Taiwan's Top 10 Electronic Payment Rankings! Easycard chases after JKOP, who has the most users and transaction volume.

Taiwan's electronic payment has entered the Warring States period. Who is the current king of the 'beep economy' users?

According to the latest data released by the Financial Supervisory Commission, as of the end of September 2024, the total number of e-payment account users in Taiwan has reached 29.8 million, with an average of 1.28 e-payment accounts per person in Taiwan.

Among them, Jkopay has 6.571 million users, making it the most widely used electronic payment brand. As for the second and third places, they are closely followed by the 6.552 million users of EasyCard, and the electronic payment brand, iPass, created by FamilyMart, has 5.088 million users, ranking third.

According to the statistics of the Financial Supervisory Commission, as of the end of September this year, in addition to 10 specialized electronic payment institutions in the country, there are also 20 banks, post offices, and other institutions operating electronic payment services.

Ranking of electronic payment users: Jkopay, iPASS, and AllPay occupy the top three.

In the user ranking, JKOPay, with 6.571 million users, won the popularity championship; iPass ranked second with nearly 6.552 million users, narrowing the gap with JKOPay to 19,000 users. As for the third place, Easycard has 5.088 million users, with a gap of nearly 1.5 million users from the second place iPass.

Image source: Digital Times

The fourth place is held by EasyCard, with a total of 3.196 million users. The fifth place is taken by E.SUN Bank, with 2.523 million users, making it the only bank to squeeze into the top 5 e-payment account user rankings.

Ranking of digital payment transaction amounts: Jkop, All Pay, iPass

As for the total amount of actual transaction funds received and paid by all electronic payment institutions, it reached NT$18.24 billion in September; the amount of domestic and foreign small remittances processed in September reached NT$16.11 billion; the amount of stored value received in September reached NT$28.41 billion; the balance of payments in September was NT$16.96 billion.

Looking further at the transaction amounts of electronic payment institutions, JieKou topped the list with a transaction amount of 46.2 billion yuan. Second place was taken by QuanFu, which ranked first last month, with a transaction amount of 43.9 billion yuan. Third place went to YiKaTong, with a transaction amount of 34.1 billion yuan.

It is worth noting that why is LINE Pay, which is popular among Taiwanese, not on the list? In fact, LINE Pay is still in the status of being a "third-party payment institution" managed by the Department of Digital Payments, and has not yet been upgraded to "electronic payment".

According to regulations, if the average daily amount of third-party payment agency's receipt and payment transactions exceeds 2 billion yuan, it is necessary to "upgrade" to apply for an electronic payment license from the FSC and be supervised by the FSC.

According to the Financial Supervisory Commission, in 2023, there were 7 third-party payment service providers with daily average balances of over 1 billion yuan, including Line Pay (Lianjia Network), Pi Pay (PI Wallet), Pay2Go, ECPay, Foodpanda, UberEats Taiwan, and 91APP, which will potentially be eligible to apply for electronic payment licenses in the future.

【Disclaimer】There are risks in the market, and investment needs to be cautious. This article does not constitute investment advice. Users should consider whether any opinions, viewpoints, or conclusions in this article are suitable for their specific situation. Investing based on this is at your own risk.

This article is authorized to be reprinted from: "Digital Times"

Original Title: "Who is the King of Electronic Payments in Taiwan? EasyCard Chases JKOP! Top 10 in User and Transaction Amounts Illustrated"

Original author: Li Xiantai

The TOP 10 rankings of electronic payments in Taiwan! EasyCard is chasing Jkop, who is the strongest in terms of users and transaction volume. This article was first published in '01928374656574839201 City'