Act Governing Issuance of Electronic Stored Value Cards Article 16

(Cross-Border Issuance or Joint Issuance)An issuer may not issue international electronic stored value cards, or cooperate with a foreign institution in the issue of electronic stored value cards unless with approval from the Competent Authority.Regulations governing the review criteria, business management, operating mode, reporting of material financial, business and operational information and other matters to be complied with for issuers that are approved to issue international electronic stored value cards or cooperate with a foreign institution in the issue of electronic stored value cards as mentioned in the preceding paragraph shall be prescribed by the Competent Authority in consultation with the Central Bank of the ROC.