Reasons for a decrease in cash in wallet in Taiwan 2020
The results of a survey conducted in August 2020 revealed that consumers in Taiwan carried less cash in their wallets mostly because they preferred other forms of payment, such as contactless payments, credit cards, and store-valued cards. For almost half of the respondents, the reason was that they could easily withdraw cash. Meanwhile, six percent of the respondents said they carried less cash, resulting from increased prepaid card usage.