Indonesia Cards and Payments: Opportunities and Risks to 2029
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GlobalData’s ‘Indonesia Cards and Payments: Opportunities and Risks to 2029' report provides detailed analysis of market trends in the Indonesia cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cards, cash, credit transfer, direct debits, and cheques during the review-period (2021–25e).
The report also analyzes various payment card markets operating in the industry and provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2025e–29f). It also offers information on the country's competitive landscape, including market shares of issuers and schemes.
The report brings together GlobalData’s research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers detailed regulatory policies and recent changes in regulatory structure.
GlobalData’s ‘Indonesia Cards and Payments: Opportunities and Risks to 2029' report provides top-level market analysis, information and insights into Indonesia cards and payments industry, including –
• Current and forecast values for each market in Indonesia cards and payments industry, including debit, credit and charge cards.
• Detailed insights into payment instruments including cards, cash, credit transfer, direct debits, and cheques. It also, includes an overview of the country's key alternative payment instruments.
• Ecommerce market analysis.
• Analysis of various market drivers and regulations governing Indonesia cards and payments industry.
• Detailed analysis of strategies adopted by banks and other institutions to market debit, credit and charge cards.
• Comprehensive analysis of consumer attitudes and buying preferences for cards.
• The competitive landscape of the Indonesia cards and payments industry.
Scope
Card market size in terms of number of cards, value and volume of transactions in Indonesia along with detailed card segmentation of debit, credit and charge cards available in the country.
Market sizing and analysis of major payment instruments including cards, cash, credit transfer, direct debits, and cheques.
Payment market trends and growth for both historical and forecast period
Competitor analysis with detailed insights into leading card issuers and schemes.
Comprehensive analysis of consumer attitudes and buying preferences for cards.
A detailed snapshot of country's key alternative payment brands.
Key Highlights
In December 2021, Bank Indonesia (BI) launched the BI-FAST instant payment system, enabling real-time fund transfers between bank accounts of participating banks. In December 2024, BI introduced three new services to its instant payment system BI-FAST, which includes bulk transfers, request-to-pay services and direct debits. The bulk transfer feature allows businesses to execute payments to multiple recipients immediately, facilitating large-scale payments, such as salary distributions and payments to vendors. The second service – request for payment – enables recipients to issue payment requests directly to payers, such as invoice settlements and personal bill collections. Lastly, the direct debit feature offers automation for recurring payments.
Digital wallet adoption in Indonesia is gaining traction, especially QR code payments. To capitalize, BI has launched NFC-based payment solution QRIS Tap, in March 2025. This solution allows consumers to complete transactions simply by tapping their smartphones or cards on a payment terminal, without needing to scan QR codes. In its early phase, the service has been rolled out in various sectors including transportation, parking, healthcare, retail, and small- and medium-sized enterprises (SMEs). As of November 2024, the user base for this payment system had reached 55.02 million. By 2025, BI aims to expand the QRIS user base to 58 million and to have 40 million merchants accepting QRIS payments.
BNPL services are on the rise; driven by a sizable population of tech-savvy millennials and Gen Z users who are more inclined to adopt new payment methods. In response to this trend, Indonesia’s largest digital ecosystem, GoTo Group has partnered with the social media platform TikTok to offer the BNPL product GoPay Later on TikTok’s ShopTokopedia in July 2024. The BNPL tool includes credit limit up to IDR10 million ($630.65) and flexible payment periods of one, three, six, and 12 months, with no minimum transaction requirements.
Reasons to Buy
Make strategic business decisions, using top-level historic and forecast market data, related to Indonesia cards and payments industry and each market within it.
Understand the key market trends and growth opportunities in Indonesia cards and payments industry.
Assess the competitive dynamics in Indonesia cards and payments industry.
Gain insights into marketing strategies used for various card types in Indonesia.
Gain insights into key regulations governing the Indonesia cards and payments industry.
BNI
Bank Mandiri
BCA
Maybank
CIMB
Bank Danamon Indonesia
United Overseas Bank
Bank Mega
GPN
Mastercard
JCB
Visa
American Express.
Table of Contents
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Sample Report
Indonesia Cards and Payments: Opportunities and Risks to 2029 was curated by the best experts in the industry and we are confident about its unique quality. However, we want you to make the most beneficial decision for your business, so we offer free sample pages to help you:
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