The number of users of mobile payments aged 26 to 35 increased by 14.7 percent in the first half of the year, the highest among all age groups, the Market Intelligence & Consulting Institute (MIC, 產業情報研究所) said in a survey released on Monday.
The government-funded institute said that a poll of 534 effective samples found that 26-to-35-year-olds have the highest rate of domestic use of mobile payments, up to 75.5 percent.
MIC analyst Nephy Hu (胡自立) said that although credit cards remain the most popular means of payment, about 27.2 percent of consumers have expressed willingness to make purchases through mobile payment systems, up 11.2 percentage points from 2017.
The nation’s top five mobile payment systems are Line Pay, JKo Pay (街口支付), Apple Pay, Google Pay and Taiwan Pay.
Although Taiwanese consumers are slowly developing brand loyalty toward various mobile payment systems, more retailers are setting up their own mobile payment services to carve out market share, Hu said.
The penetration rate of such brands grew from 5.1 percent last year to 14.4 percent in the first half of this year, including those launched by EasyCard Corp (悠遊卡), President Chain Store Corp (統一超商), Taiwan FamilyMart Co (全家便利商店) and Pi Mobile Technology Inc (拍付國際).
The biggest advantages that these brands have is predominantly their novelty factor and membership-based reward programs, Hu said.
While many international brands continue to adopt near-field communication technology, QR code payment has a higher utilization rate of 87.5 percent compared with 60.2 percent, the report said.
The advantage of QR codes is that they are more accessible for smaller stores and restaurants.
Softbank Group Corp plans to keep a stake in the chip designer Arm Ltd, even if it sells a partial interest to Nvidia Corp, the Nikkei reported. The companies are negotiating terms, the newspaper reported, citing sources. Softbank might take a stake in Nvidia after it buys Arm, the report said. Nvidia and Arm might also merge through a share swap, and Softbank would become a major shareholder in the combined company, it said. The two parties aim to reach a deal in the next few weeks, the sources said, asking not to be identified because the information is private. Nvidia is the
‘ONE-STOCK SHOW’: Turnover hit an all-time high as TSMC continued to determine the local market’s direction and surpassed Visa in market capitalization The TAIEX early yesterday hit an all-time intraday high on the back of soaring Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) shares, before tumbling back to the previous day’s close as the contract chipmaker could not single-handedly prop up the index. The TAIEX rose more than 400 points in the first 20 minutes of trading to hit a record 13,031.7 points, but later pared its gains to close down 0.01 percent at 12,586.73. Turnover was NT$343.252 billion (US$11.63 billion), the highest in the Taiwan Stock Exchange’s history. TSMC continued to dictate the market’s direction, as its early surge by the daily
Gold surged to a fresh record on Friday, fueled by US dollar weakness and low interest rates, while silver headed for its best month since 1979. Spot bullion is up more than 10 percent this month, as US real yields lingered near record lows. While the ferocity of rallies in gold and silver cooled in the middle of the week, most market watchers predict there might be more gains ahead. Both metals have added about 30 percent this year, with gold and silver exchange-traded funds boosting holdings to a record, as concern about the fallout from the COVID-19 pandemic fuels demand for
MOVING FROM CHINA? The article did not name the company, but Foxconn, Wistron and Pegatron were among firms chosen for a production-linked incentive plan in India An Apple Inc vendor is looking at shifting six production lines to India from China, which could result in US$5 billion of iPhone exports from the South Asian nation, the Times of India reported, citing people familiar with the matter who it did not identify. The establishment of the facility would create about 55,000 jobs over about a year, the newspaper reported, not naming the Apple vendor. It would also cater to the domestic market and expand operations to include tablets and laptops, the newspaper reported. Samsung Electronics Co and Apple’s assembly partners are among 22 companies that have pledged 110 billion