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Premier anticipates 90 percent mobile payment usage by 2025

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Premier Lai Ching-te said today that Taiwan has an excellent foundation for promoting mobile payments, and expressed hope that under the combined efforts of the government, private sector and industry, the mobile payment industry would take off and develop rapidly to achieve the government's policy target of 90 percent penetration by 2025.

Speaking at a marketing expo featuring "mobile payment shopping day" and the inaugural meeting of a new mobile payment service alliance, the premier explained that "mobile payment" refers to using a mobile phone to transfer money for all payments and purchases. The very widespread use of mobile phones in Taiwan serves as the perfect springboard for expanding mobile payments, and more and more businesses throughout Taiwan are accepting mobile payments for purchases.

The Executive Yuan is in the midst of promoting the Digital Nation and Innovative Economic Development Plan, also known as the DIGI+ plan, partly in order to expand the use of mobile payments. Legislative revisions and deregulation are also aimed at building friendly environment for mobile payments, in conjunction with the support and growth of the information and communications technology and information security industries.

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