allPAY

Nov 7, 2022

This report provides an overview of the mobile payment industry and market in Taiwan, examines the changes in the domestic mobile payment market, highlights the strategies of major players, and looks into future trends in the industry. Taiwan's mobile payment industry is booming. In addition to mobile payment service providers, various cross-industry players such as financial institutions, retailers, communications, and telecommunications service providers have also jumped on the bandwagon. Therefore, the competition in the mobile payment industry has been fierce. According to the statistics of Taiwan's Financial Supervisory Commission, the monthly number of electronic payment users has exceeded 16 million in Taiwan. List of Topics Covered Development of the Taiwan mobile payment industry, which is classified into third-party payment and electronic payment, and includes four key development trends Development of the Taiwan mobile payment market, including monthly data on electronic payment usages and collection and payment amounts of several leading electronic payment service providers in Taiwan, such as JKO Pay, iPass, E.SUN Commercial Bank, EasyCard, etc. Development of leading mobile payment service providers in Taiwan, including Line Pay Co., Pi Mobile, EasyCard Co., JKO Pay Co., iCash Co., and AllPay (OPay) According to the statistics of the Financial Supervisory Commission of Taiwan's Banking Bureau, approximately 16.7 million Taiwanese consumers used electronic payments per month in March 2022, up from 12.1 million in January 2021. There are more than 15 domestic retailers have adopted electronic payment systems. These retailers tend to launch their own mobile payments to integrate with their membership point collection systems and distribution channels with an aim to encourage consumers to make more in-store payments, according to Taiwan's government-backed IT research institute. Furthermore, they have expanded sales channels through a combined virtual-physical channel strategy. Key Topics Covered: 2. Development of the Taiwan Mobile Payment Market 2.1 COVID-19 Drives Growth in Electronic Payment Users and Collection/Payment Amounts 2.2 The Real Time Gross Settlement System to Break Restriction on Cash Flow and Facilitate Cross-border Payment 3. Taiwan mobile payment industry development trends 3.1 Trend #1: Retailers with Membership and Channel Advantages to Make Inroads into Electronic Payment Market 3.2 Trend #2: Electronic Payment and Stored Value Card are Integrated to Expand Channels 3.3 Trend #3: Expanding from Consumer Payment to Diverse Financial Services 3.4 Trend #4: Modular Platform Services Catering to Business Needs and Improve Business Efficiency 4. The Analyst's Perspective Shin Kong Mitsukoshi Corporation TBCASoft Inc.