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 MIC (Market Intelligence & Consulting Institute). Furthermore, they have expanded sales channels through a combined virtual-physical channel strategy.
Domstic Retailers with Electronic Payment Systems
Note: Companies listed above are representatives of local retailers installed with electronic payment systems.?
Source: Respective companies, compiled by MIC, August 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 the leading IT research institutes in Taiwan.
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