Android Pay is scheduled to enter the Taiwanese market on June 1, according a Chinese-language Economic Daily News (EDN) report. Initially, Google’s mobile payment service will be supported by three local banks. Nevertheless, support for additional banks should expand in time according to the report.
Currently, customers in Taiwan can use Apple Pay for mobile wireless payments. The service has been available for seven local banks since late March, but Android Pay is poised to join the race two months later.
Android Pay was announced at Google I/O in 2015. The service uses NFC communication to transmit card information facilitating funds transfer to the retailer. Since its premiere, Google has successfully launched Android Pay in many countries, and if the report by EDN is true, then Taiwan will be the thirteenth country with support for Android Pay.
The most noteworthy part of this news is that Android devices are incredibly popular in Taiwan. According to the paper, 80 percent of smartphones in the region run this system. This is mostly thanks to the fact that Taiwan is the home market to the likes of smartphone giants HTC and ASUS.
Android Pay will be available for clients of CTBC Bank, First Bank, and Bank SinoPac, per the report. CTBC Bank alone issued six million credit cards, so there is a lot of market potential to be captured by Google. Clients of these banks will soon have an option to utilize the NFC in their devices for mobile payments.
Source: Digitimes
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