Third-party payment draft bill: aiming to reach the Executive Yuan before the year ends

The Department of Commerce under the Ministry of Economic Affairs is expected to submit the draft bill of the third-party payment special act to the minister and deputy ministers before this week, and then send it to the Executive Yuan.

PChome Online Chairman Jan Hung-tze recently criticized that the draft third-party payment special act currently drafted by the Ministry of Economic Affairs is too conservative, including the NT$30,000 cap on stored-value amounts being too low, the NT$300 million minimum capital requirement for operating third-party payment stored-value business being too high, and the question of whether to further open up offline transactions.

The Ministry of Economic Affairs currently leans toward including collection services for public utility fees such as water and electricity bills within the scope of third-party payment business, but for other offline transactions, due to concerns about money laundering, the probability of further opening them up is estimated to be low.

On the other hand, since there is no cap on the amount of a single transaction for third-party payment services, whether the NT$30,000 stored-value cap will be raised is expected to most likely remain unchanged.

However, officials from the Ministry of Economic Affairs emphasized that matters such as the stored-value cap and operating capital requirement will be decided only after the draft bill is submitted to the minister and deputy ministers of the Ministry of Economic Affairs.

As for whether there is a chance to send the draft bill to the Executive Yuan before this week, officials said it is possible.

Since it was previously reported that Jan Hung-tze will pay a visit to the Ministry of Economic Affairs, officials pointed out that the time is set for the 27th, and it is expected that in addition to the third-party payment special act, the future direction of e-commerce development will also be discussed.