New Taiwan dollar
New Taiwan dollar (; code: TWD; symbol: NT$, also abbreviated as NT) is the official currency of the Republic of China (ROC) used in Taiwan Area. Formally, one dollar () is divided into ten dimes (), and to 100 cents (), although cents are never used in practice. The New Taiwan dollars has been the currency of Taiwan since 1949, when it replaced the Old Taiwan dollar, at a rate of 40,000 old dollars per one new dollar. There are a variety of alternative names to the units in Taiwan. The unit of dollar is usually written in simpler form as . Colloquially, the currency unit usually called (kuài, literally "piece") in Mandarin, (kho͘, literally "hoop") in Taiwanese Hokkien, and (ngiùn, literally "silver") in Hakka.
Taiwan Railways Administration
Smartcard development in Taiwan is currently fluid. With 13 million cards issued, readers for Mifare
Classic-based EasyCard are already installed at convenience stores like Family Mart.
Legislation authorizing "Third Generation e-Purse" (stored value limit ~US$300) was passed in March 2010, allowing smartcard payments for low-value non-transportation items, like Hong Kong's Octopus Card. Three major competitors hold regional subway/bus fare collection franchises (Taipei's "Youyoka" EasyCard, Mid-Island's "TaiwanTong", and Kaohsiung's "I Pass"), and TRA has active pilots with both EasyCard and TaiwanTong. Taiwan's MOTC expects to eventually integrate all electronic farecard systems nationwide.