{"id":3506,"date":"2025-07-12T06:02:04","date_gmt":"2025-07-12T06:02:04","guid":{"rendered":"https:\/\/www.newsbeep.com\/us\/3506\/"},"modified":"2025-07-12T06:02:04","modified_gmt":"2025-07-12T06:02:04","slug":"jkopay-says-its-system-not-affected-by-parents-dispute","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us\/3506\/","title":{"rendered":"Jkopay says its system not affected by parent\u2019s dispute"},"content":{"rendered":"

REASSURANCE:
\n The Financial Supervisory Commission confirmed that Jkopay\u2019s user funds are entirely separate and trust mechanisms are in place to safeguard money <\/p>\n

By Crystal Hsu \/ Staff reporter<\/p>\n

Taiwanese digital payment provider Jkopay Co (\u8857\u53e3\u652f\u4ed8) yesterday quickly moved to reassure the public after a court-ordered asset freeze on its parent company triggered a wave of retailer suspensions and user fund withdrawals.<\/p>\n

The Taipei District Court on Thursday froze assets belonging to parent company Jko Fintech Co (\u8857\u53e3\u91d1\u878d\u79d1\u6280), following a legal dispute with food and beverage maker Taisun Enterprise Co (\u6cf0\u5c71\u4f01\u696d) over a contested NT$3.6 billion (US$123.27 million) investment.<\/p>\n

Taisun said the investment made by former board members was invalid and is seeking the return of the funds. <\/p>\n

<\/p>\n

Photo courtesy of Jkopay Co<\/p>\n

Court officers attempted to seize Jko Fintech\u2019s assets on-site, but were unsuccessful.<\/p>\n

The ruling sparked concerns over the operational stability of Jkopay, prompting the company to hold an emergency news conference yesterday afternoon, during which it emphasized that its operations are legally and financially separate from its parent\u2019s.<\/p>\n

\u201cAll user money is stored in trust accounts that cannot be used for other purposes,\u201d Jkopay chairman Jacob Mei (\u6885\u9a4a) said. \u201cThe funds are protected under trust law and cannot be affected by legal issues involving our parent company.\u201d<\/p>\n

<\/p>\n

Photo: CNA<\/p>\n

Mei said that some partner merchants and users have suspended cooperation or withdrawn funds due to the situation. <\/p>\n

However, he expressed gratitude to business partners who continue to support the platform and urged users to \u201cview the situation objectively.\u201d<\/p>\n

As of the end of last month, Jkopay, which has estimated 6.5 million users, held NT$400 million in net assets \u2014 well above any regulatory threshold requiring a capital injection \u2014 and it has narrowed its losses over the past year, aiming to break even by next year, Mei said.<\/p>\n

The company last month handled NT$6 billion in monthly transactions, with NT$4 billion in user funds held in trusts, he said.<\/p>\n

The Financial Supervisory Commission confirmed that user funds are entirely separate, saying there is no risk of a bank run, and reiterated that trust mechanisms are in place to safeguard the money.<\/p>\n

Despite the assurances, prominent e-commerce firms including E-Life Mall Corp (\u5168\u570b\u96fb\u5b50), Momo.com Inc (\u5bcc\u90a6\u5a92\u9ad4), PChome Online Inc (\u7db2\u8def\u5bb6\u5ead) and Shopee Auction suspended Jkopay as a payment option. Momo.com, PChome and Shopee lifted the suspension hours later.<\/p>\n

Physical retailers such as Daily Breakfast (\u9054\u5229\u65e9\u9910) and Guangsheng Pharmacy (\u5ee3\u751f\u85e5\u623f) also temporarily removed the platform.<\/p>\n","protected":false},"excerpt":{"rendered":"REASSURANCE: The Financial Supervisory Commission confirmed that Jkopay\u2019s user funds are entirely separate and trust mechanisms are in…\n","protected":false},"author":2,"featured_media":3507,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[41],"tags":[165,74,4083,4082],"class_list":["post-3506","post","type-post","status-publish","format-standard","has-post-thumbnail","category-mobile","tag-mobile","tag-technology","tag-the-taipei-times","tag-4082"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/3506","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=3506"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/3506\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/3507"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=3506"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=3506"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=3506"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}