Taiwan

Taiwan

General Information

  • Population 23.9 m
  • Population 15 + 22.0 m
  • Online Population 22.0 m
  • Area 36,193 km2
  • Currency TWD
  • GDP 785.6 bn USD
  • GDP per Capita 32,925 USD
  • Card-based payments
  • Cash-based payments
  • Bank transfer
  • Wallets
  • Other
[{"label":"Card-based payments","value":"48"},{"label":"Cash-based payments","value":"12"},{"label":"Bank transfer","value":"14"},{"label":"Wallets","value":"18"},{"label":"Other","value":"8"}]
Banked population
  • Taiwan 95%
  • Asia Pacific 71%
  • World 67%
Credit card penetration
  • Taiwan 56%
  • Asia Pacific 13%
  • World 19%
Internet penetration
  • Taiwan 92%
  • Asia Pacific 60%
  • World 62%
Smartphone penetration
  • Taiwan 88%
  • Asia Pacific 71%
  • World 70%

As e-commerce sales are expected to grow rapidly, the Taiwanese government have made as part of their strategy to develop their e-commerce and digital trade, to develop e-commerce shipping warehouses in partner countries. To that end, Ally Logistics Provider have invested in smart warehousing facilities in Malaysia, and is planning to invest in Thailand, Vietnam and the Philippines in the coming years.

The most popular contactless payment method in Taiwan, LINE Pay was used by 9.8 million users during the first three quarters of 2021, with over 146 million transactions, in total worth USD2.45bn.

Social commerce in Taiwan is expected to grow by 48.1% in 2022 to reach USD1.66bn, and is forecast to continue to grow until 2028 by CAGR 41.2% to be worth USD12,530.4m.

And 20% of all credit card payments were made using a mobile phone – an increase of 4.5% on the previous year.

Future e-commerce trends (2021-2026)

E-Commerce market size forecast ($US billion)
2022 47.3
2023 53.0
2024 58.4
2025 63.9
2026 69.0
E-Commerce spending per capita ($US)
2022 2010
2023 2255
2024 2490
2025 2725
2026 2950
E-Commerce spending as % of GDP
2022 5.8%
2023 6.3%
2024 6.8%
2025 7.2%
2026 7.6%

Taiwan

The E-Commerce Market

Top e-commerce segments

  1. Electronics & Media
  2. Fashion
  3. Food & Personal Care
  4. Furniture & Appliances
  5. Toys, Hobby & DIY

Top 3 cross-border shopping origin markets

  1. China
  2. Japan
  3. US
B2C E-commerce Growth 20->21
  • Taiwan 15.4%
E-commerce % of total retail
  • Taiwan 9%
  • Asia Pacific 23.8%
  • World 20%
E-commerce completed on a mobile device
  • Taiwan 56%
  • Asia Pacific 59%
  • World 53%

The Credit Card Split

  • Visa
  • Mastercard
  • American Express
  • Local Schemes
  • Other
[{"label":"Visa","value":"28"},{"label":"Mastercard","value":"7"},{"label":"American Express","value":"1"},{"label":"Local Schemes","value":"60"},{"label":"Other","value":"4"}]
  • E-commerce market size 41.4 bn USD
  • E-Commerce spending per capita 1,757 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

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 UnionPay Type Local payment card 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 Market relevance Medium 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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