The percentage of Taiwanese willing to use tap-on-phone payments is the second-highest in the Asia-Pacific region, behind only Malaysia, a report by Visa Inc showed on Thursday.
While 62 percent of Taiwanese are willing to use tap-on-phone payments to save time and not have to worry about carrying cash, that compares with 64 percent of Malaysians, the report showed.
The survey found that 71 percent of Taiwanese would like to use the payment technology at convenience stores, 63 percent would prefer to use it on public transport, such as buses and taxis, and 53 percent would like to use it at food courts, street stalls and kiosks.
Taiwanese consumers do not like to be slowed by cumbersome payment methods at convenience stores, restaurants and small retail stores, so for those businesses, speed and convenience in serving their customers should be a priority, Visa Taiwan Co (台灣威士卡) general manager Michelle Jao (趙麗芳) said in a statement.
Those businesses should consider adopting a tap-on-phone solution, which enables the seller to accept Visa contactless payments directly on their Android NFC-enabled smartphone without the need to install a separate payment terminal, Jao said.
The survey showed that 63 percent of Taiwanese would like to try the payment solution to see if it saves time, while 60 percent expected it to eliminate their need to carry cash.
However, handing over access to their personal information (61 percent) or financial information (54 percent) were named by respondents as their top concerns about using tap-to-phone payments, the report said.
Visa’s tap-on-phone payment solution adopts multiple layers of security for the buyer and the seller, ensuring that Visa’s high standards for secure payments are met, the company said.
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