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Country Report

Financial Cards and Payments in

Financial Cards and Payments in Taiwan

Dec 2020

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Executive Summary

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COVID-19 impact on consumer payments

Taiwan moved swiftly to contain COVID-19 and this appears to have paid dividends with far fewer cases and deaths recorded compared to comparable-sized markets. As such, the government has not felt compelled to introduce such strict restrictions as seen elsewhere, with this allowing consumers to spend more freely.

COVID-19 country impact

The government in Taiwan has not introduced any lockdowns to date. From 28 January, it started quarantining people with travel histories that might have exposed them to COVID-19.

Government introduces its “Triple Stimulus Voucher” scheme

In response to COVID-19, the Taiwanese government launched its ‘Triple Stimulus Voucher” programme to help stimulate Taiwan's sagging economy. The programme allows Taiwanese citizens as well as foreign spouses to purchase vouchers worth TWD3,000 (USD105) for TWD1,000 (USD35).

Payment providers move to assist foodservice operators during COVID-19

Social distancing rules have led to a dramatic increase in online food delivery and takeaway transactions in 2020. Mobile wallet, JKoPay, introduced its “JKo Coupon” for small and medium-sized foodservice merchants to help provide support.

Competitive landscape becomes tougher as COVID-19 puts a dent in sales

In Taiwan one of the key attractions for consumers when it comes to choosing their preferred payment method is the rewards and benefits they receive. This is one of the kay factors behind the importance of credit cards, which typically have among the best reward schemes.

What next for consumer payments?

Taiwan has so far managed to successfully contain the spread of COVID-19 within its borders and as such the impact on its economy is not expected to be as significant as in many other markets. GDP is expected to decline by 1.

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Overview

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Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.

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Overview

Discover the latest market trends and uncover sources of future market growth for the Financial Cards and Payments industry in Taiwan with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Financial Cards and Payments industry in Taiwan, our research will save you time and money while empowering you to make informed, profitable decisions.

The Financial Cards and Payments in Taiwan market research report includes:

Analysis of key supply-side and demand trends
Historic volumes and values, company and brand market shares
Five year forecasts of market trends and market growth
Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

What is the market size of Financial Cards and Payments in Taiwan?
What are the major operators and issuers in Taiwan?
How will regulation impact the market?
What is the current state of emerging payment technologies such as mobile commerce?

Why buy this report?

Gain competitive intelligence about market leaders
Track key industry trends, opportunities and threats
Inform your marketing, brand, strategy and market development, sales and supply functions

Euromonitor’s industry reports, including Financial Cards and Payments in Taiwan, originate from our database within our Consumer Finance market share and market size database, Passport, a platform which analyses Consumer Finance in 46 countries and globally.

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Financial Cards and Payments in Taiwan - Industry Overview

EXECUTIVE SUMMARY

COVID-19 impact on consumer payments

COVID-19 country impact

Government introduces its “Triple Stimulus Voucher” scheme

Payment providers move to assist foodservice operators during COVID-19

Competitive landscape becomes tougher as COVID-19 puts a dent in sales

What next for consumer payments?

MARKET INDICATORS

Table 1 Number of POS Terminals: Units 2015-2020
Table 2 Number of ATMs: Units 2015-2020
Table 3 Value Lost to Fraud 2015-2020
Table 4 Card Expenditure by Location 2020
Table 5 Financial Cards in Circulation by Type: % Number of Cards 2015-2020
Table 6 Domestic versus Foreign Spend 2020

MARKET DATA

Table 7 Financial Cards by Category: Number of Cards in Circulation 2015-2020
Table 8 Financial Cards by Category: Number of Accounts 2015-2020
Table 9 Financial Cards Transactions by Category: Value 2015-2020
Table 10 Financial Cards by Category: Number of Transactions 2015-2020
Table 11 Consumer Payments by Category: Value 2015-2020
Table 12 Consumer Payments by Category: Number of Transactions 2015-2020
Table 13 M-Commerce by Category: Value 2015-2020
Table 14 M-Commerce by Category: % Value Growth 2015-2020
Table 15 Financial Cards: Number of Cards by Issuer 2015-2019
Table 16 Financial Cards: Number of Cards by Operator 2015-2019
Table 17 Financial Cards: Card Payment Transactions Value by Operator 2015-2019
Table 18 Financial Cards: Card Payment Transactions Value by Issuer 2015-2019
Table 19 Forecast Financial Cards by Category: Number of Cards in Circulation 2020-2025
Table 20 Forecast Financial Cards by Category: Number of Accounts 2020-2025
Table 21 Forecast Financial Cards Transactions by Category: Value 2020-2025
Table 22 Forecast Financial Cards by Category: Number of Transactions 2020-2025
Table 23 Forecast Consumer Payments by Category: Value 2020-2025
Table 24 Forecast Consumer Payments by Category: Number of Transactions 2020-2025
Table 25 Forecast M-Commerce by Category: Value 2020-2025
Table 26 Forecast M-Commerce by Category: % Value Growth 2020-2025

DISCLAIMER

GLOBAL MACROECONOMIC ENVIRONMENT

GLOBAL INDUSTRY ENVIRONMENT

SOURCES

Summary 1 Research Sources

Charge Cards in Taiwan - Category analysis

KEY DATA FINDINGS

2020 IMPACT

Reliance on foreign transactions puts significant pressure on charge cards

Charge cards losing appeal as travel and entertainment put on hold

American Express launches enhanced Platinum Card for Taiwan

RECOVERY AND OPPORTUNITIES

Are charge cards on the way out?

Competition from premium credit cards set to intensify

CATEGORY DATA

Table 27 Charge Cards: Number of Cards in Circulation 2015-2020
Table 28 Charge Cards Transactions 2015-2020
Table 29 Charge Cards in Circulation: % Growth 2015-2020
Table 30 Charge Cards Transactions: % Growth 2015-2020
Table 31 Commercial Charge Cards: Number of Cards in Circulation 2015-2020
Table 32 Commercial Charge Cards Transactions 2015-2020
Table 33 Commercial Charge Cards in Circulation: % Growth 2015-2020
Table 34 Commercial Charge Cards Transactions: % Growth 2015-2020
Table 35 Personal Charge Cards: Number of Cards in Circulation 2015-2020
Table 36 Personal Charge Cards Transactions 2015-2020
Table 37 Personal Charge Cards in Circulation: % Growth 2015-2020
Table 38 Personal Charge Cards Transactions: % Growth 2015-2020
Table 39 Charge Cards: Number of Cards by Issuer 2015-2019
Table 40 Charge Cards: Number of Cards by Operator 2015-2019
Table 41 Charge Cards Payment Transaction Value by Issuer 2015-2019
Table 42 Charge Cards Payment Transaction Value by Operator 2015-2019
Table 43 Commercial Charge Cards: Number of Cards by Issuer 2015-2019
Table 44 Commercial Charge Cards: Number of Cards by Operator 2015-2019
Table 45 Commercial Charge Cards Payment Transaction Value by Issuer 2015-2019
Table 46 Commercial Charge Cards Payment Transaction Value by Operator 2015-2019
Table 47 Personal Charge Cards: Number of Cards by Issuer 2015-2019
Table 48 Personal Charge Cards: Number of Cards by Operator 2015-2019
Table 49 Personal Charge Cards Transaction Value by Issuer 2015-2019
Table 50 Personal Charge Cards Transaction Value by Operator 2015-2019
Table 51 Forecast Charge Cards: Number of Cards in Circulation 2020-2025
Table 52 Forecast Charge Cards Transactions 2020-2025
Table 53 Forecast Charge Cards in Circulation: % Growth 2020-2025
Table 54 Forecast Charge Cards Transactions: % Growth 2020-2025
Table 55 Forecast Commercial Charge Cards: Number of Cards in Circulation 2020-2025
Table 56 Forecast Commercial Charge Cards Transactions 2020-2025
Table 57 Forecast Commercial Charge Cards in Circulation: % Growth 2020-2025
Table 58 Forecast Commercial Charge Cards Transactions: % Growth 2020-2025
Table 59 Forecast Personal Charge Cards: Number of Cards in Circulation 2020-2025
Table 60 Forecast Personal Charge Cards Transactions 2020-2025
Table 61 Forecast Personal Charge Cards in Circulation: % Growth 2020-2025
Table 62 Forecast Personal Charge Cards Transactions: % Growth 2020-2025

Credit Cards in Taiwan - Category analysis

KEY DATA FINDINGS

2020 IMPACT

Spending on foreign travel drops sharply impeding growth

Commercial credit cards suffer a further blow due to COVID-19

Mobile wallets on the rise as Taiwan pushes towards a cashless society

RECOVERY AND OPPORTUNITIES

Consumers in Taiwan eager to start spending again

Co-branded credit cards continue to offer potential

Competitive landscape likely to become increasingly congested as credit cards reach maturity

CATEGORY DATA

Table 63 Credit Cards: Number of Cards in Circulation 2015-2020
Table 64 Credit Cards Transactions 2015-2020
Table 65 Credit Cards in Circulation: % Growth 2015-2020
Table 66 Credit Cards Transactions: % Growth 2015-2020
Table 67 Commercial Credit Cards: Number of Cards in Circulation 2015-2020
Table 68 Commercial Credit Cards Transactions 2015-2020
Table 69 Commercial Credit Cards in Circulation: % Growth 2015-2020
Table 70 Commercial Credit Cards Transactions: % Growth 2015-2020
Table 71 Personal Credit Cards: Number of Cards in Circulation 2015-2020
Table 72 Personal Credit Cards Transactions 2015-2020
Table 73 Personal Credit Cards in Circulation: % Growth 2015-2020
Table 74 Personal Credit Cards Transactions: % Growth 2015-2020
Table 75 Credit Cards: Number of Cards by Issuer 2015-2019
Table 76 Credit Cards: Number of Cards by Operator 2015-2019
Table 77 Credit Cards Payment Transaction Value by Issuer 2015-2019
Table 78 Credit Cards Payment Transaction Value by Operator 2015-2019
Table 79 Commercial Credit Cards: Number of Cards by Issuer 2015-2019
Table 80 Commercial Credit Cards: Number of Cards by Operator 2015-2019
Table 81 Commercial Credit Cards Payment Transaction Value by Issuer 2015-2019
Table 82 Commercial Credit Cards Payment Transaction Value by Operator 2015-2019
Table 83 Personal Credit Cards: Number of Cards by Issuer 2015-2019
Table 84 Personal Credit Cards: Number of Cards by Operator 2015-2019
Table 85 Personal Credit Cards Payment Transaction Value by Issuer 2015-2019
Table 86 Personal Credit Cards Payment Transaction Value by Operator 2015-2019
Table 87 Forecast Credit Cards: Number of Cards in Circulation 2020-2025
Table 88 Forecast Credit Cards Transactions 2020-2025
Table 89 Forecast Credit Cards in Circulation: % Growth 2020-2025
Table 90 Forecast Credit Cards Transactions: % Growth 2020-2025
Table 91 Forecast Commercial Credit Cards: Number of Cards in Circulation 2020-2025
Table 92 Forecast Commercial Credit Cards Transactions 2020-2025
Table 93 Forecast Commercial Credit Cards in Circulation: % Growth 2020-2025
Table 94 Forecast Commercial Credit Cards Transactions: % Growth 2020-2025
Table 95 Forecast Personal Credit Cards: Number of Cards in Circulation 2020-2025
Table 96 Forecast Personal Credit Cards Transactions 2020-2025
Table 97 Forecast Personal Credit Cards in Circulation: % Growth 2020-2025
Table 98 Forecast Personal Credit Cards Transactions: % Growth 2020-2025

Debit Cards in Taiwan - Category analysis

KEY DATA FINDINGS

2020 IMPACT

COVID-19 drives further shift to cashless payments supporting growth of debit cards

Banks offer incentives to new debit card holders

Debit cards continue to be largely used for ATM withdrawals

RECOVERY AND OPPORTUNITIES

Digital wallets key to the growth of debit cards

Digital banks could provide boost for debit cards

Uncertain economic outlook casts a shadow over the future of debit cards

CATEGORY DATA

Table 99 Debit Cards: Number of Cards in Circulation 2015-2020
Table 100 Debit Cards Transactions 2015-2020
Table 101 Debit Cards in Circulation: % Growth 2015-2020
Table 102 Debit Cards Transactions: % Growth 2015-2020
Table 103 Debit Cards: Number of Cards by Issuer 2015-2019
Table 104 Debit Cards: Number of Cards by Operator 2015-2019
Table 105 Debit Cards Payment Transaction Value by Issuer 2015-2019
Table 106 Debit Cards Payment Transaction Value by Operator 2015-2019
Table 107 Forecast Debit Cards: Number of Cards in Circulation 2020-2025
Table 108 Forecast Debit Cards Transactions 2020-2025
Table 109 Forecast Debit Cards in Circulation: % Growth 2020-2025
Table 110 Forecast Debit Cards Transactions: % Growth 2020-2025

Pre-Paid Cards in Taiwan - Category analysis

KEY DATA FINDINGS

2020 IMPACT

COVID-19 impacts travel and transport

Three players dominate pre-paid cards but most feel the pinch as consumers limit their movements and expenditure

EasyCard launches mobile wallet as focus shifts away from card payments

RECOVERY AND OPPORTUNITIES

Closed loop pre-paid cards suffering from lack of flexibility

Starbucks launches new virtual card

Fast evolving payments landscape set to challenge pre-paid card providers

CATEGORY DATA

Table 111 Pre-paid Cards: Number of Cards in Circulation 2015-2020
Table 112 Pre-paid Cards Transactions 2015-2020
Table 113 Pre-paid Cards in Circulation: % Growth 2015-2020
Table 114 Pre-paid Cards Transactions: % Growth 2015-2020
Table 115 Closed Loop Pre-paid Cards Transactions 2015-2020
Table 116 Closed Loop Pre-paid Cards Transactions: % Growth 2015-2020
Table 117 Open Loop Pre-paid Cards Transactions 2015-2020
Table 118 Open Loop Pre-paid Cards Transactions: % Growth 2015-2020
Table 119 Pre-paid Cards: Number of Cards by Issuer 2015-2019
Table 120 Pre-paid Cards: Number of Cards by Operator 2015-2019
Table 121 Pre-paid Cards Transaction Value by Issuer 2015-2019
Table 122 Pre-paid Cards Transaction Value by Operator 2015-2019
Table 123 Closed Loop Pre-paid Cards: Number of Cards by Issuer 2015-2019
Table 124 Closed Loop Pre-paid Cards: Number of Cards by Operator 2015-2019
Table 125 Closed Loop Pre-paid Cards Transaction Value by Issuer 2015-2019
Table 126 Closed Loop Pre-paid Cards Transaction Value by Operator 2015-2019
Table 127 Open Loop Pre-paid Cards: Number of Cards by Issuer 2015-2019
Table 128 Open Loop Pre-paid Cards: Number of Cards by Operator 2015-2019
Table 129 Open Loop Pre-paid Cards Transaction Value by Issuer 2015-2019
Table 130 Open Loop Pre-paid Cards Transaction Value by Operator 2015-2019
Table 131 Forecast Pre-paid Cards: Number of Cards in Circulation 2020-2025
Table 132 Forecast Pre-paid Cards Transactions 2020-2025
Table 133 Forecast Pre-paid Cards in Circulation: % Growth 2020-2025
Table 134 Forecast Pre-paid Cards Transactions: % Growth 2020-2025
Table 135 Forecast Closed Loop Pre-paid Cards Transactions 2020-2025
Table 136 Forecast Closed Loop Pre-paid Cards Transactions: % Growth 2020-2025
Table 137 Forecast Open Loop Pre-paid Cards Transactions 2020-2025
Table 138 Forecast Open Loop Pre-paid Cards Transactions: % Growth 2020-2025

Megatrends

Country Report

Financial Cards and Payments in Taiwan

New Report Guarantee

Executive Summary

New Report Guarantee

COVID-19 impact on consumer payments

COVID-19 country impact

Government introduces its “Triple Stimulus Voucher” scheme

Payment providers move to assist foodservice operators during COVID-19

Competitive landscape becomes tougher as COVID-19 puts a dent in sales

What next for consumer payments?

Overview

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Samples (FAQs about samples):

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Table of Contents

Financial Cards and Payments in Taiwan - Industry Overview

EXECUTIVE SUMMARY

COVID-19 impact on consumer payments

COVID-19 country impact

Government introduces its “Triple Stimulus Voucher” scheme

Payment providers move to assist foodservice operators during COVID-19

Competitive landscape becomes tougher as COVID-19 puts a dent in sales

What next for consumer payments?

MARKET INDICATORS

MARKET DATA

DISCLAIMER

GLOBAL MACROECONOMIC ENVIRONMENT

GLOBAL INDUSTRY ENVIRONMENT

SOURCES

Charge Cards in Taiwan - Category analysis

KEY DATA FINDINGS

2020 IMPACT

Reliance on foreign transactions puts significant pressure on charge cards

Charge cards losing appeal as travel and entertainment put on hold

American Express launches enhanced Platinum Card for Taiwan

RECOVERY AND OPPORTUNITIES

Are charge cards on the way out?

Competition from premium credit cards set to intensify

CATEGORY DATA

Credit Cards in Taiwan - Category analysis

KEY DATA FINDINGS

2020 IMPACT

Spending on foreign travel drops sharply impeding growth

Commercial credit cards suffer a further blow due to COVID-19

Mobile wallets on the rise as Taiwan pushes towards a cashless society

RECOVERY AND OPPORTUNITIES

Consumers in Taiwan eager to start spending again

Co-branded credit cards continue to offer potential

Competitive landscape likely to become increasingly congested as credit cards reach maturity

CATEGORY DATA

Debit Cards in Taiwan - Category analysis

KEY DATA FINDINGS

2020 IMPACT

COVID-19 drives further shift to cashless payments supporting growth of debit cards

Banks offer incentives to new debit card holders

Debit cards continue to be largely used for ATM withdrawals

RECOVERY AND OPPORTUNITIES

Digital wallets key to the growth of debit cards

Digital banks could provide boost for debit cards

Uncertain economic outlook casts a shadow over the future of debit cards

CATEGORY DATA

Pre-Paid Cards in Taiwan - Category analysis

KEY DATA FINDINGS

2020 IMPACT

COVID-19 impacts travel and transport

Three players dominate pre-paid cards but most feel the pinch as consumers limit their movements and expenditure

EasyCard launches mobile wallet as focus shifts away from card payments

RECOVERY AND OPPORTUNITIES

Closed loop pre-paid cards suffering from lack of flexibility

Starbucks launches new virtual card

Fast evolving payments landscape set to challenge pre-paid card providers

CATEGORY DATA

Store Cards in Taiwan - Category analysis

KEY DATA FINDINGS

2020 IMPACT

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