ShopeePay service faces ‘further scrutiny’: ministerTENCENT FACTOR: ShopeePay has a six-month window to apply for a license, before which it needs more capitalization, which would be scrutinized over links to ChinaBy Angelica Oung / Staff reporterShopeePay Taiwan Co’s (蝦皮支付) proposed e-payment service would “come under further scrutiny” over possible Chinese capital, Minister of Economic Affairs Wang Mei-hua (王美花) said yesterday. Although ShopeePay is deemed a non-Chinese foreign company, Chinese technology giant Tencent Holdings Ltd (騰訊) is a major shareholder of SeaMoney’s parent company, Sea Ltd. Tougher rules over Chinese capital announced by the Investment Commission in August would apply in the ShopeePay case, Wang said. He said that the “sensitive nature” of e-payments would draw further scrutiny over possible Chinese capital. ShopeePay operates as a third-party payment service provider, servicing its e-commerce affiliate, Shopee Taiwan Co (樂購蝦皮).

Source: Taipei Times November 19, 2020 15:56 UTC