Taiwan (Province of China) Cards and Payments: Opportunities and Risks to 2029

The ‘Taiwan (Province of China) Cards and Payments: Opportunities and Risks to 2029' 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, card, credit transfer, direct debits, and cheques during the review-period (2021-25e).

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 (2025e-29f). It also offers information on the country's competitive landscape, including market shares of issuers and schemes.

The report brings together the analyst’s research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers detailed regulatory policies and recent changes in regulatory structure.

The ‘Taiwan (Province of China) Cards and Payments: Opportunities and Risks to 2029' 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, credit transfer, card, cheques and direct debits . It also, includes an overview of the country's key alternative payment instruments.
• Ecommerce 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 of the Taiwanese cards and payments industry.

Key Highlights

• QR-code-based payments have significant growth prospects in Taiwan. In October 2023, to promote QR codes in digital payments, the FISC introduced TWQR; the national standard for QR-based payments. TWQR aims to unify fragmented, QR-driven payment services into interoperable solutions; eliminating the need for merchants and customers to maintain multiple accounts and display numerous QR codes. Furthermore, in January 2024, South Korea’s domestic card system BC Card allowed Taiwanese tourists to pay with TWQR at partner merchants in South Korea. This enables Taiwanese tourists to make hassle-free payments at BC Card's QR-affiliated merchants in South Korea.
• Contactless payment options have been integrated into public transportation systems. As of June 2023, the Taipei Mass Rapid Transit (MRT) has periodically upgraded 1,396 ticketing gates across its 117 stations to facilitate contactless payments using credit cards and mobile wallets, including Apple Pay, Google Pay, and Samsung Pay. Most recently, in June 2025, the Taipei MRT announced plans to enhance ticketing gates to accommodate Apple Pay's Express Mode for credit cards. This feature will enable iPhone users to access the system by simply tapping in and out without the need to unlock their devices with Face ID or Touch ID. Implementation of this upgrade is scheduled to commence in October 2025.
• The government is proactively undertaking regulatory measures to drive electronic payments. In January 2023, the government introduced amendments to the Act Governing Electronic Payment Institutions, first initiated in 2015, aimed at promoting and enhancing the competitiveness of the electronic payment industry. Furthermore, the introduction of the Digital Nation and Innovative Economic Development Plan (2017-25) is facilitating the growth of Taiwan's digital economy and fostering the development of fintechs and digital payment technologies. Additionally, in January 2024, the Financial Supervisory Commission (FSC) set a new target to achieve eight billion non-cash payment transactions by 2026. With these growth initiatives, Taiwan is on the path towards a cash-light economy.

Scope

• Card market size in terms of number of cards, value and volume of transactions in Taiwan long with detailed card segmentation of debit, and credit cards available in the country.
• Market sizing and analysis of major payment instruments including cash, credit transfer, card, cheques and direct debits .
• Payment market trends and growth for both historical and forecast period
• Competitor analysis with detailed insights into leading card issuers and schemes.
• Comprehensive analysis of consumer attitudes and buying preferences for cards.
• A detailed snapshot of country's key alternative payment brands.

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.