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Indonesia Cards and Payments - Opportunities and Risks to 2025

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    Report

  • 92 Pages
  • May 2022
  • Region: Indonesia
  • GlobalData
  • ID: 5614869
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Indonesia Cards and Payments - Opportunities and Risks to 2025

Summary


The ‘Indonesia Cards and Payments - Opportunities and Risks to 2025' report provides detailed analysis of market trends in the Indonesian cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cards, credit transfers, cash, direct debits and cheques during the review-period (2017-21e).

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 (2021e-25f). It also offers information on the country's competitive landscape, including market shares of issuers and schemes.

The report brings together the publisher'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.

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

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

Scope

  • To provide faster payments and boost the adoption and usage of electronic payments, the central bank launched the BI-FAST instant payment system in December 2021. The system facilitates fund transfers 24/7, settled in real-time in a few seconds. By the end of January 2022, there were 43 participants in the BI-FAST system. The system currently supports individual fund transfers but will gradually include bulk transfer, direct debit, and request to pay services. Transfers can be initiated via branches as well as the internet and mobile baking platforms of participating institutions, using the recipient’s account number and proxies such as phone number and email address. In the future, BI-FAST will also support transfers via QRIS, ATMs, and POS terminals.
  • The government is taking various steps in a bid to support the country’s credit card market. From June 2017, the central bank capped the maximum credit card interest rate at 2.25% per month or 26.95% per year - down from the previous figures of 2.95% per month or 35.4% per year. In the wake of COVID 19, the interest rate was reduced to 2.0% per month from May 1, 2020. This rate was further reduced to 1.75%, effective from July 1, 2021.
  • To enhance the security of the country’s payment system and boost payment card usage, the central bank mandated that all ATM and debit cards must be migrated to the EMV standard with a six-digit PIN by December 31, 2021. From January 1, 2022, magnetic-stripe cards cannot be used for transactions. Effective from July 1, 2020, all transactions made via credit cards must be authenticated with a six-digit PIN. Effective from July 2017, all new debit cards issued must be EMV-compliant.

Reasons to Buy

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

Table of Contents

  • Market Overview
  • Payment Instruments
  • Card-Based Payments
  • Merchant Acquiring
  • Ecommerce Payments
  • In-Store Payments
  • Buy Now Pay Later
  • Mobile Payments
  • P2P Payments
  • Bill Payments
  • Alternative Payments
  • Payment Innovations
  • Job Analysis
  • Payment Infrastructure and Regulation
  • Appendix

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Bank Rakyat Indonesia
  • BNI
  • Bank Mandiri
  • BCA
  • Maybank
  • CIMB
  • Bank Danamon Indonesia
  • Bank Mega