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May 20, 2014updated 04 Apr 2017 4:07pm

Apple China’s payment processor PayEase plans to expand services in Taiwan

PayEase, the Beijing-based payment processor for Apple, is planning to list its shares in Taiwan to expand its business.

By Verdict Staff

PayEase, the Beijing-based payment processor for Apple, is planning to list its shares in Taiwan to expand its business.

The move by PayEase came after it received cross-border payment-processor licenses from China.

PayEase spokesman Kevin Yim told Bloomberg that an initial public offering may come next year at the earliest, and no decision has been made on whether to proceed.

"The payment industry has just started in Taiwan so we can educate the regulators here and we can also help a lot of the Taiwanese merchants," added Yim.

Founded by the Beijing Government, PayEase was one of the five payment processors to receive cross-border payment licenses from China’s State Administration of Foreign Exchange authorizing them to undertake yuan-denominated transactions for foreign merchants that can be settled in local currencies.

According to Yim, PayEase is also looking at Singapore, the US Nasdaq, Hong Kong and international brokers including JP Morgan Chase for listing its shares.

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