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Companies tap mobile payment market in Taiwan

Companies tap mobile payment market in Taiwan

Taipei, July 26 (CNA) As the number of smartphone and tablet computer users in Taiwan continues to rise, e-commerce service providers and online gaming and instant messaging companies are introducing new services to tap into the country's mobile payment market.
One such company, Pi Mobile Technology Inc. which is a mobile payment arm of Web portal PChome Online Inc., on July 1 launched a "shopping wall" system that allows customers to make purchases by scanning the QR codes of products advertised on billboards and posters.
PChome Chairman Jan Hung-tze said the "shopping wall" system makes it easier for merchants to sell their products. It takes a lot of money to maintain a store, while all that is needed for the shopping wall is a billboard, he said.
Group-purchasing website Gomaji, meanwhile, launched a mobile payment app last year that allows users to pay their bills with their mobile devices at partnering restaurants. Gomaji plans to expand its number of partner restaurants from the current 1,500 to about 8,000 by the end of the year.
Taiwanese game developer Gamania Digital Entertainment Co.'s mobile payment arm said in June that it is also planning to expand its services from gaming to all aspects of daily life.
Meanwhile, instant messaging app LINE will launch a taxi service in Taiwan this summer, allowing users to pay taxi fares with the mobile "LINE Pay" money transfer and payment service.
Over 16 million people over the age of 11 in Taiwan own a smartphone or tablet computer, and the number has surged by 17 million over the past six months, according to the latest data released by the Innovative Digitech-Enabled Applications and Services Institute of the Institute for Information Industry.
Private consumption in Taiwan totaled NT$8.6 trillion (US$272.95 billion) last year, according to the Directorate-General of Budget, Accounting and Statistics.
Cash transaction business in Taiwan is estimated at around NT$5 trillion per year, according to a survey by U.S.-based marketing researcher AC Nielsen, a figure that is seen an indicator of great potential in the mobile payment market. (By Lo Hsiu-wen and Christie Chen)


Updated : 2021-09-23 19:04 GMT+08:00