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Emerging Opportunities in Taiwans Cards and Payments Industry: Market Size, Trends and Drivers, Strategies, Products and Competitive Landscape

Published By :

Timetric

Published Date : Jul 2013

Category :

Banking

No. of Pages : 68 Pages

Synopsis

The report provides market analysis, information and insights into Taiwan\'s cards and payments market, including:

  • Current and forecast values for each category of Taiwan\'s cards and payments industry including debit cards, credit cards, prepaid cards and charge cards
  • Comprehensive analysis of the industry’s market attractiveness and future growth areas
  • Analysis of various market drivers and regulations governing Taiwan\'s cards and payments industry
  • Detailed analysis of the marketing strategies adopted for selling debit, credit, charge and prepaid cards used by various bankers and other institutions in the market
  • Comprehensive analysis of consumer attitudes and their buying preferences for cards
  • Competitive landscape of Taiwan\'s cards and payments industry

Executive summary

The Taiwanese card payments channel demonstrated moderate growth during the review period. In terms of number of cards in circulation, the channel grew at a CAGR of 2.41% to reach 119.0 million in 2012. Robust banking infrastructure in the country and a shift towards cashless transactions by consumers contributed to the growth of the channel during the review period. Card volume is expected to grow at a CAGR of 2.49% over the forecast period, to reach 135.8 million in 2017. In terms of transaction value, the card payments channel declined from TWD12.6 trillion (US$400.1 billion) in 2008 to TWD10.6 trillion (US$356.8 billion) in 2012, at a review-period CAGR of -4.34%. 

This was due to a 27.2% decline in card transaction value in 2009 due to the global financial crisis. While card transaction value has recovered and shown positive growth since 2010, it is yet to reach pre-recession levels. It is expected to grow from TWD11.0 trillion (US$373.0 billion) in 2013 to TWD13.2 trillion (US$447.6 billion) in 2017, at a forecast-period CAGR of 4.65%. In 2012, debit cards dominated the card payments channel with a 68.5% share, followed by credit cards with 29.2%.

Scope

  • This report provides a comprehensive analysis of Taiwan\'s cards and payments industry
  • It provides current values for Taiwan\'s cards and payments industry for 2012 and forecast figures for 2017
  • It details the different macroeconomic, infrastructural, consumer and business drivers affecting Taiwan\'s cards and payments industry
  • It outlines the current regulatory framework in the industry
  • It details the marketing strategies used by various bankers and other institutions
  • It profiles the major banks in Taiwan\'s cards and payments industry

Reasons to buy

  • Make strategic business decisions using historic and forecast market data related to Taiwan\'s cards and payments industry and each market within it
  • Understand the key market trends and growth opportunities within Taiwan\'s cards and payments industry
  • Assess the competitive dynamics in Taiwan\'s cards and payments industry
  • Gain insights into the marketing strategies used for selling various types of cards in Taiwan
  • Gain insights into key regulations governing Taiwan\'s cards and payment industry

Key highlights

  • The Taiwanese card payments channel demonstrated moderate growth during the review period. In terms of number of cards in circulation, the channel grew at a CAGR of 2.41% to reach 119.0 million in 2012.
  • The total population of Taiwan at the end of 2012 was 23.4 million and the number of cards in the country was 119.0 million, suggesting an average of five cards per person.
  • In Taiwan, mobile commerce, gifts, entertainment, online purchases and travel hold positive growth potential and are expected to drive growth in the debit, credit and prepaid cards categories.
  • In early 2013, Visa Taiwan announced that all major banks in Taiwan are planning to issue debit cards that support payWave technology by the end of 2013. Similarly, MasterCard entered into a partnership with leading banks in the country to issue contactless cards.
Table of contents

1 Executive Summary

2 Market Attractiveness and Future Prospects of the Cards and Payments Industry

3 Analysis of Taiwan\'s Cards and Payments Industry Drivers
3.1 Infrastructure Drivers
3.1.1 Growth in ATMs and POS terminals
3.1.2 Growth of contactless cards
3.1.3 Emergence of NFC-enabled credit cards
3.1.4 Increasing internet users
3.2 Business Drivers
3.2.1 Growth in e-commerce
3.2.2 Development of m-payment technology
3.2.3 Increasing outbound tourism
3.3 Economic Fundamentals
3.3.1 Stable GDP growth
3.3.2 Declining inflation
3.3.3 Urban and rural populations
3.4 Card Fraud Statistics
3.5 Regulatory Framework

4 Emerging Consumer Attitudes and Trends
4.1 Industry Segmentation and Targeting
4.1.1 Retail sector
4.1.2 Corporate sector
4.2 Consumer Preference
4.2.1 Price
4.2.2 Services
4.2.3 Convenience
4.3 Online Buying Behavior

5 Competitive Landscape and Industry Dynamics
5.1 Industry Share Analysis by Payment Channels
5.1.1 Credit transfer
5.1.2 Direct debit
5.1.3 Card payments
5.1.4 Checks
5.2 Debit Cards Category Share
5.2.1 By bank
5.2.2 By scheme
5.3 Credit Cards Category Share
5.3.1 By bank
5.3.2 By scheme
5.4 Charge Cards Category Share

6 Strategies Adopted by Key Operators
6.1 Market Entry Strategies
6.2 Marketing and Product Strategy
6.2.1 Debit cards
6.2.2 Credit cards
6.3 Pricing Strategies

7 Size and Growth Potential of the Card Payments Channel
7.1 Channel Share Analysis by Card Category
7.2 Size and Forecast of the Card Payments Channel
7.2.1 Analysis by number of cards
7.2.2 Analysis by transaction value
7.2.3 Analysis by transaction volume
7.3 Debit Cards Category Size and Forecast
7.3.1 Analysis by number of cards
7.3.2 Analysis by transaction value
7.3.3 Analysis by transaction volume
7.3.4 Other key performance indicators
7.4 Prepaid Cards Category Size and Forecast
7.4.1 Analysis by number of cards
7.4.2 Analysis by segment - open and closed-loop cards
7.4.3 Analysis by transaction value
7.5 Charge Cards Category Size and Forecast
7.5.1 Analysis by number of cards
7.5.2 Analysis by transaction value
7.5.3 Analysis by number of transactions
7.5.4 Analysis by frequency of use
7.6 Credit Cards Category Size and Forecast
7.6.1 Analysis by number of cards
7.6.2 Analysis by transaction value
7.6.3 Analysis by transaction volume
7.6.4 Other key performance indicators

8 Company Profiles, Products and Marketing Strategies
8.1 Citibank Taiwan
8.1.1 Strategies
8.1.2 Credit cards offered
8.2 Taiwan Cooperative Bank
8.2.1 Strategies
8.2.2 Credit cards offered
8.2.3 Debit cards offered
8.3 HSBC Bank (Taiwan) Limited
8.3.1 Strategies
8.3.2 Credit cards offered
8.3.3 Debit cards offered

9 Appendix
9.1 Methodology
9.2 Contact Us
9.3 About Timetric
9.4 Disclaimer

List of Table


Table 1: Taiwanese Payment Channels (TWD Million), 2008 and 2012
Table 2: Market Entry Strategies of Foreign Banks in Taiwan
Table 3: Taiwanese Card Payments Channel by Card Category (Thousands), 2008-2017
Table 4: Taiwanese Card Payments Channel Size by Number of Cards (Thousands), 2008-2017
Table 5: Taiwanese Card Payments Channel Size by Transaction Value (TWD Million), 2008-2017
Table 6: Taiwanese Card Payments Channel Size by Transaction Value (US$ Million), 2008-2017
Table 7: Taiwanese Card Payments Channel Size by Number of Transactions (Million), 2008-2017
Table 8: Taiwanese Debit Cards Category Size by Number of Cards (Thousands), 2008-2017
Table 9: Taiwanese Debit Cards Category Size by Value of Transactions (TWD Million), 2008-2017
Table 10: Taiwanese Debit Cards Category Size by Value of Transactions (US$ Million), 2008-2017
Table 11: Taiwanese Debit Cards Category Size by Number of Transactions (Million), 2008-2017
Table 12: Taiwanese Debit Cards Category by Frequency of Use, 2008-2017
Table 13: Taiwanese Prepaid Cards Category Size by Number of Cards (Thousands), 2008-2017
Table 14: Taiwanese Open-Loop Prepaid Cards Segment Size by Number of Cards (Thousands), 2008-2017
Table 15: Taiwanese Closed-Loop Prepaid Cards Segment Size by Number of Cards (Thousands), 2008-2017
Table 16: Taiwanese Prepaid Cards Category Size by Transaction Value (TWD Million), 2008-2017
Table 17: Taiwanese Prepaid Cards Category Size by Transaction Value (US$ Million), 2008-2017
Table 18: Taiwanese Charge Cards Category Size by Number of Cards (Thousands), 2008-2017
Table 19: Taiwanese Charge Cards Category Size by Transaction Value (TWD Million), 2008-2017
Table 20: Taiwanese Charge Cards Category Size by Transaction Value (US$ Million), 2008-2017
Table 21: Taiwanese Charge Cards Category Size by Number of Transactions (Million), 2008-2017
Table 22: Taiwanese Charge Cards Category by Frequency of Use, 2008-2017
Table 23: Taiwanese Credit Cards Category Size by Number of Cards (Thousands), 2008-2017
Table 24: Taiwanese Credit Cards Category Size by Transaction Value (TWD Million), 2008-2017
Table 25: Taiwanese Credit Cards Category Size by Transaction Value (US$ Million), 2008-2017
Table 26: Taiwanese Credit Cards Category Size by Number of Transactions (Million), 2008-2017
Table 27: Taiwanese Credit Cards Category by Frequency of Use, 2008-2017
Table 28: Taiwanese Credit Cards Category Size by Average Transaction Value (TWD), 2008-2017
Table 29: Taiwanese Credit Cards Category Size by Average Transaction Value (US$), 2008-2017

List of Chart


Figure 1: Taiwan - Growth of Various Card Categories (%), 2008-2017
Figure 2: Growth Potential of Taiwan\'s Cards Payments Channel by Area of Use
Figure 3: Taiwanese Cards and Payments Industry Drivers
Figure 4: Growth in ATMs and POS Terminals in Taiwan (Thousand), 2008-2017
Figure 5: Number of Internet Users in Taiwan (Million), 2008-2012
Figure 6: E-commerce Value in Taiwan (TWD Billion), 2008-2012
Figure 7: M-payment Transaction Value in Taiwan (TWD Million), 2008-2017
Figure 8: Number of Taiwanese Outbound Tourists (Million), 2008-2012
Figure 9: Taiwanese GDP Growth (%), 2008-2017
Figure 10: Taiwanese Inflation Rate (%), 2008-2017
Figure 11: Urbanization in Taiwan (Million), 2008-2017
Figure 12: Taiwanese Card Fraud Statistics (TWD Million), 2008-2012
Figure 13: Taiwanese Card Payments Channel Customer Segmentation
Figure 14: Taiwanese Consumer Preferences on Various Types of Cards
Figure 15: Shares of Different Payment Channels in Taiwan (%), 2008 and 2012
Figure 16: Credit Transfer Transaction Value in Taiwan (TWD Million), 2008-2012
Figure 17: Direct Debit Transaction Value in Taiwan (TWD Million), 2008-2012
Figure 18: Card Payments Transaction Value in Taiwan (TWD Million), 2008-2012
Figure 19: Check Payments Transaction Value in Taiwan (TWD Million), 2008-2012
Figure 20: Taiwanese Debit Cards Category Share by Bank (%), 2011
Figure 21: Taiwanese Debit Cards Category Share by Scheme (%), 2011
Figure 22: Taiwanese Credit Cards Category Share by Bank (%), 2011
Figure 23: Taiwanese Credit Cards Category Share by Scheme (%), 2011
Figure 24: Taiwanese Charge Cards Category Share by Scheme (%), 2011
Figure 25: Taiwanese Card Payments Channel by Card Category (%), 2008-2017
Figure 26: Taiwanese Card Payments Channel Size by Number of Cards (Thousands), 2008-2017
Figure 27: Taiwanese Card Payments Channel Size by Transaction Value (TWD Million), 2008-2017
Figure 28: Taiwanese Card Payments Channel Size by Number of Transactions (Million), 2008-2017
Figure 29: Taiwanese Debit Cards Category Size by Number of Cards (Thousands), 2008-2017
Figure 30: Taiwanese Debit Cards Category Size by Value of Transactions (TWD Million), 2008-2017
Figure 31: Taiwanese Debit Cards Category Size by Number of Transactions (Million), 2008-2017
Figure 32: Taiwanese Debit Cards Category by Frequency of Use, 2008-2017
Figure 33: Taiwanese Prepaid Cards Category Size by Number of Cards (Thousands), 2008-2017
Figure 34: Taiwanese Open-Loop Prepaid Cards Segment Size by Number of Cards (Thousands), 2008-2017
Figure 35: Taiwanese Closed-Loop Prepaid Cards Segment Size by Number of Cards (Thousands), 2008-2017
Figure 36: Taiwanese Prepaid Cards Category Size by Transaction Value (TWD Million), 2008-2017
Figure 37: Taiwanese Charge Cards Category Size by Number of Cards (Thousands), 2008-2017
Figure 38: Taiwanese Charge Cards Category Size by Transaction Value (TWD Million), 2008-2017
Figure 39: Taiwanese Charge Cards Category Size by Number of Transactions (Million), 2008-2017
Figure 40: Taiwanese Charge Cards Category by Frequency of Use, 2008-2017
Figure 41: Taiwanese Credit Cards Category Size by Number of Cards (Thousands), 2008-2017
Figure 42: Taiwanese Credit Cards Category Size by Transaction Value (TWD Million),2008-2017
Figure 43: Taiwanese Credit Cards Category Size by Number of Transactions (Million), 2008-2017
Figure 44: Taiwanese Credit Cards Category by Frequency of Use, 2008-2017
Figure 45: Taiwanese Credit Cards Category Size by Average Transaction Value (TWD), 2008-2017
Figure 46: Citibank Taiwan - Market Segmentation of Cards Offered
Figure 47: Taiwan Cooperative Bank - Market Segmentation of Cards Offered
Figure 48: HSBC Bank (Taiwan) - Market Segmentation of Cards Offered

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