Apple pay launches in Taiwan

Apple's mobile payment service Apple Pay has officially launched in Taiwan. Apple Pay allows its users to make payments for purchases in stores or online with iPhones and Apple watches.

The Finance Supervisory Commission (FSC) is allowing ten Taiwanese banks to apply to join the service. As of Wednesday, the date of the launch, seven banks have made the service available to their customers.

Deputy head of the FSC's banking bureau Chuang Hsiu-yuan said Wednesday Apple device users must keep their devices close, since they now function as credit cards. Chuang also said that Apple phones are safer compared to mobile devices from other brands because they allow users to locate their phone if it is lost.

Meanwhile, National Taxation Bureau Director-General Lee Ching-hua said Apple Pay contains detailed records of its users' transactions, including receipts. Lee said the feature will allow the bureau to calculate taxes.

Source: Radio Taiwan International