On July 1, 2016, the FSC amended the “Regulations Governing Cooperation with or Assistance of Foreign Institutions in Engaging in Activities Associated with Electronic Payment Business within the Territory of the Republic of China”.  The amendment allows approved domestic electronic payment institutions to make advances to domestic customers while waiting for the funds to be transferred from foreign institutions, provided that such advances are subject to the stated conditions, including: (1) the funds used for the advance by the approved institution cannot be the funds received by the approved institution as an agent on behalf of the customer; (2) advance shall be made in NTD only; and (3) the total balance of advances made shall not exceed the amount of funds already collected and pending transfer or NT$10 million.