The Cards and Payments Industry in Taiwan – Emerging Trends and Opportunities to 2021

2017-05-01
Price :
Published : May-2017
No. of Pages : 49

Taiwan’s e-commerce market is one of the fastest growing in Southeast Asia, and is driven by the rise in internet and smartphone penetration. E-commerce increased from US$22.4 Billion (TWD661.9 Billion) in 2012 to US$35.2 Billion (TWD1.1 Trillion) in 2016, at a review-period CAGR of 11.98%. Behind the growth of e-commerce payments are the multiple payment methods provided by e-commerce websites including payment cards, direct debits, cash or card on delivery, bank transfer and digital and mobile wallets.

Cash continues to be the preferred mode of consumer payment, accounting for 76.3% of the overall payment transaction volume in 2016. Consumers in Taiwan have a strong inclination towards cash for day-to-day transactions, despite the gradual rise in electronic payments. The government of Taiwan has been promoting electronic payments and reducing dependence on cash through various initiatives, such as the Act Governing Electronic Payments Institutions, the launch of the Digital Banking 3.0 Plan to enable credit card payments for government agency fees and taxes, and the establishment of a fintech office and dedicated fund.

Debit cards remain the preferred payment cards among Taiwanese consumers. Debit card penetration in Taiwan stood at 402.1 cards per 100 individuals in 2016, the highest rate compared to peers such as Japan (334.1), South Korea (322.9), New Zealand (251.4), Singapore (178.9), Australia (177.6) and Hong Kong (78.1). As debit cards are typically offered as complimentary products with current accounts, the large banked population has led to the high debit card penetration.

Although small, the credit cards market registered the highest review-period (2012-2016) compound annual growth rates (CAGRs) in terms of both transaction volume and values. The growths can be attributed to a steady rise in the middle-class and young working population, and rising household consumption. It was also supported by a rise in consumer awareness of the benefits of credit cards, such as deferred payments, installment payments, incentives and cashback. Taiwanese consumers are increasingly using credit cards for recurring payments such as utility fees, school tuition, insurance premiums and taxes, as well as at merchant outlets.

The report “The Cards and Payments Industry in Taiwan – Emerging Trends and Opportunities to 2021”, provides top-level market analysis, information and insights into the Taiwanese cards and payments industry.

In particular, this report provides the following –

  • 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 credit transfers, direct debits, cash transactions, checks and payment cards. It also, includes an overview of the country’s key alternative payment instruments.
  • E-commerce 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 in the Taiwanese cards and payments industry.

Companies mentioned in this report: CTBC Bank, CUB, FCB, TCB, HNCB, ESB, Citibank, TIB, Bank of Taiwan, Smartpay, Visa, Mastercard.

Scope

  • This report provides a comprehensive analysis of the Taiwanese cards and payments industry.
  • It provides current values for the Taiwanese cards and payments industry for 2016, and forecast figures to 2021.
  • It details the different demographic, economic, infrastructural and business drivers affecting the Taiwanese cards and payments industry.
  • It outlines the current regulatory framework in the industry.
  • It details marketing strategies used by various banks and other institutions.

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.
Filed in: Banking & Finance
Publisher : GlobalData
More Reports
Title Price Buy Now

Competitor Profile: Monzo

Competitor Profile: Monzo Summary This report provides information and insight into Monzo, including comprehensive coverage of its products and services, comparative assessment with key competitors, information on its performance and revenue model, and important events and milestones. Monzo is a provider of mobile retail and business banking services. By offering retail banking services within a banking app, it enables customers to see all their financial information in an intuitive and engaging way. Monzo partners with a number of different companies to offer a full banking experience. Scope - Monzo now boasts over 2 million customers. - The bank has raised over $350m in funding and is valued at over $1bn. - Monzo started offering business accounts from February 2019. Reasons to buy......
$350

Payments Landscape in Oman: Opportunities and Risks to 2022

Payments Landscape in Oman: Opportunities and Risks to 2022 Summary GlobalData's 'Payments Landscape in Oman: Opportunities and Risks to 2022' report provides detailed analysis of market trends in the Omani cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cards, credit transfers, direct debits, and cheques during the review-period (2014-18e). 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 (2018e-22f). It also offers information on the country's competitive landscape, including the market shares of issuers and schemes. ......
$2750

Payments Landscape in New Zealand: Opportunities and Risks to 2022 (including Consumer Survey Insights)

Payments Landscape in New Zealand: Opportunities and Risks to 2022 (including Consumer Survey Insights) Summary GlobalData's 'Payments Landscape in New Zealand: Opportunities and Risks to 2022 (including Consumer Survey Insights)' report provides detailed analysis of market trends in New Zealand's cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cards, credit transfers, direct debits, and cheques during the review-period (2014-18e). 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 (2018e-22f). It also offers information o......
$2750

Governance, Risk and Compliance – The Maltese Insurance Industry

Governance, Risk and Compliance - The Maltese Insurance Industry Summary GlobalData's 'Governance, Risk and Compliance - The Maltese Insurance Industry' report is the result of extensive research into the insurance regulatory framework in Malta. It provides detailed analysis of the insurance regulations for life, property, motor, liability, personal accident and health, and marine, aviation and transit insurance. The report specifies various requirements for the establishment and operation of insurance and reinsurance companies and intermediaries. The report brings together GlobalData's research, modeling and analysis expertise, giving insurers access to information on prevailing insurance regulations, and recent and upcoming changes in the regulatory framework, taxation and legal syste......
$950

Strategic Market Intelligence: Life Insurance in the Philippines – Key Trends and Opportunities to 2022

Strategic Market Intelligence: Life Insurance in the Philippines - Key trends and Opportunities to 2022 Summary GlobalData's 'Strategic Market Intelligence: Life Insurance in the Philippines - Key Trends and Opportunities to 2022' report provides a detailed outlook by product category for the Philippine life insurance segment. It provides values for key performance indicators such as written premium, gross claims, total assets and total investment income during the review period (2013-2017) and forecast period (2017-2022). The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Philippine economy and demographics, and provides detailed information on the competitive landscape in the country. The report brings together GlobalData's ......
$3999

Strategic Market Intelligence: General Insurance in the Philippines – Key Trends and Opportunities to 2022

Strategic Market Intelligence: General Insurance in the Philippines - Key trends and Opportunities to 2022 Summary GlobalData's 'Strategic Market Intelligence: General Insurance in the Philippines - Key trends and Opportunities to 2022' report provides a detailed outlook by product category for the Philippine general insurance segment. It provides values for key performance indicators such as written premium, penetration, and loss ratio during the review period (2013-2017) and forecast period (2017-2022). The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Philippine economy and demographics, and provides detailed information on the competitive landscape in the country. The report brings together GlobalData's research, modeling......
$3999

Strategic Market Intelligence: Reinsurance in the Philippines – Key Trends and Opportunities to 2022

Strategic Market Intelligence: Reinsurance in the Philippines - Key trends and Opportunities to 2022 Summary GlobalData's 'Strategic Market Intelligence: Reinsurance in the Philippines - Key trends and opportunities to 2022' report provides a detailed outlook by product category for the Philippine reinsurance segment. It provides values for key performance indicators such as premium ceded, and cession rates, during the review period (2013-2017) and forecast period (2017-2022). The report gives a comprehensive overview of the Philippine economy and demographics, and provides detailed information on the competitive landscape in the country. The report brings together GlobalData's research, modeling and analysis expertise, giving reinsurers access to information on segment dynamics and co......
$3999

Competitor Profile: Scalable Capital

Competitor Profile: Scalable Capital Summary Scalable Capital is a digital investment management firm. It creates and manages globally diversified ETF portfolios for its clients to help them achieve their long-term financial goals, supported by proprietary risk management technology. Scalable Capital is available in four countries: Germany, the UK, Austria, and Switzerland. The report provides information and insight into Scalable Capital, including - - Its business and geographical presence. - Comprehensive coverage of its products and services. - A comparison against key competitors. - Information on its revenue model and market potential. - Important events and milestones. Scope - In 2016, Scalable Capital launched in Germany, the UK, and Austria. - In March 2017, Scalable Capital ......
$350

Competitor Profile: Tandem

Competitor Profile: Tandem Summary Tandem is a provider of mobile retail banking services. Its banking app enables customers to see all their financial information in an intuitive and engaging way. It currently offers a cashback Mastercard credit card, a Mastercard credit card for people with limited credit histories, and a range of fixed-term savings accounts. This report provides information and insights into Tandem, including - - Detailed insight into its business and geographical presence. - Comprehensive coverage of its products and services. - Comparative assessment with key competitors. - Information on its performance, including its revenue model. - The company's important events and milestones. Scope - In November 2015, Tandem was launched in the UK. - In August 2017, Tandem ......
$350

UK Insurance Aggregators 2019

UK Insurance Aggregators 2019 Summary "UK Insurance Aggregators 2019", report explores the ever-changing consumer purchasing behavior through price comparison sites. It identifies what is most influential to customers when selecting a policy through this channel and reveals the brand strategies of the four leading sites. Their distinct approaches to advertising are also highlighted, as well as the key factors that will influence the market over the coming years, including regulation and new technology. The percentage of consumers conducting research on price comparison websites at renewal increased in the motor and pet lines, while home and travel insurance saw declines. Motor insurance, the biggest market for aggregators, posted a rise of 4.5 percentage points. This trend was replicate......
$3450
We use cookies to deliver the best possible experience on our website.
By continuing to use this site, or closing this box, you consent to our use of cookies. To learn more, visit our Privacy Policy