Taiwan wallets overtake cards in online payments by 2030

E-commerce transaction value is forecast to rise from $23b in 2025 to $30b by 2030.

Taiwan’s e-commerce payments market is expected to reach $30b by 2030, up from $23b in 2025, as digital wallets take a larger share of online transactions.

Credit cards currently account for 39% of e-commerce transaction value, making them the most widely used payment method online, according to Worldpay.

Digital wallets follow with a 34% share, whilst cash accounts for 15% and account-to-account (A2A) payments represent 6%.

By 2030, digital wallets are forecast to overtake credit cards, accounting for 40% of e-commerce transaction value.

Credit cards are expected to fall to 35%, whilst cash declines to 11%. A2A payments are projected to rise to 8%.

The e-commerce market is forecast to grow at a compound annual growth rate of 6% between 2025 and 2030.

At physical points of sale, Taiwan’s payments market is expected to increase from $162b in 2025 to $182b in 2030, representing a 2% compound annual growth rate.

Digital wallets already lead point-of-sale payments with a 36% share, ahead of credit cards at 32% and cash at 25%. 

By 2030, wallets are forecast to account for 44% of transaction value, whilst credit cards and cash fall to 26% and 22%, respectively.

A2A payments are also expected to gain ground. They currently account for 2% of point-of-sale transactions and are forecast to reach 4% by 2030. Services such as Taiwan Pay allow consumers to make account-based payments directly to merchants.

Amongst card transactions, Visa accounted for 55% of Taiwan’s card scheme share in 2024, followed by

Mastercard at 34% and JCB at 8%. American Express and other card schemes each accounted for 2%.

Digital wallets in Taiwan can be funded through cards and A2A transfers, whilst buy now, pay later instalment options are also available. LINE Pay, Apple Pay and PayPal are amongst the payment services used by consumers.