The telecommunications industry's first-ever post-purchase installment service, "Da Ge Fu (OP Pay later)" offered by Taiwan Mobile is now available online on the momo

April 27,2023

As one of the leading telecommunications company in Taiwan, Taiwan Mobile has ventured into TelcoFin, the telecommunications financial services sector, as it seeks to branch into the personal credit economy by introducing the industry's first post-purchase installment service called " OP Pay later " The service was officially launched on Taiwan's leading e-commerce platform momo on April 27, 2023. Under the scheme, consumers no longer need to apply for an additional credit card as they can use their mobile phone number to allocate their payment budget.


The service utilizes an AI (artificial intelligence) model to customize transaction amounts, which are dynamically adjusted on a monthly basis to avoid granting a high credit limit at once that could lead to overspending by consumers. Both existing credit card holders or those without credit cards, such as students, housewives and freelancers, can enjoy the convenience of deferred or installment payments, boosting the promotion of financial services in Taiwan.


Starting immediately, all Taiwan Mobile monthly postpaid users can enjoy the " OP Pay later " service on the momo, without the need for cumbersome registration, document uploads, process reviews or an app download. It only takes three steps: complete the checkout process on the momo, enter each consumer's mobile number for verification and choose the desired installment plan. With these simple steps, users can go through the payment easily and enjoy a smooth and convenient buy-now-pay-later experience. The service has no hidden fees, and the interface design is straightforward, ensuring information transparency and transaction security.


In addition to payment options at four major chains of convenience stores and via bank transfers,Taiwan Mobile also provides the convenience of paying at myfone direct stores, where consumers can make payments without any additional fees. Based on its diverse strength, which includes a customer base of over six million monthly subscribers, KYC (know your customer) data, big data analytics, as well as billing systems and customer relationships, Taiwan Mobile is fully committed to developing telecommunications financial services through the partnership with the momo, said Taiwan Mobiles President Jaime Lin.


With the highest level of data protection and risk control, consumers can directly use their provided credit limits, marking a landmark in the company's foray into the telecommunications financial service sector, providing  consumers with a more convenient, tailored and secure payment experience.


Vincent Wu, vice president of Taiwan Mobile's Telco Financial Services, foresaw promising growth potential of the post-purchase installment market. Thanks to a special design, the " OP Pay later " service operates independently from Taiwan Mobile's billing system with its own payment mode and separate billing page, Wu said.


It is projected that by 2024, the service will be expanded to consumers throughout Taiwan, with Taiwan Mobile continuously seeking to expand the service to all sorts of scenarios and develop a ubiquitous telecommunications financial service, according to Wu.


Note: The " OP Pay later " service specifically targets Taiwan Mobile's monthly postpaid mobile subscribers. The mention of "six million" in the text refers to the total number of monthly postpaid subscribers of Taiwan Mobile.