NFC TIMES Exclusive Insight – While Visa’s country office in Taiwan was touting the fact that Taiwan ranks as one of the top countries in Asia Pacific for acceptance and use of contactless payments only six months ago, that hasn’t stopped the big payments network from actively promoting QR code payments on the island nation, too.
Visa is seeking to capture transactions from the tens of thousands of small merchants in Taiwan that refuse to accept cards, either because of the cost of terminals and transaction fees or–more often–because they want to dodge taxes on their receipts by accepting only cash.
Whatever the reasons they are avoiding accepting credit cards, Visa is actively pushing QR codes in Taiwan, which is significant given that the other countries in which the network is rolling out QR code technology for payments with its affiliated banks are in much less developed economies in Africa and Southeast Asia.
