National Development Council Minister Chen Mei-ling says that the total value of mobile payments made in Taiwan could top NT$100 billion by the end of the year. That came during a speech Chen made at the opening of a mobile payment expo held by the economics ministry.
Chen said that mobile devices have become an integral part of life in Taiwan. She says that mobile devices are used by Taiwanese people of all ages and from all walks of life.
She said that the government originally aimed to raise Taiwan’s mobile payment penetration rate to 90% by 2025. However, she believes that with the help of private enterprises, Taiwan will meet that goal much earlier than planned.
Chen says that in all of 2016, the value of Taiwan’s mobile payment transactions only reached NT$10 billion. However, in the first half of 2019, that figure had hit NT$443 billion. She says that she hopes the number will continue to rise, breaking NT$100 billion by the end of the year.