Mobile payments more than double to NT$240.7 billion

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(The Taipei Times)

Mobile payments more than double to NT$240.7 billion

  • By Kao Shih-ching / Staff reporter

Mobile payments in Taiwan last year more than doubled to NT$240.7 billion (US$8.54 billion) from NT$118.2 billion a year earlier as a trend toward ditching wallets and paying with mobile devices continued, Financial Supervisory Commission (FSC) data showed yesterday.

Growth of mobile payments has at least doubled each year since 2016, when it totaled NT$1.49 billion, rising to NT$14.8 billion in 2017 and NT$47.8 billion in 2018, the data showed.

The commission defines mobile payments as those conducted on a personal mobile device via electronic payment platforms such as Line Pay and Jkos Pay, as well as credit card, debit card or stored value card spending through mobile wallets, such as Apple Pay.

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