iPASS Increases Capital by NT$300 Million to Expand Electronic Payment Scale, Aiming for "Expansion-Type" Profitability
Electronic payment service iPASS MONEY has approved a NT$300 million capital increase to expand its scale and pursue profitability through an "expansion-type" strategy. The company aims to leverage its unique position as a government-invested entity and its "Green Point" loyalty program for growth, despite challenges post-separation from LINE Pay.
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- 📰 Published: April 17, 2026 at 20:06
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Taipei, April 17 (CNA) -- iPASS MONEY, an electronic payment service that began independent operations late last year after splitting from LINE Pay, has passed a strategic capital increase of NT$300 million in early this year, according to CEO Cheng Kai-yin. The funds will be invested in marketing and promotion to expand its electronic payment scale. Cheng emphasized that iPASS will not reduce its e-payment scale but will adopt an "expansion-type" strategy to turn a profit.
Cheng stated at a media exchange event this afternoon that the NT$300 million capital increase, approved early this year, saw the price revised from NT$15 in the previous round to NT$10, influenced by the stock price fluctuations of its peers. This revision aims to reward existing shareholders, and shareholders are highly supportive of the plan to expand business.
Regarding the market's attention to IPO (Initial Public Offering) progress, Cheng pointed out that achieving profitability is a necessary milestone before an IPO. The company has an internal timeline for achieving profitability, but it "definitely won't" happen this year.
He said that while an IPO is not ruled out for the future, the immediate priority is expanding the electronic payment business. Currently, the iPASS MONEY App has reached 4 million downloads, with approximately 2 million monthly active users and 300,000 to 400,000 daily active users. Transaction volumes, which bottomed out at NT$1.42 billion in January, have recovered faster than internally expected, reaching NT$1.52 billion in February and NT$1.82 billion in March.
Addressing the challenges after "parting ways" with LINE Pay, Cheng frankly admitted it had an impact. Due to the inability to collect cooperative transaction fees and the loss of the advantage of LINE chat transfers, both transfer and top-up amounts declined. Furthermore, channels previously connected through LINE Pay need to be re-integrated, which is expected to take 6 to 12 months.
Despite the challenges, Cheng reiterated that iPASS will adopt an expansion strategy rather than shrinking its electronic payment scale. As the only e-payment institution with investment from central and local governments, iPASS will actively promote government policies. The independent app can simultaneously manage physical stored-value cards and electronic payments, a vertical integration that competitors find difficult to match. With an independent app, iPASS can also autonomously decide on partnerships with other enterprises.
In terms of point economy, Cheng said that iPASS "Green Points" are positioned as policy-driven points, integrated with net-zero carbon emission policies, used to offset public transportation, utility payments, and green consumption. The annual issuance of Green Points is growing exponentially, with a redemption rate of 60-80%. Larger point partnership deals will be announced in the future. (Edited by Yang Kai-hsiang) April 17, 115
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Cheng stated at a media exchange event this afternoon that the NT$300 million capital increase, approved early this year, saw the price revised from NT$15 in the previous round to NT$10, influenced by the stock price fluctuations of its peers. This revision aims to reward existing shareholders, and shareholders are highly supportive of the plan to expand business.
Regarding the market's attention to IPO (Initial Public Offering) progress, Cheng pointed out that achieving profitability is a necessary milestone before an IPO. The company has an internal timeline for achieving profitability, but it "definitely won't" happen this year.
He said that while an IPO is not ruled out for the future, the immediate priority is expanding the electronic payment business. Currently, the iPASS MONEY App has reached 4 million downloads, with approximately 2 million monthly active users and 300,000 to 400,000 daily active users. Transaction volumes, which bottomed out at NT$1.42 billion in January, have recovered faster than internally expected, reaching NT$1.52 billion in February and NT$1.82 billion in March.
Addressing the challenges after "parting ways" with LINE Pay, Cheng frankly admitted it had an impact. Due to the inability to collect cooperative transaction fees and the loss of the advantage of LINE chat transfers, both transfer and top-up amounts declined. Furthermore, channels previously connected through LINE Pay need to be re-integrated, which is expected to take 6 to 12 months.
Despite the challenges, Cheng reiterated that iPASS will adopt an expansion strategy rather than shrinking its electronic payment scale. As the only e-payment institution with investment from central and local governments, iPASS will actively promote government policies. The independent app can simultaneously manage physical stored-value cards and electronic payments, a vertical integration that competitors find difficult to match. With an independent app, iPASS can also autonomously decide on partnerships with other enterprises.
In terms of point economy, Cheng said that iPASS "Green Points" are positioned as policy-driven points, integrated with net-zero carbon emission policies, used to offset public transportation, utility payments, and green consumption. The annual issuance of Green Points is growing exponentially, with a redemption rate of 60-80%. Larger point partnership deals will be announced in the future. (Edited by Yang Kai-hsiang) April 17, 115
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