Data Source:Laws and Regulations Retrieving System of the Banking Bureau


Title： Regulations Governing Identity Verification Mechanism and Transaction Amount Limits of Electronic Payment Institutions (2021.06.30 Modified)

　 Chapter 1 General Provisions
Article    1    These Regulations are adopted pursuant to Article 16, Paragraph 3 of Article 25, Paragraph 3 of Article 26, and Article 42 which apply mutatis mutandis to Article 16, Paragraph 3 of Article 25, and Paragraph 3 of Article 26 of the Act Governing Electronic Payment Institutions (referred to as the “Act” hereunder).
Article    2    The identity verification mechanism and transaction amount limits for users of electronic payment institutions and contracted institutions shall be governed in accordance with these Regulations. Matters not prescribed in these Regulations shall be governed by the Regulations Governing Anti-Money Laundering of Financial Institutions and other related regulations.
Article    3    The terms used in these Regulations are defined as follows:
1. "Individual users" shall mean natural-person users including natural persons from other countries or regions (including Mainland Area).
2. "Non-individual users" shall mean government agencies, legal persons, business entities, and other organizations in the ROC as well as government agencies, legal persons, business entities, and other organizations from other countries or regions (including Mainland Area).
3. "Individual contracted institutions" shall mean natural persons who signed contracted institution contracts with an electronic payment institution, including natural persons from other countries or regions (including Mainland Area).
4. "Non-individual contracted institutions" shall mean government agencies, legal persons, business entities, and other organizations in the ROC as well as government agencies, legal persons, business entities, and other organizations of other countries or regions (including Mainland Area) who signed contracted institution contracts with an electronic payment institution.