Top mobile payment in Taiwan are Line Pay, Apple Pay, and JKoPay. As for the most popular form of mobile payment, LINE Pay came in first, followed by the local JKoPay in second, and Apple Pay in third.

According to the NDC, over 10,000 convenience stores, retailers, and restaurants have been made ready for digital wallet transactions.

Some retailers in Taiwan prefer to apply the technologies to allow consumers to swipe their developed bar code for payment, which has also boosted the use of mobile payment. Individuals aged 45 to 65 accounted for more than 50 percent of those prefering to pay with their cell phones last year, indicating a demographic change in the country’s payment preferences, according to the National Development Council (NDC).

In addition, the number of people paying utility fees with a digital wallet also increased last year, with gas stations seeing a quadruple rise year on year. A total of 120 mobile payment applications met the information security requirements stipulated by the Ministry of Economic Affairs in 2019, and the Financial Supervisory Commission has moved to regulate mobile payment businesses to ensure cash flow safety.