Taiwan card payments market set to hit $177.7b in 2026

The metro is set to accept contactless payments beginning July.

Taiwan’s card payments market is set to reach $177.7b (TWD5.7t) in 2026, driven by the growing preference for digital payments, near-universal banking access, and payment cards, according to a report by GlobalData.

Total card payment value in Taiwan registered a compound annual growth rate (CAGR) of 12.7% over 2021-2025 to reach $168.3b, the report said.

The rise of digital-only banks, phasing out of magnetic stripe cards, and growth of contactless payments are expected to drive this growth.

The expansion of contactless payment technology is further accelerating card adoption. The Taiwan Metro system will begin accepting credit cards and mobile wallets beginning 1 July 2026.

Growing point-of-sale (POS) terminalisation is also accelerating card payment growth by expanding acceptance particularly for small and medium enterprises (SMEs).

“Taiwan’s payment card market is poised for sustained growth over the next five years, supported by rising consumer awareness and usage of payment cards, continued shift of transit and other low-value everyday payments to card-enabled acceptance, and government measures to digitize payments among SMEs,” said Shivani Gupta, lead banking and payments analyst at GlobalData.