Taipei-based government-backed research institute MIC (Market Intelligence& Consulting Institute) of III (Institute for Information Industry) conducted a questionnaire-based survey on Taiwanese consumers in the first half of 2019 to ascertain their views about mobile payments. "The findings suggest up to 96.6% of them have knowledge about mobile payments compared to just 74,9% in 2015,” said Robin Hu, senior industry analyst at MIC. "Based on the findings, consumers of all age groups witness mobile payment usage growth, especially the age group of 26-35 years. This group has the highest growth rate of 14.7% in terms of mobile payment usage as 75.5% of consumers in this group have engaged in mobile payments." There is a shift in Taiwanese customers’ preferences when it comes to choosing a payment method. Because although credit cards are still the mainstream, 27.2% of customers are now choosing mobile payments over other payments this year, up from just 11.2% in 2017.

Customers’ Knowledge about Mobile Payments (Single-choice question)

Note: 1,068 effective samples were collected in 2H 2018 and 534 effective samples were collected in the first half of 2019.

Source: MIC, July 2019

Customer’s Payment Method Preferences (Single-choice question)

Note: 1,068 effective samples were collected in 2H 2018 and 534 effective samples were collected in the first half of 2019.

Source: MIC, July 2019

*The survey period is during April 2019 with 534 effective samples collected.