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Payments in Taiwan 2017: What Consumers Want?

Published By :

GlobalData

Published Date : Sep 2017

Category :

Banking

No. of Pages : 47 Pages

Payments in Taiwan 2017: What Consumers Want?

Summary

"Payments in Taiwan 2017: What Consumers Want?", report examines the consumer payments market in Taiwan, considering payment cards, online payments, P2P payments, and newer payment technologies such as mobile wallets and contactless. The report also examines the main regulatory players overseeing the market.

Taiwan remains a cash-driven economy, although new payment technologies are expected to gradually increase in importance. While the necessary infrastructure is in place, the government has taken a number of initiatives to reduce dependence on cash and promote electronic transactions, supported by the central bank. Apart from the traditional payment options such as cards, the e-commerce market is acting as a driver for electronic payments market growth, owing to the availability of multiple payment options such as card on delivery, bank transfers, and digital and mobile wallets; which is expected to significantly drive electronic payments through 2021.

It provides in-depth analysis of the following -
- Analyzes consumer attitudes to financial services by lifestage.
- Analyzes the major payment card types in terms of both card holding and usage.
- Identifies the major competitors in card issuing and how their position in the market has changed over the last five years.
- Considers consumer attitudes towards P2P tools, mobile payment tools, and contactless cards, and how companies in Taiwan are deploying these tools to meet customer needs.
- Explores the online payment market in Taiwan by merchant type and payment tool, as well as providing a five-year forecast for the development of the market.

Scope

- Consumers in Taiwan have a strong inclination towards cash for day-to-day transactions despite the gradual rise in electronic payments.
- There is significant future growth potential in e-commerce, which will be driven by an increase in mobile internet penetration as well as the emerging middle class.
- Taiwans payment acceptance network is still underdeveloped, with only 1 point of sale terminal per 195 people and 1 ATM per 868 people in 2017.

Reasons to buy

- Understand the key facts and figures in the consumer payments market in Taiwan.
- Learn what trends drive consumer behavior at the macro level and plan your strategy accordingly.
- Find out what products the major competitors are launching in the market.
- Discover consumer sentiments towards various payment tools in the Taiwanese market and use this knowledge to inform product design.
Table of Contents
Market Overview
Megatrends
Card-based Payments
E-commerce Payments
Alternative Payments
Payments Infrastructure & Regulation
Appendix



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