Taiwan sees surge in mobile payments amid COVID-19

Increased cellphone use and consumers worried about coronavirus transmission boost mobile wallet use

Taiwan News
Date: 2020/10/02
By: Huang Tzu-ti, Taiwan News, Staff Writer

TAIPEI (Taiwan News) — The amount of mobile payments in Taiwan totaled NT$120.9 billion (US$4.18 billion) during the first seven months in 2020, representing a 156 percent jump year-on-year, as people turn to contactless payments during the coronavirus.

The five most used mobile payment methods are credit cards, debit cards, electronic tickets such as EasyCards, Online to Offline (O2O), and mobile point-of-sale (mPOS), according to the Banking Bureau of the Financial Supervisory Commission.

The growing popularity of mobile wallets can be attributed to the increased availability of the services, and the convenience they bring to customers. Promotions at retailers such as supermarkets have also helped attract a population who used to pay in cash, reported CNA.

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