Dublin, Sept. 14, 2022 (GLOBE NEWSWIRE) — The report “Indonesia Prepaid Card and Digital Wallet Business and Investment Opportunities Databook – Market Size and Forecast, Consumer Attitude & Behavior, Retail Spend” has been added to ResearchAndMarkets.com’s offer.
Over the forecast period from 2022 to 2026, the market is expected to record a CAGR of 9.2%, from US$6.00 billion in 2022 to US$8.53 billion in 2026. The prepaid card market (value terms) in Indonesia increased at a CAGR of 13.1% in 2017-2021.
In Indonesia, the slow pace of credit card issuance also means that the cashless payment ecosystem will increasingly tilt in favor of prepaid cards, otherwise known as stored value wallets. Historically, traditional banking players in the country have dominated the digital payments segment by offering prepaid cards to a largely unbanked population in Indonesia.
With the growing adoption of digital payments in the country, several fintech companies are either standalone or in partnerships introducing prepaid card solutions to the Indonesian market. Digital wallet providers and payment technology providers are conquering the customer base in the country with unique prepaid cards, boosting the growth of the overall prepaid card market in Indonesia.
Blackhawk Network partners with Sony to launch gaming gift card in Indonesia
With the growing demand for gaming products, payment solution providers are launching gift cards to increase their market share in Indonesia.
-
In November 2021, payment solutions provider Blackhawk Network Indonesia partnered with video games and digital entertainment provider Sony Interactive Entertainment (SIE) to launch the PlayStation Store Gift Card in Indonesia.
-
Available in both physical and digital form, these gift cards allow gamers in Indonesia to purchase various games and content available on PlayStation Store.
-
The digital gift cards will be available on major Indonesian e-commerce platforms, such as Tokopedia and Shopee, while physical gift cards can be found at Indomaret stores.
This partnership allows Indonesian gamers to make payments via PlayStation Store Gift Card, even if they don’t have a credit card or other payment method.
Overseas companies enter the Indonesian prepaid card market through partnerships
With the rising demand for prepaid instruments, the Indonesian prepaid card market is becoming more attractive for foreign companies to launch their services in this country.
-
In December 2021, Boost, an e-wallet provider and also the fintech arm of Axiata Digital, partnered with global technology and payment provider Mastercard to offer a range of innovative payment solutions to Malaysian and Indonesian consumers. Of these solutions, the first to hit the market is a Mastercard prepaid card.
-
The Boost Mastercard prepaid card allows Boost consumers to transact in a safe and secure manner in Indonesia and worldwide, where Mastercard is accepted.
-
The partnership includes the launch of financial products for SMEs in both countries. In particular, this will help broaden the services offered to small micro merchants through the platforms such as Boost Biz and Boost Credit.
-
The company will also leverage Mastercard’s technology, expanding its fintech and payments portfolio in the South Asian region.
Public transport providers plan to integrate payment system through transit cards in Indonesia
The need for an integrated transportation system has prompted the governments of different countries to take various initiatives. Notably, the Indonesian government has also taken steps to integrate payment systems, tariffs and intermodal transport routes.
-
In May 2021, as a first step towards payment integration, the public transport integration program PT Jaklingko Indonesia had planned to cooperate with all modes of transport in Jakarta from mid-August 2021.
-
Through this program, QR code based payments will be launched through the JakLingko smart app and also JakLingko Smart Card or tickets in the form of a card.
-
Most importantly, the passengers can select the mode of transport, departure point, destination point and travel costs all through the app.
The issuer expects that a single transit card for all modes of transport and payments via QR code will make passenger travel very easy, leading to higher adoption of these smart cards in the medium to long term.
Domain
Indonesia digital wallet market size and forecast
-
Transaction value Trend analysis
-
Transaction volume trend analysis
-
Average value per transaction
Indonesia Digital Wallet Market Size and Forecast by Key Segments
-
Retail shopping (value, volume, average value)
-
Travel (value, volume, average value)
-
Entertainment and gaming (value, volume, average value)
-
Restaurant (value, volume, average value)
-
Top up and invoice (value, volume, average value)
Prepaid Card Industry Market Attractiveness In Indonesia
-
Trend analysis charging value
-
Transaction value Trend analysis
-
Transaction volume trend analysis
-
Average value per transaction
-
number of cards
Market Share Analysis on Functional Attributes – Open Loop vs. Closed Loop, 2017 – 2026
Market share analysis by prepaid card categories
Indonesia Open Loop Prepaid Card Future Growth Dynamics, 2017 – 2026
-
Transaction value Trend analysis
-
Transaction volume trend analysis
-
Average value per transaction
-
number of cards
Indonesia Closed Loop Prepaid Card Future Growth Dynamics, 2017 – 2026
-
Transaction value Trend analysis
-
Transaction volume trend analysis
-
Average value per transaction
-
number of cards
Prepaid card consumer usage trends in Indonesia
-
By age group
-
By income group
-
by gender
Market size and forecast for prepaid cards in Indonesia
Indonesia Gift Card Market Size and Forecast
Market size and forecast for gift cards by functional feature
-
Door Open Loop Gift Card
-
By a closed loop gift card
Market Size and Forecast for Gift Cards by Consumer Segment
Gift card market share analysis by store categories
Gift Card Market Share Analysis by Opportunity Gift
Gift card market share analysis by purchase location
Indonesia Entertainment and Gaming Prepaid Card Market Size and Forecast
Market size and forecast for prepaid cards for teens and campuses in Indonesia
Market size and forecast for teen and campus prepaid cards by functional feature
Indonesia Business and Administrative Expenses Prepaid Card Market Size and Forecast
Business and Administrative Expenses Prepaid Card Market Size and Forecast by Consumer Segment
-
By small-scale business segment
-
By mid-tier business segment
-
By business segment
-
By government segment
Indonesia Payroll Prepaid Card Market Size and Forecast
Payroll Prepaid Card Market Size and Forecast by Consumer Segments
-
By small-scale business segment
-
By mid-tier business segment
-
By business segment
-
By government segment
Indonesia Meal Prepaid Card Market Size and Forecast
Meal Prepaid Card Market Size and Forecast by Consumer Segments
-
By small-scale business segment
-
By mid-tier business segment
-
By business segment
-
By government segment
Indonesia Travel Forex Prepaid Card Market Size and Forecast
Forex Prepaid Card Market Size and Forecast by Consumer Segments
-
By retail
-
By small-scale business segment
-
By mid-tier business segment
-
By business segment
-
By government segment
Indonesia Transit and Toll Prepaid Card Market Size and Forecast
Market size and forecast for prepaid health and wellness cards in Indonesia
Indonesia Social Security and Other Government Benefit Programs Prepaid Card Market Size and Forecast
Market Size and Forecast for Fuel Prepaid Cards in Indonesia
Indonesia Utilities and Other Prepaid Cards Market Size and Forecast
For more information on this report, please visit https://www.researchandmarkets.com/r/yqf3bq
CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood,Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
0 Comments