Indonesia Cards and Payments – Opportunities and Risks to 2026

Pages: 93 Published: May 22, 2023 Report Code: GDFS0697CI

Indonesia Cards and Payments Market Report Overview

The Indonesia cards and payments market size was valued at $51.4 billion in 2022 and is expected to achieve a CAGR of more than 14% during 2022-2026. Cash has traditionally been the preferred payment instrument in Indonesia accounting for more than 76% of total payment transaction volume in 2022e.

Indonesia Cards and Payments Market Outlook, 2022-2026 ($ Billion)

Indonesia Cards and Payments Market Outlook, 2022-2026 ($ Billion)

To gain more information on the Indonesia cards and payments market forecast, download a free report sample

The Indonesia cards and payments market research 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 cash, mobile wallets, cards, credit transfers, direct debits, and cheques during the review-period.

Market Size (2022) $51.4 billion
CAGR >14%
Forecast Period 2022-2026
Historical Period 2018-2021
Key Payment Instruments Cash, Cards, Credit Transfers, Mobile Wallets, Direct Debits, and Cheques
Key Segments Card-Based Payments, Merchant Acquiring, Ecommerce Payments, In-Store Payments, Buy Now Pay Later, Mobile Payments, P2p Payments, Bill Payments, and Alternative Payments.
Leading Players BRI, BNI, Bank Mandiri, BCA, Maybank, CIMB, Bank Danamon Indonesia, United Overseas Bank, Bank Mega, GPN, Mastercard, JCB, Visa, and American Express.

Indonesia Cards and Payments Market Dynamics

The government has introduced initiatives designed to boost the ecommerce market. In December 2022, the Ministry of Trade organized a National Online Shopping Day (Harbolnas) to encourage the use of ecommerce and boost domestic goods trade.

To increase the acceptance of electronic payments among merchants, in August 2019 the central bank launched QRIS. QRIS is a common standard for QR code payments that is designed to work across all electronic money apps, electronic wallets, and mobile banking services.

Indonesia Cards and Payments Market Segmentation by Payment Instruments

The key payment instruments in the Indonesia cards and payments market are cards, mobile wallets, credit transfers, cheques, cash, and direct debits. In 2022, cash is the dominant payment instrument in terms of transaction volume. Indonesia is a cash-based economy, mainly due to consumers’ traditional preference for cash and the country’s high unbanked population.

Indonesia Cards and Payments Market Analysis by Payment Instruments, 2022 (%)

Indonesia Cards and Payments Market Analysis by Payment Instruments, 2022 (%)

For more payment instrument insights into the Indonesia cards and payments market, download a free report sample

Indonesia Cards and Payments Market Segments

The key segments in the Indonesia cards and payments market are card-based payments, merchant acquiring, ecommerce payments, in-store payments, buy now pay later, mobile payments, p2p payments, bill payments, and alternative payments.

Cash payments are set to decline in Indonesia, in line with the rising consumer preference for electronic payments. Card payments are gaining prominence in Indonesia, with the average individual holding more than four cards. The growth of card based payments has been supported by the increase in banking penetration in 2022.

Indonesia Cards and Payments Market - Competitive Landscape

Some of the leading players in the Indonesia cards and payments market are BRI, BNI, Bank Mandiri, BCA, Maybank, CIMB, Bank Danamon Indonesia, United Overseas Bank, Bank Mega, GPN, Mastercard, JCB, Visa, and American Express.

Segments Covered in the Report

Indonesia Cards and Payments Instruments Outlook (Value, $ Billion, 2018-2026)

  • Cards
  • Credit Transfers
  • Cheques
  • Cash
  • Direct Debits

Indonesia Cards and Payments Market Segments Outlook (Value, $ Billion, 2018-2026)

  • Card-Based Payments
  • Merchant Acquiring
  • Ecommerce Payments
  • In-Store Payments
  • Buy Now Pay Later
  • Mobile Payments
  • P2P Payments
  • Bill Payments
  • Alternative Payments

Scope

 The report provides top-level market analysis, information and insights into the Indonesiaian cards and payments industry, including –

  • Current and forecast values for each market in the Indonesiaian cards and payments industry, including debit, credit, and charge cards
  • Detailed insights into payment instruments including cash, cards, credit transfers, 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 the Indonesiaian 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 Indonesiaian cards and payments industry.

Reasons to Buy

  • Make strategic business decisions, using top-level historic and forecast market data, related to the Indonesiaian cards and payments industry and each market within it.
  • Understand the key market trends and growth opportunities in the Indonesiaian cards and payments industry.
  • Assess the competitive dynamics in the Indonesiaian cards and payments industry.
  • Gain insights into marketing strategies used for various card types in Indonesia.
  • Gain insights into key regulations governing the Indonesiaian cards and payments industry.

Key Players

BRI
BNI
Bank Mandiri
BCA
Maybank
CIMB
Bank Danamon Indonesia
United Overseas Bank
Bank Mega
GPN
Mastercard
JCB
Visa
American Express.

Table of Contents

  • 1. Market Overview
  • 2. Payment Instruments
  • 3. Card-Based Payments
  • 4. Merchant Acquiring
  • 5. Ecommerce Payments
  • 6. In-Store Payments
  • 7. Buy Now Pay Later
  • 8. Mobile Payments
  • 9. P2P Payments
  • 10. Bill Payments
  • 11. Alternative Payments
  • 12. Payment Innovations
  • 13. Job Analysis
  • 14. Payment Infrastructure and Regulation
  • 15. Appendix

Frequently Asked Questions

The cards and payments market size in Indonesia was valued at $51.4 billion in 2022.

The cards and payments market in Indonesia is expected to achieve a CAGR of more than 14% during 2022-2026.

Cash is the leading payment instrument in terms of volume transactions in the Indonesia cards and payments market in 2022.

Some of the leading players in the Indonesia cards and payments market are BRI, BNI, Bank Mandiri, BCA, Maybank, CIMB, Bank Danamon Indonesia, United Overseas Bank, Bank Mega, GPN, Mastercard, JCB, Visa, and American Express.

$2,750

Can be used by individual purchaser only

$8,250

Can be shared globally by unlimited users within the purchasing corporation e.g. all employees of a single company

Get in touch to find out about our multi-purchase discounts

reportstore@globaldata.com
Tel +44 (0) 20 7947 2960

Every customer’s requirement is unique. We understand that and can customize the report basis your exact research requirements pertaining to market insights, innovation insights, strategy and planning, and competitive intelligence. You can also avail the option of purchasing stand-alone sections of the report or request for a country specific report.

Still undecided about purchasing this report?

Enquire Before Buying

Request a Free Sample

Testimonial

“The GlobalData platform is our go-to tool for intelligence services. GlobalData provides an easy way to access comprehensive intelligence data around multiple sectors, which essentially makes it a one-for-all intelligence platform, for tendering and approaching customers.

GlobalData is very customer orientated, with a high degree of personalised services, which benefits everyday use. The highly detailed project intelligence and forecast reports can be utilised across multiple departments and workflow scopes, from operational to strategic level, and often support strategic decisions. GlobalData Analytics and visualisation solutions has contributed positively when preparing management presentations and strategic papers.”

Business Intelligence & Marketing Manager, SAL Heavy Lift

“COVID-19 has caused significant interference to our business and the COVID-19 intelligence from GlobalData has helped us reach better decisions around strategy. These two highlights have helped enormously to understand the projections into the future concerning our business units, we also utilise the project database to source new projects for Liebherr-Werk to use as an additional source to pitch for new business.”

Market Analyst & Management, Liebherr-Werk

Your daily news has saved me a lot of time and keeps me up-to-date with what is happening in the market, I like that you almost always have a link to the source origin. We also use your market data in our Strategic Business Process to support our business decisions. By having everything in one place on the Intelligence Center it has saved me a lot of time versus looking on different sources, the alert function also helps with this.

Head of Key Accounts, Saab AB

Having used several other market research companies, I find that GlobalData manages to provide that ‘difficult-to-get’ market data that others can’t, as well as very diverse and complete consumer surveys.

Marketing Intelligence Manager, Portugal Foods

Related reports

View more Payments reports
Financial Services
New
Peru Insurance Industry - Key Trends and Opportunities to 2027
$1,450 | May 2023
Financial Services
New
UBS Global Wealth Management - Competitor Profile
$1,295 | June 2023
Financial Services
New
South Korea PESTLE Insights - A Macroeconomic Outlook Report
$500 | June 2023