Taiwan Cooperative Bank rolls out QR code payment in Visa tie-up

It claims to be the country’s first standardised and EMV compliant QR code payment.

Taiwan Cooperative Bank in partnership with Visa has implemented a QR code payment scheme in what they call as the country’s first such standardised and EMV-compliant model.

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The EMV QR code solution will initially cover over 8,000 TCB acceptance points which will be progressively increased in the coming months. It can be used to meet a wide array of consumer requirements including payments for credit card bills, utilities, insurance premiums, tuition fees, air tickets, taxes, food and online purchases.

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In the future consumers can link their TCB Visa debit or credit cards with the Taiwan Mobile Payment mobile app.

The large-scale deployment of standardised QR code payments is part of the government push to have 90% of mobile phone users using mobile payment schemes by 2025 as mobile payment stood at a low 13% as of January 2018.