Taiwan digital wallets projected to overtake credit cards by 2030

Taiwan’s e-commerce payment market is projected to grow from $23 billion in 2025 to $30 billion by 2030, driven by a shift toward digital wallets. According to Worldpay, digital wallets are forecast to overtake credit cards in online transactions by 2030, capturing a 40% share compared to 35% for credit cards. Currently, credit cards lead online payments at 39%, followed by digital wallets at 34%, cash at 15%, and account-to-account (A2A) payments at 6%.

The physical point-of-sale market is also expected to expand, rising from $162 billion in 2025 to $182 billion by 2030. Digital wallets already lead in-person payments with a 36% share, ahead of credit cards at 32% and cash at 25%. By 2030, digital wallets are expected to reach a 44% share of physical transactions.

In the card scheme sector, Visa held a 55% share of Taiwan’s card transactions in 2024, followed by Mastercard at 34% and JCB at 8%. Popular digital wallet services in the region include LINE Pay, Apple Pay, and PayPal.