Taiwan Cards and Payments - Opportunities and Risks to 2024

November 2020 •
71 pages •
Report ID: 5810735 •
Format: PDF

Summary
Table of contents
Search Inside

Taiwan Cards and Payments - Opportunities and Risks to 2024

Summary
’Taiwan Cards and Payments - Opportunities and Risks to 2024’ 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 transfers, direct debits, and cheques during the review-period (2016-20e).

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 (2020e-24f). It also offers information on the country’s competitive landscape, including the market shares of issuers and schemes.

The 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 details of regulatory policy and recent changes in the regulatory structure.

This 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 transfers, direct debits, and cheques. 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.

Scope
- In July 2019 the Financial Supervisory Commission (FSC) reviewed and approved applications from three consortiums and granted them approval to set up internet-only banks in the country. The three banks were: LINE Financial Taiwan (a consortium consisting of South Korea’s LINE Corp, Taipei Fubon Commercial Bank, CTBC Bank, Standard Chartered Bank, Union Bank of Taiwan, and telecoms operators FarEasTone and Taiwan Mobile); Rakuten International Commercial Bank (a consortium consisting of Japanese tech major Rakuten and IBF Financial Holdings); and Next Commercial Bank (a consortium led by Taiwanese telco Chunghwa Telecom).
- To capitalize on the growing consumer preference for digital banking, banks are setting up self-service banking machines called smart teller machines (STMs), which require less human interaction and provide access to digital banking. As of December 2019, Mega International Commercial Bank had deployed 77 STMs in its branches across Taiwan. These machines allow individuals to open a bank account and apply for a payment card. The launch of STMs has significantly reduced the time it takes for consumers to open an account with the bank, taking an average of 19 minutes - compared to one hour when opening an account over the counter.
- To capitalize on growing use of contactless cards, in January 2020 Visa, Mastercard, UnionPay, and JCB allowed their contactless payment card offerings to be used by consumers who commute via the Taoyuan Airport Mass Rapid Transit (MRT) and Kaohsiung MRT services. Domestic and international card holders can tap their credit cards at the gates leading to the platform, eliminating the need to stand in line to purchase train tickets. The convenience of this payment method is likely to further accelerate the growth of contactless payments in the country.

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.

Ahmad helps you find the right report:

+1 718 618 4302
Contact by email

FAQ

Testimonials

The market research advisor answered my questions quickly and professionally. ReportBuyer's team did their best to ensure that I felt comfortable before making the investment to purchase the report.

Cristian Nunez

Director of Corporate Development Chugach Alaska Corporation

My overall experience with ReportBuyer today has been very positive, and I must thank you for your patience (...). Also, the sample you sent me and the explanations provided were very helpful.

D. Lescuyer

Executive Vice President Oral Business at Skyepharma

The research specialist was very helpful, and proposed the best content for my needs. ReportBuyer also offered a great follow-up, thanks for everything !

P. Thompson

EMEA Managing Director

We were satisfied with the support that ReportBuyer's team provided. Thanks to their recommendations, the report we purchased provided exactly what we want.

Y. Wang

Business Analyst

We didn't have time to do the research internally, and thanks to ReportBuyer's team we were able to find the appropriate data.

S. Chen

Research Coordinator

I was impressed by the customer service: it was fast, responsive, and 100% professional !

D. Krivan

Market Research Analyst

The research specialist provided prompt and helpful service. He also followed up to ensure I had all the information to deliver my business development plan.

C. Adams

Senior Business Development Manager