iPass Money users lament ‘inconvenience’

  • By Kao Shih-ching / Staff Reporter

The 4.55 million users of iPass Money – the country’s second-largest e-payment service, formerly known as Line Pay Money – found the service more inconvenient to use after iPass Corp (一卡通票證) and Line Pay Taiwan (連加網路商業) separated.

The service was initially a collaboration between the two companies, but has been solely operated by iPass since Line Pay sold its stake in the service and left iPass’ boardroom in November last year, according to data. companies.

However, iPass, a Kaohsiung-based stored-value card company, does not have an independent payment app for users, so users should always use apps operated by Line Pay and its subsidiary, Line Taiwan Ltd. (台灣連線), to access iPass Money services.

Photo courtesy of Line Pay Taiwan Ltd

Line Pay on Tuesday renewed its Line Pay payment app, which no longer offers access to iPass Money, and the company said in a statement that the older version of the app will stop working from May 1.

After this deadline, the 4.55 million iPass Money users need to log in to Line Taiwan’s Line messaging app, select the “Wallet” function, click “Line Pay”, then click “iPass Money” to pay or transfer funds, a process users say is more troublesome than when they could access through a few apps.

Moreover, this only means of access could disappear next year, because the Financial Supervisory Commission (FSC) said on Tuesday during a videoconference that the iPass contract with Line Pay was due to expire in February of the year. next.

At this point, iPass Money users will no longer be able to use the Line app to pay or transfer funds, said Banking Office Chief Secretary Phil Tong (童政彰).

However, iPass told the commission it would establish its own app, which it plans to launch by the end of this year, Tong said.

Line Pay would operate its own payment service, which is a third-party payment service, Tong added.

A third-party payment service is different from an electronic payment service in that users cannot transfer money to each other or connect to users’ bank accounts, the FSC said.

One user told the Taipei Times that friends transferred thousands of dollars from New Taiwan to her iPass Money account, and she’s not sure if she should rush to spend the funds until next year.

Line Pay said the decision to remove iPass Money access from its new app was based on time and resource considerations.

If he had integrated the service into his app, more time would have had to be spent developing the new app, he said.

Line Pay said it plans to ask iPass if it wants to extend its contract next year, but talks have not started.

The rights of its users would not be affected, iPass said in a statement.

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