Indonesia Prepaid Cards Market Size to Grow at a CAGR of 17.7% in the Forecast Period of 2023-2028

According to IMARC Group's latest report, titled "Indonesia Prepaid Cards Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.' the Indonesia prepaid cards market size reached US$ 26.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 69.3 Billion by 2028, exhibiting a growth rate (CAGR) of 17.7% during 2023-2028.

Prepaid cards are stored-value cards that employ preloaded transaction funds to pay bills and make purchases. They are limited based on the holder's deposit profile and can be used by anyone regardless of their income, credit rating, and status. Prepaid cards aid in lowering the risk of overspending, providing an easy registration option, ensuring card information safety, and performing secured transactions. Apart from this, they are maneuverable and easy to use, due to which they are extensively utilized across industries. At present, prepaid cards are categorized into conventional and reloadable fund types.  

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Indonesia Prepaid Cards Market Trends:

The widespread adoption of prepaid cards across various industrial verticals can be attributed to the increasing demand for a secured and effective cash transaction medium. Moreover, the extensive utilization of prepaid cards as a secured payment method over conventional modes, especially by the younger population due to rising disposable incomes and evolving preferences, is acting as another growth-inducing factor. Additionally, the favorable initiatives being undertaken by the Government of Indonesia for achieving the goal of a cashless economy, along with the rapid establishment of the point of service (POS), electronic data capture (EDC) terminals and automated teller machine (ATM) facilities, are contributing to the market growth. In line with this, the sudden outbreak of coronavirus disease (COVID-19) pandemic and the consequent implementation of mandatory lockdowns across Indonesia have prompted consumers to use prepaid cards for shopping through various e-commerce platforms. This, in turn, is propelling the market growth. Other factors, including the significant expansion in the bank, financial services, and insurance (BFSI) sector and strategic collaborations amongst financial institutions to offer additional monetary benefits to users, are creating a positive outlook for the market. 

Indonesia Prepaid Cards Market 2023-2028 Competitive Analysis and Segmentation:

Competitive Landscape With Key Players:

The competitive landscape of the Indonesia prepaid cards market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

Mandiri Bank
Bank DKI
Bank Negara Indonesia
Bank Central Asia
Bank Rakyat Indonesia
Bank BNI

Key Market Segmentation:

The report has segmented the Indonesia prepaid cards market on the basis of card type, purpose and vertical

Market Breakup by Card Type

Closed Loop Cards
Open Loop Cards

Market Breakup by Purpose

Transportation
Gas/Fuel
Food and Beverages
Others

Market Breakup by Vertical

Retail
Corporate/Organization
Government
Others

Market Breakup by Region

Java
Sumatra
Kalimantan
Sulawesi
Others

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Key Highlights of the Report:                                                           

Market Performance (2017-2022)
Market Outlook (2023-2028)
Market Trends
Market Drivers and Success Factors
Impact of COVID-19
Value Chain Analysis
Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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