TAIPEI (TVBS News) — Mobile payments have overtaken cash as Taiwan's preferred method for small transactions, marking a historic shift in consumer behavior revealed Tuesday (Sept. 2) by the Market Intelligence & Consulting Institute (MIC, 資策會產業情報研究所), a leading technology research organization. The institute's comprehensive 2025 consumer survey showed that over 92% of Taiwanese residents have embraced mobile payment services. Mobile payments captured 46% of transactions under NT$50 (around US$1.63), decisively surpassing cash usage at 42% for the first time.
The institute documented dramatic behavioral changes, with 69% of consumers increasing their mobile payment frequency while 51% simultaneously reduced cash transactions. Consumer spending patterns revealed a pronounced concentration on smaller purchases, with 91% of mobile payment activity focused on amounts under NT$1,000 (around US$32.68). The most substantial growth occurred in micro-transactions under NT$200 (around US$6.54), reflecting Taiwan's shift toward cashless convenience for everyday purchases.
Survey data revealed that frequent mobile payment users reached 84%, establishing a commanding 13% advantage over physical card users in 2024, nearly doubling from the 7% gap recorded in 2023. Mobile payments stood as the sole payment method experiencing growth, surging by 5% while traditional alternatives faltered. Physical cards, cash, stored-value cards, and buy-now-pay-later services all registered slight declines, underscoring mobile payments' dominance in Taiwan's evolving financial landscape.
Cross-border payment adoption surged from 12% in 2023 to 19% in 2024, propelled by rebounding international travel and aggressive expansion initiatives by Taiwan's domestic electronic payment providers. Japan emerged as the dominant destination, capturing nearly 60% of cross-border payment usage among Taiwanese consumers. The data underscored Japan and South Korea's enduring status as preferred travel destinations for Taiwanese tourists, reflecting both geographical proximity and strong cultural ties.