Boku announced that it has added leading Taiwanese e-payment/mobile payment provider JKOPAY, to its ever-growing network of local payments.
Taiwan is a highly digitized market whose adoption of mobile wallet payments is already dominant and forecasted to reach close to 99% penetration by 2025 (Juniper Research, 2021). But up until now, foreign merchants were prohibited from accepting cross border payments from local Taiwanese wallets. For the first time, thanks to an innovative collaboration agreement between Boku, JKOPAY, and the Taiwan Financial Supervisory Commission (“FSC”), foreign merchants working with Boku can accept JKOPAY cross-border payments from Taiwanese customers.
The first cross border merchant to begin accepting JKOPAY payments through Boku is Korean online giant, Naver, who has added JKOPAY as a payment option for its popular online comic platform, Webtoon.
Mark Stannard, Chief Business Officer, Boku,
This joint effort between Boku, JKOPAY and the FSC is an important step towards broadening the use of local payments in Taiwan. Our merchants want to reach Taiwanese customers using the method of payment they are accustomed to using, which is usually a local payment app and today, they can finally do that.
Jacob Mei, Chairman of JKOPAY,
JKOPAY continuously innovates by introducing new products that revolutionize the existing models of deposit, loan, investment, and insurance, as these cater to the fundamental financial needs of the public. Our unwavering dedication to enhancing customer services and venturing into cross-border business since 2020 has been a cornerstone of our operations. We are now thrilled about our partnership with Boku, which will undoubtedly unlock numerous possibilities to extend the acceptance of JKOPAY among the vast network of global merchants associated with Boku.
