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Foreign Workers In Taiwan May Soon Send Remittance Thru Convinience Stores


Taiwan government already start experimenting the use of convience stores to send remittance of foreign workers in their countries. This is to have more convinience to migrants to send their earnings thru convinince stores, according to Taiwan's Financial Supervisory Commission (FSC).

Most migrant workers are using Western Union Quick cach to send remittances, however the strict rule on money laundering and rise of the security of the country may change it, as per FSC chairman. The exoeriment act is more know as Financial Regulatory Sandbox.

This aims to have a lower risk of remittances for the migrant workers. Sending money thru convinince store will be a great alternative.

There will be three criteria to determine a good test of the new sandbox, first, it is limited to foreign workers only. Second, remittances must be refular and the foreign worker must have clear identity. Thirs is the right condition of labor of the country.

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