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LINE Pay Money Account Contract have been amended

2020/03/19

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It is hereby announced that Article 2, Article 3, Article 12, and Article 16 of the “iPASS Standard Form Contract for the Business of Electronic Payment Institutions” have been amended and will be implemented from March 26, 2020.

For the contents amended, please refer to the following comparison table showing the difference between the previous and new terms. If the user disagrees with this amendment, please inform the Company to terminate the contract in accordance with Article 23 of the “iPASS Standard Form Contract for the Business of Electronic Payment Institutions.” If the user does not make such objection within seven days, it is presumed that the user accepts the modification, addition or deletion of the terms.

Comparison Table of the Amendment to the Standard Form Contract
for the Business of Electronic Payment Institutions

Items

After the amendment

Before the amendment

Article 2

14. “Foreign institution” shall mean an institution that is organized and registered in another country or region (including Mainland Area) and engages in business equivalent to the electronic payment business under the Act Governing Electronic Payment Institutions (hereinafter referred to as the “Act”).

15. “Foreign institution's payment account” shall mean an online account of a foreign institution provided to its users that is equivalent to the e-payment account set out in the Act.

16. “Cross-border service” shall mean a collaboration between the Company and foreign institutions to provide recipient customers with the service approved by the competent authority of collecting funds paid by foreign individuals without residence in Taiwan through a foreign institution's payment account for real transactions conducted at physical channels under Article 14 of the Act.

 

Article 3

12. Once a declaration of foreign exchange is required, the user of cross-border service shall agree and authorize the Company to declare and submit materials as requested by the competent authority of foreign exchange pursuant to the Act Governing the Declaration of Foreign Exchange Receipts and Disbursements or Transactions and other related regulations.

 

Article 12

The fee items, calculation methods and amounts shall be based on either those posted by the Company at a conspicuous place on the Service website or agreements reached by both sides. If the fee schedule is subsequently adjusted, the Company shall announce the news at a conspicuous place on the Service website and inform the user of fee adjustment by email, phone call, text message, push notification of Service APP, or other forms accepted by both sides 60 days prior to the adjustment effective date for the adjustment to take effect, unless the adjustment is favorable to the user.

The fee items, calculation methods and amounts shall be based on those posted by the Company at a conspicuous place on the Service website. If the fee schedule is subsequently adjusted, the Company shall announce the news at a conspicuous place on the Service website and inform the user of fee adjustment by email, phone call, text message, or push notification of Service APP 60 days prior to the adjustment effective date for the adjustment to take effect, unless the adjustment is favorable to the user.

Article 16

10. The recipient customers shall agree and authorize the Company to provide foreign institutions with their business name, Unified Business Number, scope of business, product link, transaction details, and other related information due to business needs.