DUBLIN, Sept. 14, 2022 (GLOBE NEWSWIRE) — The “Indonesia Prepaid Cards and Digital Wallets Business and Investment Opportunities Databook – Market Size and Forecast, Consumer Attitudes and Behaviors, Retail Spending” report has been added to ResearchAndMarkets.com’s supply.
During the forecast period from 2022 to 2026, the market is expected to register a CAGR of 9.2%, from USD 6 billion in 2022 to USD 8.53 billion in 2026. The prepaid card market (value) in Indonesia is growing at a CAGR of 13.1% during 2017-2021.
The slow pace of credit card issuance in Indonesia also means that the cashless payment ecosystem will increasingly lean towards prepaid cards, also known as stored value wallets. Historically, the country’s traditional banking players have dominated the digital payments space by offering prepaid cards to the majority of Indonesia’s unbanked population.
With the increasing adoption of digital payments in the country, various fintech companies are either working independently or collaborating to launch prepaid card solutions in the Indonesian market. Digital wallet providers and payment technology providers are attracting the country’s customer base with unique prepaid cards, fueling the growth of the overall prepaid card market in Indonesia.
Blackhawk Network partners with Sony to launch gaming gift cards in Indonesia
With the growing demand for gaming products, the payment solutions provider is launching gift cards to expand its market share in Indonesia.
- In November 2021, payment solutions provider Blackhawk Network Indonesia partnered with video game and digital entertainment provider Sony Interactive Entertainment (SIE) to launch PlayStation Store gift cards in Indonesia.
- With these gift cards in physical and digital form, gamers in Indonesia will be able to purchase a wide range of games and content available on the PlayStation Store.
- Digital gift cards will be sold on major Indonesian e-commerce platforms such as Tokopedia and Shopee, while physical gift cards will be sold at Indomaret stores.
The partnership will give Indonesian gamers an opportunity to pay via PlayStation Store gift cards, even if they don’t have any credit cards or any other payment method.
Overseas companies enter Indonesian prepaid card market through cooperation
With the growing demand for prepaid instruments, the Indonesian prepaid card market has become increasingly attractive for overseas companies to launch services in the country.
- In December 2021, e-wallet provider and fintech arm of Axiata Digital, Boost, partnered with global technology and payments provider Mastercard to offer consumers in Malaysia and Indonesia a range of innovative payment solutions. Among these solutions, the first to market will be the MasterCard prepaid card.
- The Boost Mastercard prepaid card will allow Boost consumers to transact in a safe and secure manner in Indonesia and around the world where Mastercard is accepted.
- The partnership will include the launch of SME financial products in both countries. Notably, this will help expand services for small micro-businesses through platforms such as Boost Biz and Boost Credit.
- The company will also leverage Mastercard’s technology to expand its fintech and payments portfolio in the South Asia region.
Public transport provider intends to integrate payment system with Indonesia’s transport card
The need for an integrated transportation system has prompted a number of initiatives by governments. Notably, the Indonesian government has also taken steps to integrate payment systems, customs duties and multimodal transport routes.
- In May 2021, as the first step in integrating payments, the public transport integration program PT Jaklingko Indonesia plans to start cooperation in all modes of transportation in Jakarta from mid-August 2021.
- Through this program, QR code-based payments will be launched through the JakLingko Smart App as well as tickets in the form of JakLingko Smart Cards or cards.
- On top of that, passengers will be able to choose their mode of transportation, origin, destination, travel cost through the app.
The publisher expects that a transit card that works for all modes of transportation and pays via QR code will make travel very convenient for passengers, which will lead to higher adoption of these smart cards in the medium to long term.
scope
Indonesia digital wallet market size and forecast
- Transaction value trend analysis
- Volume Trend Analysis
- Average per transaction
Indonesia Digital Wallet Market Size and Forecast by Major Segments
- Retail shopping (value, quantity, average value)
- Trips (value, quantity, average value)
- Entertainment and games (value, volume, average value)
- Restaurant (value, quantity, average value)
- Top-ups and bill payments (value, quantity, average value)
Market attractiveness of Indonesian prepaid card industry
- Load value trend analysis
- Transaction value trend analysis
- Volume Trend Analysis
- Average per transaction
- number of cards
Market Share Analysis by Functional Attribute – Open-Loop vs. Closed-Loop 2017 – 2026
Market Share Analysis by Prepaid Card Category
Indonesia Open Loop Prepaid Card Future Growth Dynamics, 2017 – 2026
- Transaction value trend analysis
- Volume Trend Analysis
- Average per transaction
- number of cards
Future growth trends of closed-loop prepaid cards in Indonesia from 2017 to 2026
- Transaction value trend analysis
- Volume Trend Analysis
- Average per transaction
- number of cards
Consumer usage trends of prepaid cards in Indonesia
- By age group
- By income group
- by gender
Indonesia Universal Prepaid Card Market Size and Forecast
Indonesia Gift Card Market Size and Forecast
Gift Card Market Size and Functional Attribute Forecast
- via open loop gift card
- Through closed loop gift cards
Gift Card Market Size and Consumer Segment Forecasts
- Segmentation by retail consumer
- Segment by Business Consumer
Gift Card Market Share Analysis By Retail Category
Gift Card Market Share Analysis by Gifting Occasion
Gift Card Market Share Analysis by Place of Purchase
Indonesia Entertainment and Gaming Prepaid Card Market Size and Forecast
Indonesia Youth and School Prepaid Card Market Size and Forecast
Market size and functional attribute forecast of youth and campus prepaid cards
- Prepaid Cards through Open Loop Teens and Campuses
- Prepaid cards through closed-loop teens and campuses
Indonesia Commercial and Administrative Fee Prepaid Card Market Size and Forecast
Commercial and Administrative Fee Prepaid Cards Market Size and Consumer Segment Forecasts
- By Small Business Sector
- By middle business segment
- By Enterprise Business Sector
- By government department
Indonesia Payroll Prepaid Card Market Size and Forecast
Payroll Prepaid Cards Market Size and Consumer Segment Forecasts
- By Small Business Sector
- By middle business segment
- By Enterprise Business Sector
- By government department
Indonesian meal prepaid card market size and forecast
Meal prepaid card market size and consumption segment forecast
- By Small Business Sector
- By middle business segment
- By Enterprise Business Sector
- By government department
Indonesia tourism foreign exchange prepaid card market size and forecast
Travel FX Prepaid Cards Market Size and Consumer Segment Forecasts
- By retail
- By Small Business Sector
- By middle business segment
- By Enterprise Business Sector
- By government department
Indonesia Transportation and Toll Prepaid Card Market Size and Forecast
Indonesia Healthcare and Wellness Prepaid Card Market Size and Forecast
Indonesia Social Security and Other Government Benefit Program Prepaid Cards Market Size and Forecast
Indonesia Fuel Prepaid Card Market Size and Forecast
Indonesia Utilities and Other Prepaid Cards Market Size and Forecast
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