Taiwan's Retailers with Membership and Channel Advantages are Making Inroads into Electronic Payment Market
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 in the industry.
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.
List of Topics Covered
- Development of the Taiwan mobile payment industry, which is classified into 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)
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. Furthermore, they have expanded sales channels through a combined virtual-physical channel strategy.
Domestic Retailers with Electronic Payment Systems
Note: Companies listed above are representatives of local retailers installed with electronic payment systems.
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Table of Contents
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- 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
Methodology
Primary research with a holistic, cross-domain approach
The exhaustive primary research methods are central to the value that the analyst delivers. A combination of questionnaires and on-site visits to the major manufacturers provides a first view of the latest data and trends. Information is subsequently validated by interviews with the manufacturers' suppliers and customers, covering a holistic industry value chain. This process is backed up by a cross-domain team-based approach, creating an interlaced network across numerous interrelated components and system-level devices to ensure statistical integrity and provide in-depth insight.
Complementing primary research is a running database and secondary research of industry and market information. Dedicated research into the macro-environmental trends shaping the ICT industry also allows the analyst to forecast future development trends and generate foresight perspectives. With more than 20 years of experience and endeavors in research, the methods and methodologies include:
Method
- Component supplier interviews
- System supplier interviews
- User interviews
- Channel interviews
- IPO interviews
- Focus groups
- Consumer surveys
- Production databases
- Financial data
- Custom databases
Methodology
- Technology forecasting and assessment
- Product assessment and selection
- Product life cycles
- Added value analysis
- Market trends
- Scenario analysis
- Competitor analysis
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