Indonesia Cards and Payments: Opportunities and Risks to 2029

Description

List of Tables

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.

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.

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.

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.

Product Code: GDFS0885CI

1. Executive Summary

2. Market Overview

3. Payment Instruments

4. Card-Based Payments

5. Merchant acquiring

6. Ecommerce Payments

7. In-store Payments

8. Buy Now Pay Later

9. Mobile Payments

10. P2P Payments

11. Bill Payments

12. Alternative Payments

13. Payment Innovation

14. Job Analysis

15. Payment Infrastructure and Regulation

16. Appendix

Product Code: GDFS0885CI

List of Table

List of Tables

Key facts, 2024
Benchmarking of payment cards, 2024
Payment instrument transaction values (LCU), 2021-29f
Payment instrument transaction values ($), 2021-29f
Payment instrument transaction volumes (units), 2021-29f
Payment cards in circulation by type (units), 2021-29f
Volume of payment card transactions (units), 2021-29f
Value of payment card transactions (LCU), 2021-29f
Value of payment card transactions ($), 2021-29f
Debit cards in circulation (units), 2021-29f
Debit card transaction volumes, 2021-29f
Debit card transaction values (LCU), 2021-29f
Debit card transaction values ($), 2021-29f
Debit cards in circulation by scheme (units), 2021-24e
Debit card transaction values by scheme (LCU), 2021-24e
Debit card transaction values by scheme ($), 2021-24e
Debit cards in circulation by issuer (units), 2021-24e
Debit cards transaction value by issuer (LCU), 2021-24e
Debit cards transaction value by issuer ($), 2021-24e
credit and charge cards in circulation (units), 2021-29f
credit and charge card transaction volumes, 2021-29f
credit and charge card transaction values (LCU), 2021-29f
credit and charge card transaction values ($), 2021-29f
credit and charge cards in circulation by scheme (units), 2021-24e
credit and charge card transaction values by scheme (LCU), 2021-24e
credit and charge card transaction values by scheme ($), 2021-24e
credit and charge cards in circulation by issuer (units), 2021-24e
credit and charge cards transaction value by issuer (LCU), 2021-24e
credit and charge cards transaction value by issuer ($), 2021-24e
Credit cards in circulation (units), 2021-29f
Credit card transaction volumes, 2021-29f
Credit card transaction values (LCU), 2021-29f
Credit card transaction values ($), 2021-29f
Credit cards in circulation by scheme (units), 2021-24e
Credit card transaction values by scheme (LCU), 2021-24e
Credit card transaction values by scheme ($), 2021-24e
Credit cards in circulation by issuer (units), 2021-24e
Credit cards transaction value by issuer (LCU), 2021-24e
Credit cards transaction value by issuer ($), 2021-24e
charge cards in circulation (units), 2021-29f
charge card transaction volumes, 2021-29f
charge card transaction values (LCU), 2021-29f
charge card transaction values ($), 2021-29f
charge cards in circulation by scheme (units), 2021-24e
charge card transaction values by scheme (LCU), 2021-24e
charge card transaction values by scheme ($), 2021-24e
merchant acquiring transaction volumes (units), 2021-29f
merchant acquiring transaction values (LCU), 2021-29f
merchant acquiring transaction values ($), 2021-29f
acquirers' transaction volumes (units), 2021-24e
acquirers' transaction values (LCU), 2021-24e
acquirers' transaction values ($), 2021-24e
retail outlets and card-accepting merchants (units), 2021-29f
debit card average interchange fees (%), 2021-24e
credit and charge card average interchange fees (%), 2021-24e
debit card merchant service charge and interchange fee (%), 2021-29f
credit and charge card merchant service charge and interchange fee (%), 2021-29f
retail market by product categories (LCU), 2021-29f
retail market by product categories ($), 2021-28f
retail market by service categories (LCU), 2020-24
retail market by service categories ($), 2020-24

List of Figure

List of Figures

Inflation rate
GDP growth rate
Payment instruments transaction value and volume
Instant payments transaction value and volume
Card penetration
Card payments by value
Debit card frequency of payments and average transaction value
Debit card schemes transaction value and volume
Debit card issuers by number of cards and transaction value
Credit and charge card frequency of payments and average transaction value
Credit and charge card schemes transaction value and volume
Credit and charge card issuers by number of cards and transaction value
Credit card debt
Contactless card holding and usage in detail
Merchant acquiring of payment card transaction value and volume
Merchant acquiring of payment card transaction value and volume by company type
Retail product by catagories transaction value and year-on-year grouth
Retail services by catagories transaction value and year-on-year grouth
E-commerce transaction value and ecommerce breakdown by mobile vs. desktop/laptop
Ecommerce market by product and services
Ecommerce market by paymnet tools
Factors driving in-store payments and In-store transaction value by payment method
In-store transaction value by products and services
BNPL service used in the last six months and Preferred BNPL brand/tool for in-store payments
BNPL online transaction value and transaction volume
BNPL share of overall ecommerce transaction value and preferred BNPL brand/tool for online payments
Digital wallet transaction value and volume
Digital wallet funding methods, Digital wallet preference by product/service and Digital wallet ownership by brand
Domestic and international P2P money transfers
Paymnet tool preference for bill payment and bill paymnet frequency
Active jobs intensity in the country
Number of POS terminals and ATMs

Indonesia Cards and Payments: Opportunities and Risks to 2029

Description

Table of Contents

List of Tables

Key Highlights

Scope

Reasons to Buy

Table of Contents

Table of Contents

1. Executive Summary

2. Market Overview

3. Payment Instruments

4. Card-Based Payments

5. Merchant acquiring

6. Ecommerce Payments

7. In-store Payments

8. Buy Now Pay Later

9. Mobile Payments

10. P2P Payments

11. Bill Payments

12. Alternative Payments

13. Payment Innovation

14. Job Analysis

15. Payment Infrastructure and Regulation

16. Appendix

List of Table

List of Tables

List of Figure

List of Figures