Mobile payment platforms vie for the 90 billion electronic wallet business opportunity!

Mobile payment platforms vie for the 90 billion electronic wallet business opportunity!

Mobile phones combined with credit cards and EasyCards have become electronic wallets, and their usage rate is now rising higher and higher. There is a mobile payment platform that combines five major telecom operators, credit card companies and other businesses. The public only needs to replace their SIM card with a dedicated one, download the APP, and set up a personal account. After that, they will not need to carry a wallet when going out and can use this dedicated electronic wallet. In the future, it will not only be usable for taking transport and eating, but can also serve as a points collection and access card. The operator estimates the market size will be nearly 90 billion.

To capture the nearly 90 billion electronic wallet business opportunity each year, two domestic mobile payment platforms have been rolling out moves one after another! Rushing to launch before the end of the year, paired with the five major telecom operators, mobile phone SIM cards will have payment functions in the future. As long as the phone has NFC sensing, a light tap will complete checkout! In fact, in the electronic wallet market, major manufacturers are rushing in. Examples include Apple's APPLE PAY, and Hon Hai's Asia Pacific Telecom has also launched a mobile payment APP, which likewise has the concept of a mobile wallet.

"How convenient is it to combine a mobile phone with a credit card? Now when you make a purchase at a vending machine, you only need to follow the instructions on the screen and then choose to pay by mobile phone to make the purchase."

In 2014, the market size of domestic mobile payments was estimated at 62.7 billion, and in 2015 it will approach 90 billion, with an annual growth rate as high as 42%. The market potential is large, but in fact Taiwan's electronic payment applications appear backward compared with other countries in Asia. Singapore, South Korea, and the mainland all have usage rates in daily life exceeding 50%, Hong Kong, China is as high as 64.5%, while Taiwan's usage rate is only 25%.