A street-side store in Taiwan that uses mobile payment. Photo by Xinhua News Agency reporter He Zili
Taipei, Feb. 6 (Xinhua) -- Taiwan's payment habits have gradually changed, and the proportion of payments using mobile payments (known in Taiwan as "mobile payments") has become higher and higher.
According to the research data of Taiwan United Credit Card Processing Center, the number and amount of mobile payments accounted for 15.7% and 4.9% of the total credit card consumption in September 2020, respectively; by September 2021, the proportion of transactions increased to 20.2%, and the proportion of amount increased to 7.8%, an increase over the previous year.
Mobile payment can be roughly distinguished into "scan code payment" and "induction payment", the former includes third-party payment with QR code as the main payment method, electric branch agency e-wallet, etc., and the latter includes mobile device wallet based on NFC induction payment.
The Taiwan authorities financial regulator quoted the research data of the Lianka Center as pointing out that in the first quarter of 2020, the number of "scan code payment" and "induction payment" accounted for about 65% and 35%, and the amount accounted for about 48% and 52%; by the third quarter of 2021, the proportion of "scan code payment" has increased to nearly 70%, and the proportion of the amount has increased to 60%, showing that the situation of "scan code payment" being adopted by merchants has gradually increased, and the "sweeping economy" has flourished.
Taiwanese people spend money at street-side dining establishments. Photo by Xinhua News Agency reporter He Zili
Why is Taiwan's influence of "sweeping the economy" gradually expanding? Analysis of the financial regulatory authorities of the Taiwan authorities: The construction cost and technical threshold of "scan code payment" are low, which is conducive to rapid import for merchants; at the same time, "scan code payment" operators can integrate services such as feedback discounts and promotional activities through the App, which are close to people's lives and easy to gain the favor of the people.
Based on the analysis of consumption areas in the first nine months of 2021, The Taiwanese people are more likely to use "scan code payment" in catering, e-commerce, convenience stores, fresh food supermarkets, water and electricity gas, and administrative fees; in transportation and department stores, they use "induction payment" more.
In addition, the average monthly single consumption amount of "induction payment" falls above 580 yuan (NT$, the same below), and the average single consumption amount of "scan code payment" is small, up to 524 yuan.
From the analysis of the gender and age of cardholders in the first nine months of 2021, regardless of men and women, the frequency of mobile payment for groups aged 20 to 50 years old is mostly "scan code payment", accounting for about 70% of the total; the proportion of consumers over 60 years old using "induction payment" is significantly higher than that of other age groups, with a usage rate of 44%.