Top payment methods in Taiwan: A guide on best ways to pay
Wondering what the most popular ways to pay are in Taiwan? Explore the top payment options and choose wisely.
Taiwan, with a population of around 23.38 million people, has a GDP of approximately 804.89 billion making it the 22nd largest economy in the world. The official currency of Taiwan is the New Taiwan Dollar (TWD)
The economy is a global leader in technology, driven by the manufacturing of semiconductors and electronic components. It is a member of APEC and the WTO, with China, the United States, and Japan being its most crucial economic partners.
| Country | Taiwan |
|---|---|
| Population | 23.38 million |
| GDP (USD) | 804.89 billion |
| Global Ranking | 22nd |
| Currency | New Taiwan Dollar (TWD) |
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What is the main payment method in Taiwan?
The most popular digital payment method in Taiwan is the credit card, which is widely used for both online and offline retail. E-wallets like LINE Pay and JKOPAY are also extremely popular for in-store QR code payments, P2P transfers, and bill payments. Despite high digital adoption, physical cash, the New Taiwan Dollar, remains very common for daily transactions, especially at night markets and smaller eateries.
How to pay in Taiwan
Each country has its own way of moving money, and choosing the right method can sometimes be difficult. That’s why we have curated the most popular and best payment options for you to use in Taiwan.
| Payment Method | Description | Type |
|---|---|---|
| Wise | Wise provides international money transfer services. It is known for offering transparent, low-cost currency exchange rates and fast transfers. Wise uses the mid-market exchange rate and charges a small, upfront fee, making it a cost-effective alternative to traditional banks for sending money abroad. The platform also offers multi-currency accounts, allowing users to hold and manage money in multiple currencies. | Online/In-person |
| Cards (Credit/Debit) | Credit and debit cards are a leading and very popular payment method for retail and online purchases. | Online/In-person |
| Digital Wallets (JKO Pay, LINE Pay) | Local digital wallets are extremely popular. JKO Pay and LINE Pay are dominant, used for P2P transfers, bills, and QR code payments in a vast number of stores. | Online/In-person |
| Cash (New Taiwan Dollar) | Cash is a very common payment method and is used frequently for daily expenses, especially at smaller businesses and night markets. | In-person |
| Bank Transfers | Real-time bank transfers are a popular option for e-commerce checkouts and for paying bills directly from a bank account. | Online |
Is PayPal available in Taiwan?
Yes, PayPal is accepted in Taiwan.
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Whatever you need to buy during your trip, whether it’s a travel adapter, train ticket or an extra bottle of sunscreen, the Wise Multi-Currency Card has you covered.
You can spend like a local in 150+ countries, as this clever contactless card automatically converts currency at the mid-market exchange rate whenever you spend - for just a small conversion fee.
And for extra convenience, you can add your Wise Multi-Currency Card to your Google Wallet or Apple Wallet. Then you can travel even lighter and pay using just your phone, with no need to pack the physical card.
Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.