This Tuesday, the Financial Information Service Co. (FISC) announced that it will connect with Japan’s PayPay and Singapore’s NETS systems to allow inbound travelers to use Taiwan’s unified QR code payment standard, TWQR. Integration with Japan’s PayPay is expected to go live first by the end of April.

FISC Chairman Lin Kuo-liang (林國良) said that TWQR, together with the Bankers Association and Electronic Payment Association, are jointly launching the TWQR Inbound global payment service to make it easier for foreign travelers visiting Taiwan. Instead of dealing with currency exchange or handling cash and change, PayPay and NETS users can use their home countries’ mobile payment apps to scan and pay at any store displaying the TWQR sign across Taiwan.

Lin said the launch marks a significant milestone in digital financial cooperation between Taiwan and neighboring countries. “The inbound service is starting with PayPay mainly because Japan is our largest source of tourists. We’ve long hoped to build a cooperative relationship with PayPay, which has been very successful in Japan. This launch is a natural progression of a series of collaborations with PayPay. Discussions are underway to implement inbound services for Korean visitors, as well,” he said.

PayPay’s Vice President Yasuda Masamichi said that last year, 1.5 million Japanese tourists visited Taiwan, making Taiwan the third most popular travel destination for Japanese tourists, after South Korea and the United States. He noted that this collaboration will not only help promote cashless payments in Taiwan and improve the travel experience for Japanese visitors, but also encourage more Japanese tourists to visit Taiwan.

The FISC is jointly funded by the Finance Ministry, the Central Bank, and other public and private financial institutions. It is primarily responsible for interbank transaction processing, settlement, and financial technology infrastructure across Taiwan, such as ATM automation services and Taiwan Pay.