TAIPEI (TVBS News) — Taishin Bank (台新銀行) announced Monday (July 21) it will launch an upgraded version of its Taishin Pay+ (台新pay+) Thursday. The bank has partnered with GLN International Inc., a subsidiary of South Korea's Hana Financial Group, to offer cross-border payment services. This collaboration marks a significant expansion of Taiwan's digital payment capabilities into international markets, representing a major step forward in financial technology integration. The partnership demonstrates Taiwan's banking sector's commitment to enhancing customer convenience for overseas transactions.
The initial rollout of Taishin Pay+ will cover South Korean department stores, convenience stores, and chain restaurants, enhancing overseas payment experiences for Taiwan travelers. The service particularly benefits members of Richart Life, Taishin Bank's financial services, traveling in South Korea. The bank highlighted that GLN integration allows a single platform to handle multi-country, multi-currency cross-border payment needs, marking an industry first. This comprehensive approach streamlines international transactions and eliminates the need for multiple payment applications across different countries.
Taishin Bank has collaborated with Hana Financial Group since 2016, beginning work with GLN in 2021 to assist Taiwanese merchants with cross-border payment services. Taiwanese e-payment providers from E.Sun Bank (玉山銀行), AllPay (全支付), and JKOPay (街口支付) have actively expanded into overseas markets in recent years. These providers have partnered with Japan's PayPay and entered countries like South Korea, Thailand, and Vietnam, reflecting Taiwan's growing digital payment ambitions. The expansion demonstrates Taiwan's financial technology sector's determination to compete in the rapidly evolving Asian digital payments landscape.
Taishin Bank plans to continue expanding cross-border payment services with GLN into Hong Kong, Thailand, and Singapore, aiming to broaden its market footprint significantly. The strategic expansion reflects Taiwan's banking sector's commitment to serving overseas customers and enhancing international financial connectivity across Asia. These developments position Taishin Bank as a key player in Asia's evolving digital payment ecosystem, competing with regional fintech leaders. The bank's ambitious roadmap demonstrates Taiwan's financial institutions' determination to capture growing cross-border payment opportunities in Southeast Asian markets. ◼
