Taiwan Cooperative Bank Partners with Visa to Offer QR Code Payments

Taiwan Cooperative Bank has teamed up with Visa to implement Taiwan’s first standardised and EMV-compliant QR code payment service. The new solution will be among the first large-scale deployments of standardised QR Code payments in Taiwan, and will cover more than 8,000 TCB acceptance points. The tie-up will allow TCB Visa credit card holders to sync their cards with the Taiwan Mobile Payment app and pay by scanning QR codes at checkout, a solution which is increasingly gaining popularity in the market. The partnership will also allow users to scan a QR code when paying credit card bills, utilities, insurance premiums, tuition fees, flight tickets, taxes and using numerous other services. Chung-Dar Lei, Chairman of TCB, said: “This is a significant milestone for mobile payment in Taiwan. TCB is proud to be the first financial institution in Taiwan to carry out the first EMV-compliant QR Code payment. This roll-out will boost the bank’s already extensive acceptance footprint due to standardized QR Code’s cost-effectiveness as a payment method. We hope to help further advance Taiwan’s mobile payment for the benefits of all.”