Indonesiaâs Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape
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PR-Inside.com: 2014-03-18 07:14:03
The Indonesian card payments channel grew substantially both in volume and value terms during the review period. In terms of number of cards in circulation, the Indonesian card payments channel grew at a CAGR of 21.26% increasing from 52.4 million cards in 2008 to 113.2 million in 2012. The card payments channel is expected to register a CAGR of 20.36%, rising from 138.1 million cards in 2013 to 289.9 million in 2017.
In terms of transaction value, the channel grew at a CAGR of 19.68% from IDR846.7 trillion (US$87.3 billion) in 2008 to IDR1.7 quadrillion (US$185.2 billion) in 2012. Debit and credit card transactions remained the key growth drivers, followed by prepaid cards which registered increased demand from Indonesian consumers. Over the forecast period, the total card transaction value is expected to grow at a CAGR of 12.52%, to reach IDR3.3 quadrillion (US$328.8 billion) by the end of 2017.
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