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Consumer Electronics

Taiwan Mobile Payment Market Developments and Industry Trends (pre-order)

August 12, 2022 / Yannie Liao / Catherine Hung

17 Page, Topical Report

US$1,200 (Single User License)

※This pre-order report can be delivered in 5-7 business days after payment

Abstract

Taiwan's mobile payment industry is booming. In addition to mobile payment service providers, various cross-industry players such as financial institutions, retailers, communications, and telecommunications service providers have also jumped on the bandwagon. Therefore, the competition in the mobile payment industry has been fierce. According to the statistics of Taiwan's Financial Supervisory Commission, the monthly number of electronic payment users has exceeded 16 million in Taiwan. This report provides an overview of the mobile payment industry and market in Taiwan, examines the changes in the domestic mobile payment market, highlights the strategies of major players, and looks into future trends of the industry.

Table of Contents

1.Taiwan Mobile Payment Industry Classification

2.Development of the Taiwan Mobile Payment Market

2.1 COVID-19 Drives Growth in Electronic Payment Users and Collection/Payment Amounts

2.2 The Real Time Gross Settlement System to Break Restriction on Cash Flow and Facilitate Cross-border Payment

3.Taiwan mobile payment industry development trends

3.1 Trend #1: Retailers with Membership and Channel Advantages to Make Inroads into Electronic Payment Market

3.2 Trend #2: Electronic Payment and Stored Value Card are Integrated to Expand Channels

3.3 Trend #3: Expanding from Consumer Payment to Diverse Financial Services

3.4 Trend #4: Modular Platform Services Catering to Business Needs and Improve Business Efficiency

4. MIC Perspective

Appendix

List of Companies

List of Topics
Development of the Taiwan mobile payment industry, which is classified into the third-party payment and electronic payment, and includes four key development trends

Development of the Taiwan mobile payment market, including monthly data on electronic payment usages and collection and payment amounts of several leading electronic payment service providers in Taiwan, such as JKO Pay, iPass, E.SUN Commercial Bank, EasyCard, etc.

Development of leading mobile payment service providers in Taiwan, including Line Pay Co., Pi Mobile, EasyCard Co., JKO Pay Co., iCash Co., and AllPay (OPay)

List of Figures
Figure 1 Mobile Payment Industry Classification

Figure 2 The Monthly Electronic Payment Users by Institution in Taiwan, January 2021 – March 2022

Figure 3 The Monthly Collection and Payment Amount of Domestic Electronic Payment Institutions, January 2021 – March 2022

Figure 4 Domestic Retailers with Electronic Payment Systems

List of Tables
Table 1 Mobile Payment Industry Classified by Competent Authority

Table 2 The List of Taiwan's Electronic Payment Institutions

Table 3 Development of Electronic Payment Institutions in Financial Services

Companies covered
Chunghwa Telecom
Costco Wholesale Corporation
CPC Corporation
CTBC Bank
E.SUN Commercial Bank
EasyCard Corporation
Eslite Bookstore
ezPay Corporation
FamilyMart Corporation
Far Eastern Group
Far Eastern International Bank
First Commercial Bank
Formosa Optical Corporation
GAMA Pay Corporation
Global Mall Co.
Hilife Corporation
Hua Nan Commercial Bank
iCash Corporation
iPASS Corporation
Jing-Jan Retail Business Corporation
JKO Corporation
KGI Bank
Land Bank of Taiwan
Line Corporation
Mega International Commercial Bank
NPC Corporation
OK Mart Corporation
O'Pay Electronic Payment Corporation
PChome Corporation
POYA International Corporation
PX Mart Corporation
PXPay Plus
Shanghai Commercial and Savings Bank
Shin Kong Mitsukoshi Corporation
Sunny Bank
Taipei 101 Corporation
Taipei Fubon Bank
Taiwan Business Bank
Taiwan Cooperative Bank
Taiwan Fresh Supermarket Corporation
Taiwan Shin Kong Commercial Bank
TBCASoft Inc.
Tencent
Yuanta Commercial Bank

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