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Increasing Competition In Taiwan Payment Industry: Ken Research

The report also gives an analysis of the E-commerce market in Taiwan. It also includes an overview of the country's key alternative payment instruments.

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Increasing Competition In Taiwan Payment Industry: Ken Research

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  1. Increasing Competition In Taiwan Payment Industry: Ken Research

  2. Summary • GlobalData's "Payments Landscape in Taiwan: Opportunities and Risks to 2022", 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, credit transfers, direct debit, payment cards, and cheques during the review-period (2014-18e).

  3. Taiwan is a South East Asian state in Republic of China. In the 1960s, Taiwan faced rapid economic growth and industrial development creating a very stable economy. Between 1980s and 1990s, the country changed from a single-party dictatorship to a multi-party democracy. One of the Taiwan’s traditional habits of the locals is the culture of saving and can be seen even today. • Ken Research’s Payment Landscape In Taiwan: Opportunities And Risks To 2022gives a detailed insight about the payment industry in Taiwan. The report extensively talks about current and forecast values for each market in the Taiwan’s cards and payments industry, including debit and credit cards. The report also gives an analysis of the E-commerce market in Taiwan. It also includes an overview of the country's key alternative payment instruments.

  4. All over the world, businesses and consumers have moved from cash to digital and cashless payments and the payments industry is evolving at a fast rate in the countries digital payments are not commonly used due to various reasons. Global payments revenue has been increasing in multi-fold despite many disruptions in the market. Nonbanking digital entrants have changed the customer experience and offer diverse payment options. • As customers have become more and more comfortable with swiping cards and paying through mobile phones, the digitalisation of transaction industry is also expected to give way to its infrastructural development. In Taiwan, various digital players have entered into the market and increased customer awareness has driven the market for the payment industry.

  5. Despite the gradual increase in electronic payments, cash still remains as the preferred mode of payment accounting for more than two-thirds of the transactions in the country by cash. Various government initiatives like the Act Governing Electronic Payments Institutions are encouraging Taiwanese to make electronic payments. Though debit cards are used widely, they are limited merely to cash withdrawals at ATMs. • To encourage the use of credit cards, many public banks have waived transaction fees. Various other market players like Apple Pay, Samsung Pay, Google Pay were also recently launched to drive the demand in the market.

  6. Browse Full Market Report • Payments Landscape in Taiwan: Opportunities and Risks to 2022 • Related reports: • Payments Landscape in Latvia: Opportunities and Risks to 2022 • Payments Landscape in Kazakhstan: Opportunities and Risks to 2022

  7. About Ken Research • Ken Research provides bespoke industry intelligence, equity research reports and business consulting services on gamut of sectors across the globe. We use advanced information management tools, sophisticated analytical systems and methodologies to help our clients with crucial industry information for decision making. • As a leading Online Market Research Report Seller, Ken Research act as a platform for accessing statistics, forecast, business insights, Ideas, concepts and much more.

  8. Contact Us: Ken Research Ankur Gupta, Head Marketing & Communications • sales@kenresearch.com • +91-9015378249

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