Market Research Report
Emerging Opportunities in Indonesia's Cards and Payments Industry: Market Size, Trends and Drivers, Strategies, Products and Competitive Landscape
|Published by||Timetric||Product code||255630|
|Published||Content info||97 Pages
|Emerging Opportunities in Indonesia's Cards and Payments Industry: Market Size, Trends and Drivers, Strategies, Products and Competitive Landscape|
|Published: November 21, 2012||Content info: 97 Pages||
The report provides market analysis, information and insights into Indonesia's cards and payments market, including:
The Indonesian cards and payments industry grew substantially both in volume and value terms during the review period. Transaction volumes increased from 1.3 billion in 2008 to 2.3 billion in 2012, at a CAGR of 16.7% during the review period. The industry grew at a CAGR of 19.3% during the review period from IDR846.8 trillion (US$84.6 billion) in 2008 to IDR1,715.1 trillion (US$188. 6 billion) in 2012 and is anticipated to grow at a CAGR of 10.7% over the forecast period (2013-2017), from IDR2,024.2 trillion (US$22.6 billion) in 2013 to IDR3,039.8 trillion (US$334.4 billion) in 2017. Debit cards dominated the industry with a market share of 57.7% in 2012, followed by prepaid, credit and charge cards with respective shares of 29.4%, 12.6% and 0.4%. Banks and card issuers in Indonesia have introduced several new technologies to increase levels of consumer convenience. For example, with the introduction of contactless technology, customers can make payments for small value purchases in seconds. Indonesian mobile operators are also making efforts to establish the required infrastructure for near field communication (NFC) technology through which customers can make purchases via their mobile phones. Banks are migrating to Europay, MasterCard and Visa (EMV) cards in order to provide enhanced security features to customers. EMV cards store customer data on a chip in an encrypted format which has led to increased EMV adoption in several regions across the world. With increased security features banks are intending to offer cards that can be used in any geographical location without any security issues. The introduction of these new technologies is expected to compel customers to carry advanced and secure card payment solutions.