Taiwan

Taiwan

General Information

  • Population 23.6m
  • Population 15 + 20.6m
  • Online Population 21.2m
  • Area 36,193 km2
  • Currency TWD
  • GDP 668.5bn USD
  • GDP per Capita 28,306 USD
  • Card-based payments
  • Cash-based payments
  • Bank transfer
  • Wallets
  • Other
[{"label":"Card-based payments","value":"46"},{"label":"Cash-based payments","value":"13"},{"label":"Bank transfer","value":"15"},{"label":"Wallets","value":"16"},{"label":"Other","value":"10"}]
Banked population
  • Taiwan 94%
  • Asia Pacific 71%
  • World 67%
Credit card penetration
  • Taiwan 54%
  • Asia Pacific 13%
  • World 19%
Internet penetration
  • Taiwan 90%
  • Asia Pacific 60%
  • World 62%
Smartphone penetration
  • Taiwan 82%
  • Asia Pacific 71%
  • World 70%

In 2019 98% of Taiwanese internet users connected to the internet using their mobile device. In 2021 the number of mobiles in Taiwan increased by 2.2% to just under 29 m in the country. Merchants looking to move into the Taiwanese market should ensure that their site is mobile friendly.

Taiwan has two annual shopping holidays Double 11 (11th November) and Double 12 (12th December). Shopping levels rose by 250% during Taiwan’s Double 11 event in 2020.

Taiwan is another country that is slapping non-resident companies that sell digital content with taxes. Any non-Taiwanese company selling digital content to the Taiwanese populace must, as of 1st January 2021, register with the Taiwanese tax authority if their annual sales exceed 17,224 $US.

Taiwan’s economy grew by 3.1% in 2020 and is forecast to grow by 4.7% in 2021 and 3% in 2022 according to the IMF. Taiwan’s 3.1% growth in 2020 put it first amongst the APAC nations beating China’s 2.3% growth.

Future e-commerce trends (2021-2025)

E-Commerce market size forecast ($US billion)
2021 39.5
2022 43.9
2023 48.3
2024 52.7
2025 57.1
E-Commerce spending per capita ($US)
2021 1673
2022 1857
2023 2046
2024 2234
2025 2422
E-Commerce spending as % of GDP
2021 5.7
2022 6.1
2023 6.5
2024 6.9
2025 7.2

Taiwan

The E-Commerce Market

Top e-commerce segments 2019 | 2020

  1. Electrical Goods: 15% | 15%
  2. Clothing & Footwear: 12% | 12%
  3. Food & Drink: 9% | 11%
  4. Airlines & Hotels: 17% | 9%
  5. Homeware & Furniture: 11% | 6%

Top 3 cross-border shopping origin markets

  1. China
  2. Japan
  3. USA
E-commerce % of total retail
  • Taiwan 10%
  • Asia Pacific 23.8%
  • World 20%
E-commerce completed on a mobile device
  • Taiwan 64%
  • Asia Pacific 59%
  • World 53%

The Credit Card Split

  • Visa
  • Mastercard
  • American Express
  • Local Schemes
  • Other
[{"label":"Visa","value":"25"},{"label":"Mastercard","value":"8"},{"label":"American Express","value":"1"},{"label":"Local Schemes","value":"63"},{"label":"Other","value":"3"}]
  • E-commerce market size ($US billion) 35.4bn USD
  • E-Commerce spending per capita ($US) 1,499 USD
  • E-commerce spending as % of GDP 5.3%

The information on our Insights pages has been compiled by us in cooperation with Datamatics and Wright & Brown. The data shown is partially owned by us and partially owned by GlobalData. © 2021 by PPRO Financial Ltd. No data and information can be used for any further publication without the explicit approval of PPRO.

Taiwan

Local Payment Methods

Alipay Type Wallet Regions Asia Pacific Market relevance High BitPay Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Hyperwallet Type Bank transfer, Gift card, Prepaid voucher Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High PayPal Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Paysera Wallet Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Skrill Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Allied Wallet Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Apple Pay Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Boku Type Carrier billing Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Google Pay Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Konbini Payments Type Cash Regions Asia Pacific Market relevance High Masterpass Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Mobiamo Type Carrier billing Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Razer Gold Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Samsung Pay Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High SWIFT Type Bank transfer Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High LINE Pay Type Wallet Regions Asia Pacific Market relevance Medium Secure Remote Commerce (SRC) Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance Medium Boloro Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 G2A Pay Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 JKOPay Type Wallet Regions Asia Pacific Market relevance High NETELLER Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Splitit Type Instalments Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3

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