News

Taiwanese can use ATM cards to pay taxes

March 23, 2005

China Post: Beginning in May, Taiwanese will have another option of paying their taxes -- via chip-based ATM cards.

Local banks have been pushing the switch from magnetic strip ATM cards to chip-based ATM cards, as the latter offer better security in fighting forged card usage and hindering information theft.

As chip-based cards gain in popularity, the Ministry of Finance will enable taxpayers to settle their payments with these cards, either transfer directly via ATM or online at home. To settle taxes online, consumers will need card readers.

The readers will be able to read the information stored on the cards, and enable users to conduct other government-related online transactions.