Summary
Taiwan Cards and Payments: Opportunities and Risks to 2026
Summary
‘Taiwan Cards and Payments - Opportunities and Risks to 2026’ report provides detailed analysis of market trends in the Taiwanese cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cash, cards, credit transfer, mobile wallets, direct debits, and cheques during the review-period (2018-22e).
The report also analyzes various payment card markets operating in the industry and provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2022e-26f). It also offers information on the country’s competitive landscape, including market shares of issuers and schemes.
TThe report brings together research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers detailed regulatory policies and recent changes in regulatory structure.
The report provides top-level market analysis, information and insights into the Taiwanese cards and payments industry, including -
- Current and forecast values for each market in the Taiwanese cards and payments industry, including debit and credit cards
- Detailed insights into payment instruments including cash, cards, credit transfer, mobile wallets, direct debits, and cheques. It also, includes an overview of the country’s key alternative payment instruments.
- Ecommerce market analysis.
- Analysis of various market drivers and regulations governing the Taiwanese cards and payments industry.
- Detailed analysis of strategies adopted by banks and other institutions to market debit and credit cards.
- Comprehensive analysis of consumer attitudes and buying preferences for cards.
- The competitive landscape of the Taiwanese cards and payments industry.
Scope
- To reduce the dependence on cash in the country, in March 2021 the Financial Supervisory Commission (FSC) announced a non-cash payment transaction measurement index, setting a target value of a 50% increase in the number of non-cash payment transactions by 2023. To achieve this, the FSC has established a working group to promote non-cash payment transactions and has continued to encourage the use of digital payment channels. Partly due to these efforts, the volume, value, and frequency of card-based transactions are set to increase further going forward.
- Contactless payments are gradually being accepted for transport payments. Taiwan High Speed Rail offers contactless ticketing, enabling travelers to use their credit cards to make contactless payments at NFC-enabled ticket machines. Meanwhile, in January 2020, Visa, Mastercard, UnionPay, and JCB allowed their contactless payment cards to be used by consumers who commute using the Taoyuan Airport MRT and Kaohsiung MRT services.
- The proliferation of digital-only banks is driving increased competition in the country’s banking space, thus helping to boost debit card holding. As of November 2021, three digital-only banks have been provided a license to operate in Taiwan by the FSC: LINE Financial Taiwan, Rakuten International Commercial Bank, and Next Commercial Bank. Rakuten International Commercial Bank and LINE Financial Taiwan begun their operations in January 2021 and April 2021 respectively, while Next Financial Bank officially launched in March 2022.
Reasons to Buy
- Make strategic business decisions, using top-level historic and forecast market data, related to the Taiwanese cards and payments industry and each market within it.
- Understand the key market trends and growth opportunities in the Taiwanese cards and payments industry.
- Assess the competitive dynamics in the Taiwanese cards and payments industry.
- Gain insights into marketing strategies used for various card types in Taiwan.
- Gain insights into key regulations governing the Taiwanese cards and payments industry.
