24-May-18, HKTDC

Although only legislatively opening up to mobile-payment operators three years ago, Taiwan has now seen the emergence of a number of domestic processing businesses, while also attracting the world's leading players.

Taiwans mobile payments are set to soar (c) Xinhua News Agency

Image: Xinhua News Agency

While mobile payments are now de rigueur in many parts of the world, Taiwan has been a little late to the party, having only really embraced the enabling technology and required legislative framework some three years ago. 

All that changed in 2015, however, when the territory's government moved to liberalise the overall electronic-payment regime. One of the most immediate consequences of this legislative change was the arrival of many of the global mobile-payment giants – including WeChat Pay, Apple Pay, Android Pay, Samsung Pay and Line Pay – all of which were soon going head-to-head with their local counterparts as the battle for market share began.

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