How Taiwan Made Cashless Payments Cute

At a 7-Eleven convenience store in Taiwan, you can pick up a 4-inch plushie of Miffy , the bunny character from the Netherlands, a mini bento box charm complete with a realistic chicken drumstick, or a tiny plastic rotary phone . Produced by iCash Corporation (a 7-Eleven affiliate), these keychains are more than just trinkets: Each contains a contactless chip that connects it to Taiwan’s elaborate stored-value payment system.

iCash cards, along with those made by competitors like EasyCard and iPASS, can be used to ride the subway and buses, as well as to make purchases at convenience stores and other retailers in Taiwan. The over-the-top branded keychains, which cost anywhere from $10 to over $30, generate modest direct sales. But their real value lies in their marketing power, dra