The Financial Supervisory Commission (FSC) has granted Line Pay Taiwan authorisation to develop a standalone e-payment application, named Line Pay Money.
The decision comes concomitantly with Line Pay’s preparations to separate from iPass at the end of 2025, with all of the latter’s capabilities available through the Line Pay wallet, such as bill payments, top-ups, and withdrawals, being shifted to its new app as of January 2026. Now, FSC officials stated that the iPass Money feature is set to be removed from the Line app; however, customers can still access iPass directly through its app, with stored funds remaining unaffected by the move.
Line Pay currently operates as a third-party payment processor for credit card transactions, with the company unable to manage fund transfers. At the time of writing, the company has not decided whether Line Pay Money will launch its own app or be integrated into the existing Line interface. Representatives from FSC also mentioned that Line Pay Money has approximately USD 17 million in paid-in capital and is set to be allowed to provide small-value domestic remittances and loyalty point payments. Additionally, the company may send payment instructions between users and merchants.
Furthermore, the now-granted approval follows an application submitted by Line Pay in February 2025, along with a consultation with the Central Bank. FSC supervises electronic payment services in Taiwan, whereas third-party platforms are regulated by the Ministry of Digital Affairs. With the Line Pay Money authorisation, Taiwan is set to have 10 dedicated and 20 hybrid e-payment institutions, including banks and Chunghwa Post.
Taiwan’s payment landscape in 2025
According to recent data, the prepaid card and digital wallet market in Taiwan is expected to scale substantially, with an annual growth rate projected at 6.1%, reaching approximately USD 12.21 billion by 2025. Previously, more specifically from 2020 to 2024, the sector saw a significant CAGR of 8.8%, with it being anticipated to continue to grow at a 5.2% CAGR from 2025 to 2029. Additionally, the market is projected to reach USD 14.94 billion by the end of 2029, compared to USD 11.51 billion in 2024.
