我國非銀行業者辦理跨境匯兌之法制研究

近年來，跨國人才流動的頻繁讓跨境匯兌的需求日益增加，再加上網路資訊科技的進步，讓金融科技業者紛紛提供更加方便快速的跨境匯兌服務，希望改變銀行匯兌體系速度慢、成本高的問題，我國為因應此趨勢，亦修正電子支付機構管理條例開放電子支付機構經營國內外小額匯兌。惟電子支付牌照採取綑綁不同業務的設計，電子支付機構如欲經營國內外小額匯兌業務，就需要經營所有專營電子支付機構的業務才能獲得授權，此基本法制設計亦影響我國的非銀行跨境匯兌業務。本文針對跨境匯兌的部分進行研究，分析跨境匯兌的基礎概念與介紹具有代表性的跨境匯兌模式，包括最為普及的銀行電匯與在其中扮演重要角色的SWIFT系統和代理行的模式，以及西聯匯款、信用卡公司、金融科技業者Wise、台灣曾經出現過的跨境匯兌服務商櫻桃支付及移工小額跨境匯兌公司。這些跨境匯兌業者所提供的服務基本上都是希望利用自建的匯兌網路來取代銀行代理所產生的額外時間與費用，進而縮短到匯時間與降低手續費。惟本文分析後發現這幾個匯兌業者的商業模式基本上都還是需要與銀行合作，最後還是會貼回銀行，與銀行形成一種既合作又競爭的微妙關係。本文進一步比較英國法上的支付機構及電子錢機構法規，特別是市場准入門檻、自有資金要求與流動性風險等與資金安全相關的監理措施，並比較英國法的規定與我國規範的不同。總體而言，我國對電子支付機構規範與限制較英國法嚴格許多，本文於參考比較英國的規範後，建議我國應可考量放寬對經營項目的限制、調降最低資本額、增加更細緻的持續性資金要求、取消準備金制度、刪除投資於低風險資產的比例限制、放寬交易額度限制，以及刪除清償基金的規定，適度減輕電子支付機構的法遵成本，以增加金融科技產業與跨境匯兌業務的發展空間。

關鍵字

電子支付；跨境匯兌；資金移轉；金融科技；金融監理；電子錢

並列摘要

In recent years, the demand for cross-border remittance has been increasing due to the cross-border movement of people. Coupled with the progress of information technology, fintech companies have been providing more convenient and faster cross-border remittance services, hoping to change the slow and costly bank remittance system. In response to this trend, the Act Governing Electronic Payment Institutions was amended in 2021 to allow electronic payment institutions to operate small-amount domestic and foreign remittances. However, the electronic payment license is designed to bundle different businesses. If an electronic payment institution wishes to engage in small-amount domestic and foreign remittance business, it needs to operate all electronic payment businesses to obtain the license. In addition, the Act Governing Electronic Payment Institutions closely follows the purpose of small-amount of remittance; thus, the transaction limit is set at a very low level. These regulations all hinder the development of non-bank cross-border remittance businesses in Taiwan. This thesis analyzes the basic concepts of cross-border remittance and introduces representative cross-border remittance models, including the most common wire transfer (bank transfer), as well as the SWIFT system and the role of agent banks. These instances include Western Union, credit card companies, fintech companies such as Wise and Cherry Pay, and small-amount cross-border remittances services for migrant workers. Most of these services are designed to reduce time and costs by replacing bank agents with self-built money transfer networks. However, this thesis found that the business models of these money transfer operators usually need to rely on account services provided by banks, forming a delicate relationship of cooperation and competition between banks and money transfer service providers. This thesis reviews the regulations of payment institutions and e-money institutions in the United Kingdom, especially the supervision measures related to initial capital requirement, continuing capital requirements, and safeguarding, and compares the differences between the U.K. laws and Taiwanese laws. In general, the regulations and restrictions on electronic payment institutions in Taiwan are much stricter than those in the United Kingdom. Taking reference from the U.K. laws, this thesis proposes that the initial capital requirement, reserve system, transaction amount, investment limits, and the repayment fund designs in Taiwan should be amended to reduce compliance costs for electronic payment institutions and drive the development in fintech industry and cross-border remittance businesses in Taiwan.