Taiwanese consumers who favor mobile payment over the other increased from 37% in 2020 to 49.9% in 2021, followed by cards (26%) and cash (16.4%), according to MIC (Market Intelligence & Consulting Institute), a major government think tank and one of leading IT research institutes in Taiwan. Based on MIC’s findings, 49.9% of Taiwanese internet users said they used mobile payment most often when other payment options are also available, followed by cards (26%), and cash (16.4%). The gap between mobile payment and cash is 23.9%.

Method of Payment Most Often Used by Taiwanese Internet Users, July-August 2021 (single-answer question)

 

Note 1: 5,000 effective samples were collected during July-August 2022
Note 2: Numbers may not add up to 100% due to rounding.
Source: MIC, March 2022

When it came to age groups, 58.9% of consumers aged 26-35 preferred mobile payment over the other. At this age group, mobile payment and card had the largest gap. Among respondents aged 26-55, mobile payment was their most favorable payment method when other payment options were available.

What Method of Payment Do Taiwanese Internet Users Typically Use When Other Payment Options are Given, by Age Group, (Single-answer question, % of respondents)

Note: 5,000 effective samples were collected during July-August 2022
Source: MIC, March 2022

Established in 1987, MIC (Market Intelligence & Consulting Institute) is a division of III (Institute for Information Industry), a major government think tank, and one of leading IT research institutes in Taiwan.

To know more about this topic, please visit:  Mobile Payment Trends and Leading Brands' Deployment Strategies (pre-order), Market Trends and Applications of Electronic Stored Value Cards and Strategies of Five Major Asian Vendors

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