TwMP adds debit cards to mobile payment app


By Kuan-lin Liu, The China Post

TAIPEI, Taiwan — Taiwan Mobile Payment Co., LTD (twMP) hosted a press conference at Taipei World Trade Center to promote its mobile payment app, Monday.

For this year’s IT month, twMP partnered with Financial Information Service Co., Ltd (FISC) and the Taiwan Clearing House to showcase its t wallet + host-based card emulation (HCE) mobile credit card and to release new details about its much-anticipated HCE mobile debit card.

TwMP Chairman Zhao Yang-ching (趙揚清) took to the stage and in three words — “click, tap, beep” — succinctly described how to use the t wallet + app.

Zhao counted an estimated 120,000 near-field communication (NFC) readers in Taiwan and 2.6 million worldwide, where the app can be used to purchase items.

Looking ahead to next year, Zhao said the t wallet +, which currently features MasterCard and Visa credit cards, would expand to include debit cards and JCB credit cards.

Huang Yu-cheng (黃昱程), the executive vice president of FISC, said twMP was the first in Taiwan to add this “unique feature (the HCE mobile debit cards)” to a mobile wallet.

The much-anticipated release of the HCE mobile debit card function will debut next January and is promising convenience as its biggest point of attraction.

With the HCE mobile debit card, users can “shop, withdraw money and transfer money, and pay bills and taxes” just by clicking, tapping, and beeping their phones, Huang said. ‘20,000 users by year’s end’ TwMP has partnered with 15 banks for its MasterCard HCE mobile credit cards and seven banks for its VISA HCE mobile credit cards.

Zhao characterized the growth of the app by saying, “There are about 200 new users of the app from every partnering bank each week.”

With the rate at which the app is being downloaded and used, Zhao said she expected the number of users to total 20,000 by the end of the year and that it would continue to grow at 200 users per bank per week well into the first quarter of 2017. Usage Rate in Taiwan Mobile payment is still in its early stages of adoption in Taiwan.

Like the switch from cash to credit cards, Huang explained, “The switch (to mobile wallets) could take between 10 and 20 years.” When asked about security concerns that may turn people off to the idea of mobile payments, twMP’ Assistant Specialist Emilia Chen (陳盈臻) said HEC technology gave each transaction a mobile card number instead of using an actual credit card number. This encryption system would help to prevent credit card fraud, she said.

Furthermore, unlike old models of mobile payment, HEC technology does not require an additional SIM card, thereby more safely and conveniently transferring the data directly to the host CPU of the mobile device, Chen said.