PROSPECTS AND OPPORTUNITIES
Further education, and tailoring offers to consumer preferences needed for debit card transactions to grow more quickly
The recent revelation that Visa’s global debit card issuance has reached a staggering 8.5 billion, surpassing credit cards in transaction volumes, underscores a notable paradigm shift towards the utilisation of debit cards worldwide.
Reimagining offers for niche target segments to ensure growth
Debit cards are expected to continuously evolve beyond conventional functionalities to cater to niche target segments, which presents as lucrative white space for growth and innovation. Amongst these innovations, Cathay United Bank has unveiled the CUBE Signature Financial Card, a pioneering product designed with a strong emphasis on accessibility for visually impaired individuals.
Digital banks to be important growth drivers with enhanced services
Digital banks, including LINE Bank, Lotte International Bank, and NEXT Bank, will be growth drivers in the forecast period, as they are expected to see profitability in the short term, marking a pivotal shift in the market landscape. Digital banks are diligently honing their competencies to align closely with the evolving behaviours and preferences of Taiwanese consumers.
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Overview:
Understand the latest market trends and future growth opportunities for the Debit Card Transactions industry in Taiwan with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Debit Card Transactions industry in Taiwan, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Debit Card Transactions in Taiwan report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Debit Card Transactions in Taiwan?
- What are the major trends key to understanding Debit Card Transactions in Taiwan?
- How has COVID-19, recession and macroeconomic volatility impacted the market?
- How long will the market take to recover? What are the opportunities now?
- How will political context and shifting cultural values shape future growth?
- Where is future growth expected to be most dynamic?
Charge Cards in Taiwan - Category analysis
Charge Cards in Taiwan - Company Profile
KEY DATA FINDINGS
American Express sees growing issuance, with efforts on expanding its local presence
Steady growth for charge cards in Taiwan
American Express enhances daily touchpoints to appeal to consumers
Continued growth expected for charge cards in Taiwan
American Express will continue to lead
Seizing the growth potential in Taiwan
Credit Cards in Taiwan - Category analysis
Credit Cards in Taiwan - Company Profile
KEY DATA FINDINGS
Reshuffling of credit card issuance ranking as players align benefits with key activities to attract consumers
Enhanced offers of digital wallets intensify the competition
Usage of Buy Now, Pay Later (BNPL) remains low
Outbound travel booking and spending likely to be a key battlefield in the short term
Intensifying competition expected, as loyalty and personalisation will be key
BNPL is likely to be an area to watch
Debit Cards in Taiwan - Category analysis
Debit Cards in Taiwan - Company Profile
KEY DATA FINDINGS
Debit cards used for day-to-day transactions for financial prudence amongst younger generations
Enhancing the product offer for overseas transactions to tap into travel demand
Rising popularity of digital wallets
Further education, and tailoring offers to consumer preferences needed for debit card transactions to grow more quickly
Reimagining offers for niche target segments to ensure growth
Digital banks to be important growth drivers with enhanced services
Pre-Paid Cards in Taiwan - Category analysis
Pre-Paid Cards in Taiwan - Company Profile
KEY DATA FINDINGS
Pre-paid cards maintains its importance in Taiwan, especially for daily low value transactions
EasyCard remains the leader in pre-paid cards
Closed-loop pre-paid cards continues its decline
Blurring lines between payment methods and continuous development of multi-faceted financial services to appeal as a one-stop-shop
Monthly transportation schemes set to boost usage of open loop pre-paid cards
Continuous decline expected for closed loop pre-paid cards
Store Cards in Taiwan - Category analysis
Store Cards in Taiwan - Company Profile
Financial Cards and Payments in Taiwan - Industry Overview
Financial cards and payments in 2024: The big picture
2024 key trends
Change of age of adulthood impacts the industry
Competitive landscape
What next for financial cards and payments?
DISCLAIMER
The following categories and subcategories are included:
Debit Card Transactions
- Commercial Debit Card Transactions
- Personal Debit Card Transactions
Debit Card Transactions
Debit cards merge the functionality of both an ATM card and direct payment from a bank account (a check substitute in some markets). A debit card allows the cardholder to receive cash and monitor account activity at an ATM machine, as well as pay for goods and services via a point-of-sale terminal. A debit card payment transaction involves the automatic withdrawal of funds from the cardholder’s demand deposit bank account (checking or giro). Since the funds are removed from a bank account, no interest is charged on payments. Payments are tracked based on the country of residence / account issuance and include outbound spend while excluding inbound spend.
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Debit Card Transactions research and analysis database.
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