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Taiwan’s Mobile Payments Outpace Card Payments for the First Time in 1H 2020
Published: Jul 13,2020TAIPEI, Taiwan - Given the availability of four common payment methods (physical cards, cash, electronic stored cards, and mobile payments) of physical stores, 35.3% of Taiwanese consumers chose mobile payments, outpacing physical card (credit/debit) payments’ 33.9% for the first time in the first half of 2020, according to a survey conducted by MIC (Market Intelligence & Consulting Institute), a government think tank and an IT research institute in Taiwan.
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“Based on the MIC findings, although physical cards still remain the most commonly used method for payment in Taiwan, mobile payments’ share continues on the rise to 59.7% in the first half of 2020, up from 43.8% in 2018,” said Robin Hu, senior industry analyst with MIC.
“For Taiwanese consumers, mobile payments and electronic stored cards, the second most common method, are now equally popular.”
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