Most popular payment method in Taiwan revealed

E-commerce sales have been on a consistent growth path for the last few years in Taiwan

e-payments in taiwan

Most popular payment method in Taiwan revealed. Source: pexels.com

According to GlobalData, the e-commerce market in Taiwan is likely to grow from $35.4 billion in 2020 to $49.9 billion in 2024.

The report reveals that coronacrisis has benefited several e-commerce companies. For instance, PChome Online and Momo.com registered a revenue increase of 12.5% and 26.7% in July 2020, up from last year.

The use of e-payments will rise as consumers move away from cash due to fear of getting infected.

Payment cards are the most preferred payment method for e-commerce purchases in Taiwan, accounting for 53.3% share in 2020.

Alternative payment methods such as Line Pay and Apple Pay are gaining prominence and collectively account for a 20.1% share.

We’ve reported that the 5 biggest e-commerce players in Germany account for almost half of all revenue generated by the 100 biggest online retailers.

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