DUBLIN–(BUSINESS WIRE)–The “Taiwan Cards and Payments – Opportunities and Risks to 2025” report has been added to ResearchAndMarkets.com’s offering.
The report provides detailed analysis of market trends in the Taiwanese cards and payments industry. It provides values and volumes for key performance indicators in the industry, including cash, cards, direct debits, cheques and credit transfers during the review-period (2017-21e).
The report also analyzes various payment card markets operating in the industry and provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2021e-25f). It also offers information on the country’s competitive landscape, including market shares of issuers and schemes. The report brings together the publisher’s research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers detailed regulatory policies and recent changes in regulatory structure.
This report provides top-level market analysis, information and insights into the Taiwanese cards and payments industry, including:
- Current and forecast values for each market in the Taiwanese cards and payments industry, including debit and credit cards.
- Detailed insights into payment instruments including cash, cards, direct debits, cheques and credit transfers. It also includes an overview of the country’s key alternative payment instruments.
- E-commerce market analysis.
- Analysis of various market drivers and regulations governing the Taiwanese cards and payments industry.
- Detailed analysis of strategies adopted by banks and other institutions to market debit and credit cards.
- The competitive landscape of the Taiwanese cards and payments industry.
- To reduce the dependence on cash in the country, in March 2021 the Financial Supervisory Commission (FSC) announced a non-cash payment transaction measurement index, setting a target value of a 50% increase in the number of non-cash payment transactions by 2023 and aiming for transaction value of TWD6.0tn ($213.6bn). To achieve this, the FSC has established a working group to promote non-cash payment transactions and has continued to encourage the use of digital payment channels. Consequently, the volume, value, and frequency of card-based transactions are anticipated to increase further going forward.
- The outbreak of COVID-19 has resulted in a significant shift in consumer preferences towards the use of cashless methods of payment. According to a Visa survey conducted in Taiwan in August 2020, 80% of respondents were favoring payment cards instead of cash. According to the same survey, 44% of respondents said they were using mobile wallets more frequently than before the pandemic.
- Mobile payments have gained widespread acceptance due to increasing consumer awareness and acceptance among merchants. As per data on mobile payments released by the Taiwan Financial Regulatory Commission in March 2021, the value of mobile payment transactions in Taiwan increased by 132% in 2020 compared to 2019. In addition, the volume of mobile payment transactions doubled in 2020 compared to 2019. With the country taking steps to accelerate the introduction and usage of electronic payment systems, this trend is likely to continue over the coming years.
Key Topics Covered:
- Executive Summary
- Market Overview
- Payment Instruments
- Card-Based Payments
- Ecommerce Payments
- Buy Now Pay Later
- Mobile Payments
- P2P Payments
- Bill Payments
- Alternative Payments
- Payment Innovations
- Job Analysis
- Payment Infrastructure and Regulation
- Central Bank of the Republic of China (Taiwan)
- Chunghwa Post
- CTBC Bank
- E.SUN Bank
- Taiwan Cooperative Bank
- Apple Pay
- Google Pay
- Samsung Pay
- LINE Pay
For more information about this report visit https://www.researchandmarkets.com/r/sx1ewc
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