Line Pay has become the most used mobile payment system in Taiwan, the Market Intelligence & Consulting Institute (MIC, 產業情報研究所) said on Wednesday.
The institute cited a survey, which found that 25.2 percent of respondents who used mobile payment systems favored Line Pay over Apple Pay, which was used by 17.9 percent of those surveyed.
The survey said JKo Pay (街口支付) came in third, taking a 10.9 percent share, followed by Android Pay with 9.9 percent and E.Sun Wallet (玉山 Wallet) with 5.2 percent.
Based on the survey, the top three systems made up a more than 50 percent share in the local mobile payment market, the institute said.
MIC analyst Nephy Hu (胡自立) said Taiwan has more than 20 mobile payment services, but only a few have proven to be popular.
Competition between local digital wallet services is escalating, Hu said, adding that the next couple of years could be critical for these operators to win a bigger share of the market or risk becoming marginalized.
According to the survey, the respondents said they mostly used mobile payments at convenience stores (62.3 percent), ahead of hypermarkets (37.7 percent), supermarkets (32.3 percent), department stores and shopping malls (30.2 percent), and restaurants (29.7 percent).
Hu said the nation’s four largest convenience store chains were quick to set up systems to support mobile payments and that is why consumers favored them.
The survey showed mobile payments were used for only 1.2 percent of purchases of more than NT$3,000 in 2016, but the figure rose to 15 percent last year.
The institute said consumers aged between 18 and 25 were the most willing of all Taiwanese to use mobile payments.
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