Taipei--Mobile payment services in Taiwan are used mainly for paying restaurant bills and for transportation services, according to a recent survey released by the Market Intelligence and Consulting Institute under the Institute for Information Industry.
The survey of users of the mobile payment system shows that 76.4 percent of mobile payments are used for restaurant bills, with 33.2 percent for transportation and 19.3 percent for purchases of clothing, footwear, bags and accessories.
According to Hu Tzu-li (???), a senior industry analyst with the institute, the results could be because some retail businesses have not yet established a support system to make mobile payment solutions available at their outlets. Mobile payment platforms were first designed for restaurants.
Physical retail stores and credit card-issuing banks are the two most important channels for the mobile payment industry to promote its services, the survey found.
It shows that 53.7 percent of consumers know they can use mobile payment services for purchases made in bricks-and-mortar stores, while 50.6 percent find out about this option from card-issuing banks, while 27 percent learn from the mobile payment industry and 23.6 percent from social network sites, the survey reveals.
The survey also found that mobile payment services are not used often and are most commonly used for lower-value payments, with 66.7 percent of consumers using them less than four times per year and 86.9 percent using the services for payments of less than NT$1,000 (US$32.69).
This could be attributable to an industry policy launched last year to promote low-value payments, Hu said, adding that there is still ample room for the industry to familiarize consumers with the services.
Source: Focus Taiwan News Channel