Taiwan’s EasyCard Chief: Open Loop Will Have Only ‘Marginal Impact’ on Island Nation
The head of Taiwan’s largest transit and retail stored-value card contends that open-loop payments will not make a significant impact on the island nation, given Taiwan’s strong closed-loop card programs and the expense of rolling out acceptance for credit cards and credentials.
Taiwan’s EasyCard Chief Sees Little Threat to Fare Payments Business from Fintechs
EasyCard Corp., Taiwan’s dominant transit e-purse, is not worried about fintechs taking away a significant share of its fare payments business and, in fact, is in talks to work with the country’s most popular e-payments fintech, Jkopay, the head of EasyCard said.
Taiwan’s Dominant Transit Purse Struggles with New E-Payments Landscape
EasyCard Corp. remains the dominant contactless stored-value card in Taiwan, boasting market shares of nearly three-quarters of transit fare payments and retail transactions nationally amid competition from three other contactless closed-loop cards that vie for transit and low-value retail transactions across the island nation.
More Open-Loop Transit Payments Services to Launch in Taiwan
Taiwan’s airport train service will begin accepting Visa- and Mastercard-branded credit cards starting in January 2020, making it the second mass-transit service on the island nation to support open-loop payments for fares.