Indonesia Prepaid Cards Market Report

Market Overview:

The Indonesia prepaid cards market size reached US$ 26.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 69.3 Billion by 2028, exhibiting a growth rate (CAGR) of 17.7% during 2023-2028.

A prepaid card is also known as "stored-value card” that uses preloaded transaction funds. These cards do not require any bank account to be linked as they can be used by anyone irrespective of their credit rating, income, status, or someone holding the bank account. Some prepaid cards cannot be reloaded and are disposed after their value is used up. On the other hand, reloadable prepaid cards can be refilled with funds.

Indonesia has witnessed tremendous development in the e-commerce industry, pushing the younger population to use the internet payment platform. Younger population prefer card as their payment method over others which is driving the adoption of prepaid cards in the country. Moreover, the growing use of POS (Point of Service), EDC terminals and ATM facilities in Indonesia have motivated retailers to use electrical payment methods that encourage consumers to use prepaid cards. The government has also pushed the Prepaid Cards Market through numerous projects focusing cashless economy such as the cashless toll road scheme in 2017. However, there is also some reduction in average transaction values as large numbers of customers entered the cashless payment system and increasing numbers of banks that have exacerbated Indonesia's prepaid industry.

IMARC Group’s latest report provides a deep insight into the Indonesia prepaid cards market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the Indonesia prepaid cards market in any manner.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the Indonesia prepaid cards market report, along with forecasts at the country and regional level from 2023-2028. Our report has categorized the market based on card type, purpose and vertical.

Breakup by Card Type

• Closed Loop Cards
• Open Loop Cards

Open loop cards currently dominate the market, holding the largest share.

Breakup by Purpose

• Transportation
• Gas/Fuel
• Food and Beverages
• Others

Transportation segment currently dominate the market, holding the largest share.

Breakup by Vertical

• Retail
• Corporate/Organization
• Government
• Others

Amongst these, corporate/organization currently represent the leading segment accounting for majority of the market share.

Breakup by Region

• Java
• Sumatra
• Kalimantan
• Sulawesi
• Others

Amongst these, Java region accounts for the highest market share.

Competitive Landscape:

The report has also examined the competitive landscape of the Indonesia prepaid cards market. Some of the major players include:

• Mandiri Bank
• Bank DKI
• Bank Negara Indonesia
• Bank Central Asia
• Bank Rakyat Indonesia
• Bank BNI
   

Report Coverage: