minutes and its promise ....