Indonesia Cards & Payments: Opportunities and Risks to 2023
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 countrys competitive landscape, including market shares of issuers and schemes.
The report brings together 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.
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 countrys 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.
- 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 countrys 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, Singapores UOB announced plans to launch its digital bank TMRW in five Asian markets. The Indonesia launch is scheduled for the end of 2019.
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.
Payment Preferences: Cash, Card and Mobile wallet
Mobile Proximity Payments
Payments Infrastructure & Regulation
Employee Benefits in Indonesia 2021The Indonesian social security system comprises the provident fund system and social insurance system. Social security in Indonesia covers a small proportion of the population withView Report
PT Bank China Construction Bank Indonesia Tbk - Strategy, SWOT and Corporate Finance ReportPT Bank China Construction Bank Indonesia Tbk - Strategy, SWOT and Corporate Finance Report, is a sourceView Report
Cards & Payments Global Market Report 2021: COVID 19 Impact and Recovery to 2030 Company provides the strategists, marketers and senior management with the critical information they need to assessView Report
Indonesia Cards and Payments - Opportunities and Risks to 2024Indonesia Cards and Payments - Opportunities and Risks to 2024 report provides detailed analysis of market trends in the Indonesian cardsView Report
Fill The Form For Sample Request