LINE Pay Money leads Taiwan's proxy payment market for third straight month

Taiwan's electronic payment landscape is fiercely competitive, with LINE Pay Money emerging as the dominant force in the "proxy payment" sector for three consecutive months. As of April, the platform processed a substantial NT$8.726 billion in transactions, significantly outpacing its rivals.

This surge places LINE Pay Money at the forefront of a market that saw a 6.39% month-on-month increase in proxy payment transaction value, reaching NT$28.99 billion in April. Year-on-year, the market experienced a remarkable 42.53% growth, indicating a strong upward trend in digital payments across the island.

While LINE Pay Money leads in transaction volume, Jiekou Electronic Payment remains the most popular choice for users, boasting 7.25 million members. iPASS follows closely with 7.23 million users, and ALLPay secures the third position with 7.17 million users. LINE Pay Money ranks fifth in user numbers with 3.9 million members.

Overall, Taiwan's electronic payment market continues its robust expansion. As of the end of April, the total number of electronic payment account users surpassed 40 million for the first time, marking a 25.36% annual increase. This growth highlights the increasing adoption and reliance on digital payment solutions by the Taiwanese public.

“

The market is fiercely competitive!