Some JKoPay partners resume cooperation after brief suspension

Taipei, July 11 (CNA) Some of the business partners of JKoPay, one of Taiwan's major digital payment firms, have resumed cooperation with the platform after briefly suspending it on Friday due to the court-ordered seizing of the assets JKoPay's parent company.

E-commerce portals momo and PChome announced on Friday evening that their customers could once again use JKoPay services, which had been suspended earlier the same day following E-life Corp.'s decision to stop using the platform.

The wave of dissociation from JKoPay came a day after police officers executed a court-ordered seizure of assets belonging to its Taipei-based parent company, JKO FinTech Co., to enforce a NT$3.6 billion (US$123.24 million) claim filed by Taisun Enterprise Co.

At a press conference Friday afternoon, JKoPay Chairperson Mei Hua (梅驊) said the company operated independently from its parent company and that all funds involved in its services were held in trust.

The Financial Regulatory Commission (FSC) later echoed Mei's remarks, telling CNA that JKoPay's assets were under the agency's supervision and would not be affected by the district court's ruling against its parent company.

Momo, in a statement, said it had suspended JKoPay services to protect its customers from potential risks, but reinstated the service after further communications and a reassessment of the situation.

As of Friday night, JKoPay services remained available at convenience store chains FamilyMart, Hi-Life, and OK Mart, but 7-Eleven had yet to comment.

Meanwhile, online shopping platform ETMall and shopping and entertainment complex Honhui Plaza said they have suspended JKoPay services.