What is Teachify Payments?

Teachify Payments is a cross-border payment service provided by Teachify. Through Teachify Payments, you can greatly simplify administrative tasks, handle business tax and related tax reporting, provide refunds when consumers need them, and ensure payment security, successful transaction completion, and automatic issuance of electronic invoices.

Do I have to use Teachify Payments when using Teachify?

No, Teachify offers three payment integration models:

1. Teachify Payments Taiwan Version: Teachify’s self-developed payment integration value-added service, supporting payments in Taiwan region and multiple payment methods;
2. Teachify Payments Global Version: An advanced version of Teachify Payments, supporting global payments, multiple payment methods, and providing more payment integration options;
3. Self-integration with third-party payment services and electronic invoicing (Custom Payment Gateway, or CPG): Teachify supports Newebpay, LINE Pay, PayPal, and Stripe, and you can apply for payment services according to your needs;

If you don’t want Teachify Payments to help process payments, accounting, and taxation, you can choose to integrate third-party payment services yourself.

Teachify also offers assistance in setting up payment accounts (Newebpay, Uni-President), allowing you to obtain more favorable transaction fees and complete the account opening process faster, saving your valuable time.

How does Teachify Payments work?

Teachify Payments is a payment integration value-added service. Through Teachify Payments, you can provide consumers with convenient payment methods such as credit cards, ATM, and convenience store payments. Each transaction automatically generates an electronic invoice, and you can establish a “subscription” payment model so your customers don’t have to make manual payments each time.

Teachify Payments is a solution that integrates the following services:

• Our company acts as the recipient and issues electronic invoices to consumers;
• Consumers will see the name Teachify Payments during and after the checkout process;
• Teachify Payments will display information related to consumer rights on specific pages, such as guarantees, refund policies, viewing period limits, etc., helping content providers share some of the delivery responsibilities;
• If consumers request refunds, after confirmation and approval from the content provider, our company will assist in processing refunds and voiding/crediting electronic invoices;
• Third-party payment collection through Newebpay and Uni-President payment services.

The advantage of adopting Teachify Payments is that it greatly simplifies website operations, accounting management, payment management, and other administrative tasks. Teachify continuously maintains close cooperation with third-party payment companies to ensure consumer rights and ensure flexibility for content providers in the sales process.

At the same time, as relevant regulations continue to develop and improve, we can help you handle changes in related regulations, allowing you to focus on providing and managing your content.

Who is Teachify Payments suitable for?

Businesses that adopt Teachify Payments typically have the following needs:

• Need to simplify administrative operations, with insufficient administrative resources to handle electronic invoice applications, payment company interactions, consumer refunds, and other administrative tasks;
• Need to provide consumers with more payment methods, such as credit cards, ATM, convenience store payments, LINE Pay, etc.;
• Hope to provide a stable, secure, and reassuring online shopping experience and subsequent user experience through Teachify’s stable “content delivery capability”.

Currently limited to “companies/businesses” and users who have subscribed to “Pro version” or above to apply for Teachify Payments.

What does the service include?

Our payment integration value-added service, Teachify Payments, is currently only available to “companies/business accounts” that have chosen the “Pro or Business version”. You can enjoy benefits including:

• Support for convenient payment methods such as credit cards, ATM, and convenience store payments
• Automatic issuance of electronic invoices for each transaction through Teachify’s payment service
• Ability to establish a “subscription” payment model, allowing you to set up monthly or annual automatic payments so your students don’t have to make manual payments each time
• No need to pay a security deposit in advance to start receiving payments
• Unlimited electronic invoice issuance quota
• Credit card transactions can be refunded online with electronic invoice cancellation/credit notes
• For consumers using ATM or convenience store payments who need refunds, Teachify will assist in processing refunds and transfer the refund amount, minus handling fees, directly to the consumer’s bank account (administrative fees apply, and you can decide whether the seller or consumer bears the transfer fee).

What payment integrations does Teachify support?

Teachify provides two payment integration methods:

1. Teachify Payments: Teachify’s self-developed payment integration value-added service;
2. Self-integration with third-party payment services and electronic invoices: Teachify supports Newebpay, LINE Pay, PayPal, and Stripe, and you can apply for payment services according to your needs.

What payment methods are available to consumers?

Currently offering:

1. Credit cards;
2. ATM (physical ATM or online ATM);
3. Convenience store code payment;
4. LINE Pay (in beta testing, not yet fully available).

Is credit card installment payment available?

Currently, only credit cards issued by Taishin Bank and E.SUN Bank support installment payments, with options for 3, 6, and 12 installments.

Since online courses and digital content sales are considered deferred delivery products, banks and payment companies have stricter review processes, so the number of cooperating banks is relatively limited.

How should I evaluate whether to adopt it?

The benefits of transacting through Teachify Payments are as follows:

1. Multiple payment methods activated at once - Teachify Payments directly provides credit card, ATM transfer, convenience store payment options, and can establish subscription-based sales models with regular fixed payments;
2. Unlimited number of electronic invoices;
3. Sufficient collection limits (typical payment processors have certain monthly limits for credit card collections);
4. You can start collecting payments without having to pay a security deposit in advance;
5. Higher credit card transaction success rate;
6. Support for cross-border collections and payments;

See the comparison table below for details:

The benefits of using your own payment system are as follows:

1. You can control the transaction terms of your payment system, such as credit card processing fees, disbursement days, security deposit percentages, etc.;
2. You can manage the issuance, cancellation, and credit of electronic invoices yourself;
3. You can control the refund processing timeline;

Regardless of whether you use Teachify Payments or your own payment system, you can enjoy:

1. Automatic issuance of electronic invoices for each transaction;
2. Automatic cancellation of electronic invoices after order cancellation;
3. For cancelled orders paid by credit card, the amount will be automatically refunded to the consumer.

What’s the difference from integrating your own payment gateway?

We currently support the following third-party payment services:

• NewebPay
• PAYUNi
• LINE Pay

If you apply for a payment account directly with these providers and activate it in your Teachify dashboard, Teachify won’t charge additional payment processing fees. You can negotiate fees directly with the payment service provider or get Teachify’s help to apply for more favorable rates.

The advantage of using your own payment gateway is that you have control over transaction conditions. However, you’ll need to handle payment-related issues yourself, such as refunds, electronic invoicing, credit notes, etc.

Additionally, for deferred products (online courses, subscription content) and pre-order products requiring fulfillment guarantees, third-party payment companies often require you to provide a security deposit (ranging from 10% to 30%) to protect consumers. If you use Teachify Payments, we’ll help you handle these issues, and you can start collecting payments without having to pay a security deposit upfront.

If you use Teachify Payments, we’ll help you collect fees from consumers, ensure payment security, complete transactions smoothly, and automatically issue electronic invoices.

Service fees?

Note: The above service fees are pre-tax prices. For example, if the service fee settlement is 1,000 TWD, the actual amount charged including tax is 1,000 * 1.05 = 1,050 TWD. (50 TWD is business tax, paid to the Ministry of Finance.)

Is Teachify Payments a third-party payment provider?

Teachify Payments is not a third-party payment provider. Teachify Payments is a payment value-added service and Merchant of Record (MoR) solution that integrates the following services:

• Our company acts as the recipient and integrates third-party payment services such as NewebPay, PAYUNi, etc., to collect payments from consumers
• Our company issues electronic invoices to consumers and helps you settle payments and file business taxes
• Consumers will see Teachify Payments and related information during and after the checkout process
• Teachify Payments will display consumer rights-related matters on specific pages, such as guarantees, refund policies, viewing periods, etc., helping content providers share some of the delivery responsibilities
• If consumers request refunds, after confirmation and approval from the content provider, our company will help process the refund and void/credit the electronic invoice.