Taiwan's Executive Yuan has approved the proposal for the use of Apple Pay and other international mobile payment services in Taiwan, reported Central News Agency on May 12. The approval allows the Taiwanese mobile payment providers to select freely from domestic or foreign TSPs (Token Service Provider). However, the clearing and settlement of transactions with credit cards issued by Taiwanese banks will still need to be done domestically as required by the law. Additionally, to help the development of domestic TSPs, the Executive Yuan asked FSC (Financial Supervisory Commission) to coordinate with international mobile payment service providers and associations of international credit card issuers to talk with domestic TSPs about issues such as token technology, system interoperability and verification.