StreetPay makes a 408 million acquisition of Beijing Securities: expanding a one-stop application for "investment, wealth management, and payment"?

From electronic payments to securities brokerage, Jkopay announced an investment of NT$408 million to acquire 100% equity of Jingcheng Securities, a subsidiary of Jingcheng Bank (2809), officially marking its entry into the core business of TradFi. This move not only expands Jkopay's new business territory but also becomes a focal point in the financial circle on the eve of the merger between Yongfeng Financial and Jingcheng Bank.

408 million yuan fully acquired! StreetPay takes over Beijing Securities.

Taiwan's second largest electronic payment platform "JKOPAY" has officially entered the securities industry. According to Digital Times, the board of directors of Jingtown Bank has resolved yesterday to sell its subsidiary Jingtown Securities 100% equity, with a total transaction amount of approximately NT$408 million. The buyer is JKOPAY Network Financial Technology Co., Ltd.

Jiekou acquired a total of 23 million shares at NT$17.77 per share, amounting to approximately NT$487,107,000, with the transaction still pending further approval from the Ministry of Economic Affairs' Investment Review Division.

This acquisition is seen as an important milestone in Street Corner Payment's development of its financial landscape, symbolizing its intention to further upgrade from a payment tool to a comprehensive platform that integrates securities, wealth management, or asset management. Street Corner Payment currently has over 6.73 million users, second only to LINE Pay, and this acquisition may also open the door to its "one-stop investment and wealth management" services.

Beijing Silver reported a loss of 16.68 million yuan, and the securities business was not included in the consolidated system.

Although the sale was successfully completed, Jingcheng Bank also sold at a loss. Reports indicate that Jingcheng Securities has a book value of NT$425,397,758, and the disposal price is clearly below the book value, meaning Jingcheng Bank will recognize a loss of approximately NT$16,680,000.

What is noteworthy is that this time, Jingcheng Securities was not included in the merger plan of its parent company Yongfeng Financial, but was independently liquidated. This indicates that Jingcheng Bank has already split and handled non-core or unfavorable businesses prior to the merger. This has allowed JieKou Payment to enter the market and directly take over a securities company that already has operational scale.

Yongfeng Bank x Jingcheng Bank merger countdown, financial holdings landscape reshuffled

On the other hand, the merger between Beijing Bank and Yongfeng Financial Holdings is in the final stage. The merger resolution was passed at the shareholders' meeting in March this year, and the merger is expected to be completed by the fourth quarter of 2025. According to the exchange conditions, each ordinary share of Jingcheng Bank can be exchanged for 26.75 yuan in cash and 1.15 shares of Yongfeng Gold shares, with a total consideration equivalent to 59.9 billion yuan, a premium of about 8.8%.

After the merger is completed, Yongfeng Financial will have up to 191 branches across Taiwan, enhancing its presence in the southern region and strengthening its overall layout in Taiwan. The sale of Jingcheng Securities can also be seen as part of the bank's efforts to clean up assets and focus on its core banking business before the merger.

Next step for Street Corner: Create a super App for payments + securities + wealth management?

With the inclusion of Jingcheng Securities under its umbrella, Jiekou Payment has obtained a ticket to enter the TradFi industry, further fueling the market's imagination about its future layout. It is expected to integrate functions such as "payment, accounts, investment, and wealth management product subscriptions," challenging traditional brokers and digital banks.

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StreetPay started with mobile payments and has established a solid foundation through StreetPay accounts, QR Code payment flows, and partnerships with small and medium-sized businesses. Now, facing competitors like LINE Bank and Rakuten Bank, if StreetPay can successfully integrate securities services, it is likely to capture the financial management market of the new generation of users.

This article discusses StreetPay's acquisition of Jingcheng Securities for 408 million: expanding a one-stop application for "investment, wealth management, and payment"? First appeared in Chain News ABMedia.