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The thesis focuses on the current development and legislation direction of Taiwan’s payment industry, and comparison with the legislation and related regulations of payment industry in other major countries.
Thanks to the rapid growth of financial industry liberalization and globalization, advances of telecommunication and information technology, improvement on national income, and movement of government policy towards a cashless environment, electronic payment tools such as credit card, debit card and prepaid card have quickly gained popularity and gradually replaced the use of checks and especially cash, achieving the ultimate goal of cashless society.
Meanwhile, the growth of internet and e-commerce and popularity of smart mobile devices have helped the electronic fund transfer and payment business to arise and meet consumer needs on quick, low cost, and multiple methods of domestic and international fund transfer services, and hence evolves in competition / cooperation relationship with the original fund transfer services provided by the banks. Along with the expansion of e-commerce transaction scope and the loosened related regulations, banks are also allowed to participate in the electronic payment business with horizontal alliances; this not only allows the banks to raise fee income and revenue, but also benefits the customer of electronic payment, enabling them to pay online with credit card, debit card or prepaid card issued by the banks.
Due to that there are still many differences between the regulations and operations of electronic payment system and industry of different countries, the thesis is analyzing the differences along with the commonness on the definition and types of electronic payment system, current development, outlook and regulations of the industry of major countries, and the current situation, issues, and responsive strategy of Taiwan payment business, and hence assisting in understanding the importance of e-payment business and the meaning it has towards improving economics and facilitating cash flow and national consumption.
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