The Cards And Payments Industry In Taiwan - Emerging Trends And Opportunities To 2021

Recent research report on "The Cards and Payments Industry in Taiwan - Emerging Trends and Opportunities to 2021

Summary

GlobalDatas "The Cards and Payments Industry in Taiwan - Emerging Trends and Opportunities to 2021", 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 credit transfers, direct debits, payment cards, checks and cash transactions during the review period (2012-2016).

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 (2017-2021). It also offers information on the country's competitive landscape, including the market shares of issuers and schemes.

The report brings together GlobalDatas 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.

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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 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.

Key Highlights

- As part of government initiatives to promote electronic payments, the National Credit Card Center (NCCC) worked with Metropolitan Taxi Corp. to launch an app for hailing a taxi and making in-app payments in October 2015. Within three months of the launch, 2,000 taxis were providing an in-app payment service in Taiwan.
- The Taiwan Financial Services Commission (TFSC) established a fintech office and a dedicated fintech development fund of US$31 million (TWD1 billion) in 2015. It legalized third-party payment platforms by amending the Act Governing Electronic Payment Institutions, allowing third-party payment companies to open virtual accounts to store funds and allow transfers between e-payment accounts. These initiatives are expected to support growth in electronic payments in Taiwan.
- Rising smartphone use for payments and banks increased focus on cashless payments have led to a proliferation of mobile payments based on near-field communications (NFC). In 2014, the Taiwan Mobile Payment Company (TwMP) launched the T Wallet, based on host card emulation (HCE) technology, in partnership with 27 banks and financial institutions in Taiwan. The wallet allows users to store credit card details in the app to enable NFC or contactless in-store payments using smartphones. Global NFC mobile payment system Apple Pay plans to launch its services in Taiwan over the course of 2017.

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.

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