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Indonesia Payments Market 2017 Key Players-Bank BRI, BNI, BCA, Bank Mandiri, CIMB, Niaga, etc

10-13-2017 08:38 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Orbis Research

Indonesia Payments Market 2017 Key Players-Bank BRI, BNI, BCA,

Orbis Research has announced the addition of the “Payments in Indonesia 2017: What Consumers Want?” to store by company, by country, and by application/type for the competitive landscape analysis.

"Payments in Indonesia 2017: What Consumers Want?", report examines the consumer payments market in Indonesia, considering payment cards, online payments, P2P payments, and newer payment technologies such as mobile wallets and contactless. The report also examines the main regulatory players overseeing the market.

Request a sample of this report @ http://www.orbisresearch.com/contacts/request-sample/482252

Companies Mentioned:
Bank BRI
BNI
BCA
Bank Mandiri
CIMB Niaga
Bank Mega
Visa
Mastercard
American Express
JCB

Cash remains the predominant payment instrument in Indonesia - especially among the rural population. This was primarily due to low awareness of electronic payments, a high unbanked population, and limited access to banking infrastructure. The modernization of the country’s payments infrastructure with the introduction of the National Payments Plan, the transformation of cards to incorporate EMV technology, and the National Non-Cash Movement will support the transition to non-cash payments.

It provides in-depth analysis of the following -
- Analyzes consumer attitudes to financial services by lifestage.
- Analyzes the major payment card types in terms of both card holding and usage.
- Identifies the major competitors in card issuing and how their position in the market has changed over the last five years.
- Considers consumer attitudes towards P2P tools, mobile payment tools, and contactless cards, and how companies in Indonesia are deploying these tools to meet customer needs.
- Explores the online payment market in Indonesia by merchant type and payment tool, as well as providing a five-year forecast for the development of the market.

Browse the complete report @ http://www.orbisresearch.com/reports/index/payments-in-indonesia-2017-what-consumers-want

Scope
- Debit cards remain the preferred payment cards among Indonesian consumers. However, usage is mostly restricted to ATM cash withdrawals, with frequency of use at 9 times that of POS transactions. This is primarily because both consumers and merchants still prefer the use of cash. However, with ongoing efforts by the government to enhance the POS infrastructure and card acceptance, the number of POS transactions has increased.
- To bring a larger part of the population under the purview of the formal banking system, the central bank has taken a number of initiatives. The central bank introduced a national strategy for inclusive finance (SNKI) in November 2016, with the aim of increasing financial access to small business players such as farmers, fisherman, laborers, and SMEs.
- The central bank is also enhancing the security of payment systems and has mandated the migration of all payment cards to EMV standards by December 31, 2021. Similarly, as of July 1, 2017 the central bank has mandated the adoption of six-digit PINs for debit and ATM cards, instead of four-digit PINs.

Reasons to buy
- Understand the key facts and figures in the consumer payments market in Indonesia.
- Learn what trends drive consumer behavior at the macro level and plan your strategy accordingly.
- Find out what products the major competitors are launching in the market.
- Discover consumer sentiments towards various payment tools in the Indonesian market and use this knowledge to inform product design.

Buy a report @ http://www.orbisresearch.com/contact/purchase/482252

About Us:
Orbis Research (orbisresearch.com) is a single point aid for all your market research requirements. We have vast database of reports from the leading publishers and authors across the globe. We specialize in delivering customized reports as per the requirements of our clients. We have complete information about our publishers and hence are sure about the accuracy of the industries and verticals of their specialization. This helps our clients to map their needs and we produce the perfect required market research study for our clients.

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Phone No.: +1 (214) 884-6817; +912064101019
Email ID: sales@orbisresearch.com

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