DUBLIN, September 21, 2022 /PRNewswire/ — Added to the report “Indonesia Prepaid Card and Digital Wallet Business and Investment Opportunities Databook – Market Size and Forecast, Consumer Attitude & Behavior, Retail Spend” ResearchAndMarkets.com’s offer.

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Over the forecast period from 2022 to 2026, the market is expected to record a CAGR of 9.2%, increasing from US$6.00 billion to be reached in 2022 US$8.53 billion by 2026. The market for prepaid cards (value terms) in Indonesia increased at a CAGR of 13.1% in 2017-2021.

In IndonesiaThe slow pace of credit card issuance also means that the cashless payments 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, fueling 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 Nov 2021payment solution provider Blackhawk Network Indonesia partnered with video game and digital entertainment provider Sony Interactive Entertainment (SIE) to launch PlayStation Store Gift Card in Indonesia.

  • With the help of these gift cards, which are available in both physical and digital form, the gamers can Indonesia can 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 Dec 2021Boost, an e-wallet provider and also the fintech arm of Axiata Digital, has 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 the payment system via public transport 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 2021As a first step towards payment integration, the public transport integration program PT Jaklingko Indonesia had aimed to make all modes of transport work together in Jakarta starting 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)

  • Charging and Payment of invoices (Value, Volume, Avg. 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/g6gvvv

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