What are some common ways to send money between friends here in Taiwan?
In the US, many people use Venmo, and in China, Wechat is very common. What are some mobile payment methods that people would use to transfer money here?
ATM. Get the bank number from your friend and just input the amt into the ATM.
Never heard of Venmo before.
There is probably LINE pay too. But Iâve never had it or had anyone ask me for it.
Nothing really is seamless. There is no unified payment system here which can be used to send money. You have to use full bank info every time. You can use your banks mobile app.
My coworkers like to use this, so there must be some percentage of people here who use it.
bank to bank
Common ways to send money between friends in Taiwan
Money bouquet.
Cashâcold hard cash. 
Guy
Thanks for the many fast replies. Letâs hope more progress can be made as Taiwan aims to become a âfinancial centerâ.
âFinancial centerâ status doesnât come from having an app to split the bill at a restaurant or send money to a friend.
financial centers become that way since they have a history of good regulators, and a strong, just and transparent legal system that can protect and enforce contracts, thus protecting both sides to a deal.
i dont think there is an app to send money in switzerland, but their banking system is great, and even though you can use wechat to send money to street beggars, i wouldnt put my money in mainland china.
Thanks for your comment. True, financial center status doesnât come being able to send money to people using an app, but more convenience for consumers and banking customers certainly would be a plus. Unless you believe banks here are already efficient and convenient?
I wouldnât read too much into my Venmo and Wechat examples, I was just asking if something like that existed here. Recent news has the Tsai administration focused on making Taiwan a financial center, thatâs what I was alluding to.
Recently Easy Wallet was launched. There you can transfer funds to other people. I donât think it is widely used yet.
Line pay can send money with the âHongbaoâ option (LINE Payçźç´ ĺ )
Sure it will. But itâll be Han-only. And fill up multiple forms to download an âappâ, âactivateâ it, link to phone similar to the current NHI app activation.
They just donât get software.
It wonât even be han only it will be Taiwan only. The financial center consisting ofâŚJust TaiwanâŚSame as it is now.
Taiwan hasnât even got a handle on how to handle cryptocurrencies. Just another reason among millions of reasons/real-world examples that it will never be an international finance center.
Itâll never be a global financial center because of their inherent closed minded Chinese attitudes IMHO. Any change is seen as an attempt that threatens their culture. Itâs something Singapore and HK did away with and prospered.
Well there are twenty something banks operating in Taiwan and they all make decent profits so donât count on them ever wanting that to be imposed upon, probably half of them are partially or majority government owned as well.
Over the last few years they havenât once requested my chop.
We have to recognize progress where we can find it.
I need to send payments around Asia sometimes and I canât find any app like Revolut such as in EU. I still have been forced to use PayPal and it sucks. I would send people full payments in crypto in seconds/minutes but most people have no clue how to deal with that.
Yup thatâs true