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The Indonesia prepaid cards market was valued at US$ 22.3 Billion in 2021.
We expect the Indonesia prepaid cards market to exhibit a CAGR of 17.8% during 2022-2027.
The growing prominence of cashless economy system as it offers high security and ease of transaction to the consumers is primarily driving the Indonesia prepaid cards market.
The sudden outbreak of the COVID-19 pandemic has led to the increasing adoption of prepaid cards for administering cashless transactions and mitigating the transmission of the coronavirus infection via conventional cash-based payment methods.
Based on the card type, the Indonesia prepaid cards market can be segmented into closed loop cards and open loop cards. Currently, open loop cards hold the majority of the total market share.
Based on the purpose, the Indonesia prepaid cards market has been divided into transportation, gas/fuel, food and beverages, and others. Among these, transportation currently exhibits a clear dominance in the market.
Based on the vertical, the Indonesia prepaid cards market can be categorized into retail, corporate/organization, government, and others. Currently, corporate/organization accounts for the largest market share.
On a regional level, the market has been classified into Java, Sumatra, Kalimantan, Sulawesi, and others, where Java currently dominates the Indonesia prepaid cards market.
Some of the major players in the Indonesia prepaid cards market include Mandiri Bank, Bank DKI, Bank Negara Indonesia, Bank Central Asia, Bank Rakyat Indonesia, Bank BNI, etc.
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