Standing firm as the 19th largest economy in the world with a developed capitalist economy, Taiwan has proven itself to be a major player in the market. However, not all is fine in Taiwan as they are at a figurative crossroads, having to choose between retaining labor-intensive industries from relocating to cheaper areas such as mainland China and focusing on future development in the high technology and service industry.
For the game developer, this could be reassuring news because if Taiwan decides to take the future development in high technology route, many new opportunities may be possible within the gaming industry.
Taiwan’s gamer-base is made up of mainly MMORPG gamers and competitive players. What may be a AAA title in other parts of the world such as the US and Europe may not be as popular in Taiwan simply because of a different culture and gamer-base.
Because of this, games with a high level of competition and personal skill are pursued such as League of Legends (LoL). Professional teams in such games are becoming the next big thing and e-sports doesn’t look like it’s slowing down anytime soon with the successes of Taiwan’s own teams: Gamania Bears, yoe IRONMEN, Taipei Assassins, and Taipei Snipers.
As you can see here, some major corporations such as YOE Prepaid Card have made their presence known by sponsoring gamer teams to go out on the big stage and represent them. Speaking of YOE Prepaid Cards, we will be looking into the different type of payment methods Xsolla has to offer which are popular in Taiwan for gamers to utilize.
Mobile payments are a popular option in Taiwan but to an extent because of the fact that in order to be able to use this type of payment method, you need to add your passport number among other facets of information. Because the user has to input so much data including their passport number, it is inconvenient and restrictive which makes most users look for other more convenient ways of payment. Premium SMS mobile payments are covered in Taiwan boasting a rough total of 15% of the overall market share in user transactions.
Another source of payments in Taiwan include banking. WebATM’s are exclusive to Taiwan and Korea and are a great way to pay but come at a cost which most of us in other geographies of the world are not used to.
For instance, if you would like to make a transaction through WebATM’s in Taiwan, you first get redirected to the bank login page where you must input your login information. Simple enough right? But wait, there’s more. Next, you have to obtain a special card reader machine and plug it into your USB drive. Afterwards, you can swipe your card in this card reader machine and the payment will finally be authorized. No gamer wants to pay in a 3+ step process and this is the main reason this method is popular but to a certain extent.
The major source of payments within Taiwan feature Prepaid Cards boasting a total greater than 50% of the market share in user transactions. Card systems such as Crash+, MyCard, and YOE Card are highly sought after for payment transactions and are offered by Xsolla. J Card is also a popular Prepaid card and steps are being implemented at the moment to integrate it into the Xsolla system. Crash+ and MyCard are considered bitter rivals and refuse to do service with a provider who tries to recruit both options, taking a “exclusively me” approach but Xsolla has a special case with both being able to provide both services simultaneously.
MyCard Points are another option to pay as an e-wallet and are much more strict on their exclusivity implementation.
One Last Thing to Consider
Emerging as a great economic power in the world is just one step to success and Taiwan has already taken the steps necessary to solidify itself as one but also has much to worry about in future development.
As stated in an article by Honnus Cheung, Regional Chief Financial Officer of the Asian Pacific Region, “Taiwan’s future development will have to rely on further transformation to a high technology and service-oriented economy.”
With future technological development comes more opportunity for game developers to showcase their games to an ever-growing community of gamers and Taiwan seems to be a place thriving with potential. The development of the e-sports industry is also quite pleasing as major providers such as YOE are starting to recognize the opportunities and sponsoring professional gamer teams as seen above with the yoe IRONMEN. With Xsolla’s services in Taiwan, you don’t have anything to worry about because of our all-inclusive coverage of the payment industry within Taiwan.