Indonesia: Cards & Payments Market to Show Strong Growth | Visa, Mastercard, American Express

A new research document is added in HTF MI database of 79 pages, titled as 'Indonesia Cards & Payments: Opportunities and Risks to 2023' with detailed analysis, Competitive landscape, forecast and strategies. The study covers geographic analysis that includes regions and important players/vendors such as Bank BRI, BNI, Bank Mandiri, BCA etc. The report will help you gain market insights, future trends and growth prospects for forecast period of 2023.

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Summary
GlobalData’s 'Indonesia Cards & Payments: Opportunities and Risks to 2023' 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, cash, and cheques during the review-period (2015-19e).

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 (2019e-23f). 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.

Companies Mentioned in the Report
Bank BRI, BNI, Bank Mandiri, BCA, CIMB, Bank Danamon Indonesia, Maybank, Bank Mega, Citibank, United Overseas Bank, Visa, Mastercard, American Express, JCB

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GlobalData’s 'Indonesia Cards & Payments: Opportunities and Risks to 2023' 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, cash, and cheques. It also, includes an overview of the country's key alternative payment instruments.
- E-commerce 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.

Scope
- To encourage the use of electronic payments among Indonesian consumers, the central bank introduced NPG in December 2017. The gateway enables the interoperability and switching of domestic payments, thereby creating an interconnected payment ecosystem. With the interoperability and infrastructure sharing system in place, the merchant discount rate on payment cards - which ranged between 2% and 3% - was reduced to 1%. And for domestic transactions the government introduced ATM/debit cards bearing the NPG logo. According to the central bank, a total of 16.1 million cards bearing the NPG logo were issued in 2018.
- 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. The transition has been taking place in phases; 50% of banks’ debit cards must be EMV-compliant by December 31, 2019. In addition, banks are also taking steps to enhance security for customer accounts and transactions. In April 2018, Bank Rakyat Indonesia (Bank BRI) partnered with the State Cyber and Code Agency to introduce a digital signature verification system to its mobile banking platform. Initially, the bank introduced digital signatures for validation when opening an account via its mobile banking app.
- The emergence of mobile-only banks in Indonesia is likely to further accelerate the shift towards electronic payments. Singapore-based DBS Bank launched its mobile-only bank digibank in August 2017. Consumers can open a digibank account by providing their biometric scans to digibank agents. They can then use their account to make fund transfers and cash withdrawals with no administration fees. In August 2018, Singapore’s UOB announced plans to launch its digital bank TMRW in five Asian markets. The Indonesia launch is scheduled for the end of 2019.

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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 Preferences: C

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