Third-Party Payment Services is a transaction mechanism in which a neutral third party provides the service of keeping the buyer’s payment for an internet transaction and furnishing the money to the seller only when the buyer receives the goods purchased or when certain conditions are met.  Whether providers of such service should be limited to financial institutions has been hotly debated in Taiwan, and the Executive Yuan decided in August to allow non-financial institutions to accept deposits of money in electronic forms and to perform the third-party payment service based on the “Statute of Governing and Managing Electronic Checks and Notes.”  Thus far, both financial institutions and non-financial institutions are allowed to provide such service.  To encourage the development of third-party payment services and to protect consumers, the Ministry of Economic Affairs further announced the proposed regulation of "The Mandatory and Prohibited Provisions of A Standard Form Contract for Third-Party Payment Services” on November 29, 2013.  The key points addressed by the proposal include data safety, safety of payment, and the requirement that a third-party payment service provider should establish a consumer dispute resolution mechanism.