LINE Pay has obtained electronic payment establishment permission and is expected to become the tenth specialized operator.
The Financial Supervisory Commission of Taiwan issued a press release yesterday (7/17), officially granting permission for Lianjia Network Business Co., Ltd. (LINE Pay) to apply for the establishment of a specialized electronic payment institution. The company name is 'Lianjia Electronic Payment Co., Ltd.', and it can start providing related services after obtaining a business license.
According to (Central News Agency) reports, LINE Pay Money's paid-in capital has reached 500 million yuan. According to the regulations for electronic payment institutions, it must apply for a business license from the Financial Supervisory Commission within 6 months and start operations within six months after obtaining the license.
If the license is successfully obtained, LINE Pay Money will become Taiwan's 10th specialized electronic payment institution. Currently, there are 9 specialized electronic payment institutions and 20 combined electronic payment institutions in Taiwan.
Source: Financial Supervisory Commission LINE Pay has obtained electronic payment establishment permission and is expected to become the tenth specialized operator.
What is the difference between LINE Pay's transition from third-party payment to electronic payment?
According to (Liberty Times) reports, LINE Pay was previously just a third-party payment provider, primarily allowing consumers to make payments through linked credit cards.
The electronic payment service is similar to platforms like iPASS Money and Jkopay, allowing not only credit card use but also creating an online virtual wallet for users, directly connecting to bank accounts for deposits, withdrawals, or transfer operations, functioning like a mini bank account.
LINE Pay announces 5 major functions
LINE Pay officially announced that after the formal operation of electronic payment services, new registered users in the future will be able to seamlessly use 5 main functions: 'LINE friend transfer', 'link bank account for recharge', 'life payment and ride code service', 'one-click transfer of existing credit cards', 'support for LINE POINTS usage and rewards'.
Source: LINE Pay LINE Pay announces 5 major functions for electronic payment.
Just separated from iPASS, LINE Pay quickly enters the electronic payment market.
LINE Pay obtained electronic payment establishment permission before it was just announced that it has separated from the long-time partner iPASS MONEY, which is expected to affect nearly 7 million users.
Starting from January 1, 2026, all iPASS MONEY functions currently existing in the LINE Pay wallet will be transferred to the independent APP of iPASS MONEY.
The main reason for the separation of iPASS MONEY and LINE Pay is LINE Pay's active application for electronic payment business permission. Once LINE Pay obtains approval for operating electronic payments, both platforms will operate independently according to relevant regulations.
Further reading:
iPASS MONEY and LINE will separate by the end of the year! See the impacts of friend transfers and payment functions at once.
According to (Economic Daily) reports, LINE Pay Chairman Ding Xiong pointed out that with the help of the supervisory authority, the application for LINE Pay electronic payment was successfully approved. This is an important achievement for the company in Taiwan's payment industry development and shows that LINE Pay's performance in regulatory compliance and risk management has been recognized by the government.
With the end of the cooperative relationship, the competition between LINE Pay and iPASS MONEY in Taiwan's electronic payment market will become more intense.
'Just separated from iPASS! LINE Pay obtained electronic payment establishment permission and announced 5 major functions' was first published in 'Crypto City'.
