Research By Markets adds Market Research Report - Taiwan Cards & Payments: Opportunities and Risks to 2023
For detailed information: https://www.researchbymarkets.com/report/taiwan-cards-payments-opportunities-and-risks-to-2023-406731.html
Taiwan Cards & Payments: Opportunities and Risks to 2023
‘Taiwan Cards & Payments: Opportunities and Risks to 2023’ report provides detailed analysis of market trends in Taiwan’s cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cards, credit transfers, direct debits, and cheques during the review-period (2015-19e).
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 (2019e-23f). It also offers information on the country’s competitive landscape, including market shares of issuers and schemes.
The report brings together 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.
‘Taiwan Cards & Payments: Opportunities and Risks to 2023’ report provides top-level market analysis, information and insights into Taiwan’s cards and payments industry, including –
– Current and forecast values for each market in Taiwan’s cards and payments industry, including debit and credit cards.
– Detailed insights into payment instruments including cash, cards, credit transfers, direct debits, and cheques. 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 Taiwan’s cards and payments industry.
– Detailed analysis of strategies adopted by banks and other institutions to market debit and credit cards.
– Mobile payments have gained widespread acceptance due to increasing consumer awareness and acceptance among merchants. According to the Financial Supervisory Commission (FSC), mobile payment transaction value reached TWD47.8bn ($1.56bn) in 2018. This represented a more than threefold hike from TWD14.8bn ($483.42m) in 2017, mainly due to aggressive promotion by mobile wallet providers and government support for mobile payments. The government aims to increase the percentage of mobile phone users who make mobile payments to 90% by 2025. The government is also offering tax incentives to small businesses, allowing them to continue to pay business tax of 1% until the end of 2020, even if they expand their business operations – as long as they provide mobile payment options to customers. The government estimates that 400,000 small businesses will benefit from the initiative.
– To benefit from the growing consumer preference for digital banking, banks in Taiwan have launched digital-only banks. Targeting millennials, Taishin International Bank launched its digital-only bank Richart in 2016. As of November 2018 the bank had received over 450,000 applications for its savings account. Part of Richart’s appeal lies in its attractive proposition, which includes a 1% interest rate on savings, low investment starting from TWD10 ($0.33), and cashback of 3.5%. Meanwhile, Cathay United Bank launched its digital-only bank KOKO Bank. Account holders can opt for Visa Financial Card or Mastercard debit card.
– To benefit from the growing preference for alternative payment solutions, a number of international companies have entered the market. Android Pay launched in Taiwan in June 2017. Now called Google Pay, the solution enables users to make in-store and online payments. The app supports cards issued by CTBC Bank, Cathay United Bank, E.SUN Bank, EnTie Bank, First Bank, HSBC, Hua Nan Bank, The Shanghai Commercial & Savings Bank, Standard Chartered, Shin Kong Bank, Taishin International Bank, and Union Bank of Taiwan. Apple Pay and Samsung Pay were rolled out in the market in March 2017 and May 2017 respectively.
Reasons to buy
– Make strategic business decisions, using top-level historic and forecast market data, related to Taiwan’s cards and payments industry and each market within it.
– Understand the key market trends and growth opportunities in Taiwan’s cards and payments industry.
– Assess the competitive dynamics in Taiwan’s cards and payments industry.
– Gain insights into marketing strategies used for various card types in Taiwan.
– Gain insights into key regulations governing Taiwan’s cards and payments industry.
Hua Nan Bank
Taiwan Cooperative Bank
Cathay United Bank
First Commercial Bank
Taishin International Bank
For queries regarding this report: https://www.researchbymarkets.com/sample-request/406731
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